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Our program engages our 20 top corporate partners to develop projects across a wide variety of different areas, including market intelligence, logistics, inventory, value stream mapping, cost management, supplymanagement, transportation, performance metrics, and others (see Project Breakdown ,).
A CPO in the financial services industry also noted that a need to redefine procurement’s role in the enterprise is happening, driven by the recognition that a new type of procurement capability is needed: Prior to our transformation, the ONLY metric by which our performance was measured is how much money we saved for the organization.
This ability to act as a boundary spanner between internal and external parties has been identified in past studies as “Reverse Marketing”, but we prefer to use the term ‘congruent capability’, in that it establishes congruency between stakeholder needs and supplier performance metrics.
He described a good news situation where supplychain graduates are garnering multiple job offers right now. While schools view these metrics as positive to their programs, they sometimes do not seek businesses input to the desired skill needs. “ Starting salaries are second only to data engineers.
Other indicators included data pulled from the Federal Reserve economic database, the Producer Price Index, the Purchasing Managers Index, as well as internal metrics such as the size of the company’s own sales force. They discovered that there were several leading indicators of demand, including coal (a 10 month leading indicator).
Manufacturing and supplychain sustainability needs and objectives are increasingly being tied to having a context toward avoiding carbon and resource waste. It is rather important to understand such misalignments before undertaking a technology enabled transformation initiative.
Relationship management, data modeling, problem solving, sourcing analysis, negotiation, data-driven decision-making, metrics development, forecasting, process flow, BOM understanding, MRP/production schedule, Pareto analysis, and information presentations are all key skills that he applies in his CPO role.
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