From the Procurement Desk to the Boardroom: Elevating the Role of the CPO
Procurement leadership needs to evolve as factors such as business complexity, macro-economic trends and global supply chain fragmentation wreak havoc on what was once a straight-forward business process. Without evolving and reimagining, the traditional CPO risks being left behind if a strategic partnership to the overall business is not cultivated. A recent study of corporate financial performance of 2,800 companies reveals improvement in SG&A, while these same organizations exhibit flat performance in Cost-of-Goods Sold (COGS).
Organizations still need to keep applying pressure on SG&A performance, a traditional focus of the CPO and typically impacted by the procure-2-pay or source-2-settle business processes. However, to offer the organization a meaningful impact on financial metrics such as COGS, Gross Margins, Working Capital, Inventories, Return on Assets among others, CPO’s will need to expand the sphere of influence to the supply chain. Such impacts will provide exciting opportunities for increased impact on the business.
In 60 minutes, you’ll see how:
- The intelligent fusion of supply chain processes and procurement processes can:
- Impact corporate performance in a material manner
- Elevate the role of procurement to board-level attention and metrics
- Expand the value of procurement to revenue, customer satisfaction and other top-line measures.