Life as a Chief Procurement Officer is challenging, and never more so than in the current climate.
CPOs need to manage cost cutting so that their organizations can deliver products and services without disruption, and at margins that can support supplier development – all in the face of market volatility, fluctuating commodity prices and supplier uncertainty. Add to that the internal hurdles that most procurement departments face from non-compliance and things become even more difficult.
So how can a CPO survive, and succeed, in this volatile environment?
By implementing a robust, enterprise-wide spend analytics program as the backbone of their sourcing strategy, CPOs are in the best position to thrive. However, for too many organizations, a spend analysis program, is a once-a-year process that offers a myopic view on their spend. Without real time visibility, ongoing non-compliant spending goes undiscovered, and inevitably, the hard work of the category teams is undone.
In this free briefing paper we discuss:
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