Volatile commodity markets, tight financial markets and cautious consumers are making their influence felt along supply chains.
In addition, environmental issues, product safety incidents, critical part shortages, ethics violations and other supply risks have a negative effect on companies’ reputations and business fortunes.
With this being the current landscape in which Chief Procurement Officers (CPOs) now find themselves, what will ensure that they not only survive but thrive in this time?
Recent research shows that the best CPOs help their organisations evolve through five major stages:
1. Supply assurance
2. Purchased cost reduction.
3. Total cost reduction.
4. Shifting from supply-centric to having a deeper focus on internal and external customers.
5. Value management, where the CPO’s agenda should be in-step with the CEO and CFO, focused on issues such as innovation, growth and sustainability.
Identifying the stage that you’re in and ensuring that your department doesn’t get bogged down at the total cost reduction stage will mean that you’ll be at the real tipping point for procurement organisations.
At Smart Procurement World 2012 from 13-15 November our speakers will provide further unique insights into the strategies that will tip your department into success.
Some of the country’s top CPOs and Supply Chain Managers will also discuss, consider and benchmark the different organisational capabilities, skills and competencies needed to drive change in the sector.
For more information visit www.smartprocurementworld.com
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