In my experience many C-level executives don’t realize the value the strategic sourcing team brings. Unfortunately, the fault may be in how the team communicates their successes. At the most basic level we all want to feel appreciated for our efforts. Understanding how to communicate your achievements will go a long way to raising […]
CFOs and CPOs often have the choice of going with the name company (safe choice) or the entrepreneurial company (better choice). In procurement, there is risk in choosing the upstart if they don’t live up to the expectations. It takes courage to go with a lesser-known company even if it is clear that their […]
The very first question that I will ask a prospective client is: What is your controllable spend? The second question is: What is the total of the verified savings your group achieved in the past 12 months? The answers that I receive are indicative of the number of challenges the Chief Procurement Officer is facing. […]
It is no secret that CPOs want to drive positive change in their organizations. One of the things that can hold an organization back is the current systems in place for supplier contract management. Last week I wrote about tracking expected savings in key spend categories. This week I will focus on contracts. Based on […]
Sourcing challenges for most CPOs look a lot like they did before the explosion in technological tools designed to help manage the sourcing process. Tools that allow companies to source faster and collect better data won’t help if there are not enough hours in a day to track the process. The same issues in […]
Understanding exactly what a Chief Procurement Officer (CPO) entails and how the role fits in with the rest of the executive suite is the key for getting the best from the person you put into this position.