Category Archives: Leadership

The Listen, Shape, Deliver Framework: How to Succeed in the First 100 Days as a CPO

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In today’s increasingly competitive economic climate in which so much more is delivered through suppliers, procurement has become a core business function. The role has grown from back-office purchasing to strategic sourcing to encompass executive-level strategy formulation and wealth creation across all spend. This development has further thrust the role of the chief procurement officer (CPO) into the spotlight, with companies now seeking to attract and develop the best talent to deliver this. Like all executive roles, CPOs have a very small window of opportunity in which to make their mark at a company, and are thus under immense pressure right from the start to fulfill business goals and further their organization’s growth agenda. In our experience, the average tenure of the CPO is less than four years. So for any new incumbent, the first hundred days in the role are particularly vital when it comes to enabling future success. Drawing on our extensive experience working closely with CPOs across various industries, we have compiled a comprehensive framework to set new senior leaders on a course for that success. In this white paper, we summarize that framework and provide three steps for CPOs to follow: namely, listen so as to understand the environment you are entering, shape a vision and plan, and deliver against expectations (see figure 1).   Step One: Listen—Understand Your Environment Before a new CPO starts making changes and implementing any new procurement functions, it is vital that you invest time in understanding the environment you are walking into. That means gaining a detailed picture … Continue reading →

Procurement Think Tank Uncovers Hot Issues for 2020

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Procurement has the power to change the world. This is not a throw-away line, but rather the lofty ambition of the new-breed of commercially astute procurement professionals who find themselves responsible for much of their corporations’ spend. By unleashing their supply networks, procurement leaders can bring new models and disruptive products and services into sharp focus. In addition, they have the power to gear that spend towards indigenous providers, socially responsible suppliers, and partners with an environmental conscience. Procurement professionals are in a position to truly lead the charge for being the change they wish to see in their industry. This was the over-arching sentiment that arose from the series of think tanks run across Australia this November. Facilitated by Pete Huggins, Director at A.T. Kearney, the think tanks brought together over 50 procurement professionals to uncover the pain points, opportunities and best practices for transforming today’s procurement functions. The think tank discussion spanned a range of procurement hot topics such as attracting and retaining talent, supplier relationship management, and harnessing the power of big data and BI. Insightful takeaways from the think tanks will be captured in our annual Procurement Innovation Report (watch this space). Here’s our facilitator’s take on some key insights heard during the Sydney think tank. Soft skills still imperative but tech skills growing in importance The group was very passionate about attracting talent, Huggins observed. As one participant pointed out, when there is no formal qualification for procurement in Australia, many graduates are left wondering … Continue reading →