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