We all have professional roles: CPO, head of category management, VP supply chain, and so on. Yet, very often these titles end up defining us as individuals and not distinguishing us versus many others that might hold similar jobs.
The debate around talent continues to swill. At the recent World Procurement Congress business executives came together to think of some answers to the questions that have been posed by this challenge.
Many procurement teams now manage contingent and outsourced labour programs. It is imperative that the procurement function understand and assess the inherent risks of this population when considering these telling trends.
An organisation can be competitive if its procurement capabilities are aligned to the digitalised world. Cognitive computing, such as IBM’s Watson, is changing the function. Not only is it changing how you do procurement, it is also changing the skills required of a procurement professional.
Tom Seal, research director at Procurement Leaders, told this year’s World Procurement Congress (WPC) that we define successful risk-aversion by using a “nothing went wrong approach”. Why is this relevant? Because micro-risks – if poorly managed – can easily mount up, costing businesses millions as a result.
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