Orchestrating change: Strategies to maximise the potential of procurement
In recent years procurement has achieved greater recognition across the business, making it a more valued and trusted business partner. But as the function continues to gain greater prominence, CPOs are having to meet more challenging goals – a demand that often requires the transformation of key elements of the organisation.
During the Procurement Leaders Forum Vienna, leading minds in procurement discussed the strategies and structures required to support world-class sourcing – and what CPOs must do to get there.
Topics on the agenda included:
- Procurement in 2013: Procurement has a foothold, but the journey is by no means over. What are leaders doing today to make sure they make their mark tomorrow?
- Capturing supplier innovation: Whether it’s managing payment terms, sourcing supplier innovation or managing risk, the effective management of supplier relationships is vital to turning an unwieldy supply base into a network of partners.
- Future leaders: The success of a function is characterised by the skills a CPO has at his or her disposal – a sophisticated approach to talent management is crucial.
- Risk monitoring: Disasters happen, companies collapse. But avoiding headlines and financial fallout from risk events can make a huge difference to a business and ensuring the right processes exist to understand this area can significantly increase shareholder value.
- Revenue generation: There’s no denying that procurement will always have a focus on the bottom line. But the competitive advantage that a mature function can offer through topline contribution is an increasingly vital part of the procurement agenda.
The Procurement Leaders Forum in Vienna was held on 23 October 2012, with a masterclass taking place on 22 October 2012.
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