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A primary focus for many procurement organizations in 2019 is finding new sources of value. As most of the quick & easy wins have already been identified, innovative approaches will drive these new value sources. This section of the CPO Rising 2019 report focuses on the role of the Chief Procurement Officer. It dives into the level of engagement and alignment they have today, as well as the key drivers and challenges that have shaped,...
In these unprecedented times, our economic outlook is uncertain. One thing is abundantly clear though – companies will lean on procurement teams to do more with less: Gain instant spend visibility into savings Drive sustainable cost-efficiency Navigate uncertain supply Reach new categories quickly No matter your situation, your team will be asked to operate differently. How do you prepare? What tools and resources will you need to meet these new requirements? And how will your...
Supplier relationship management is the discipline of strategically planning for, and managing, all interactions with third-party organizations that supply goods and/or services in order to maximize the value of those interactions. In practice, supplier relationship management entails developing closer, more collaborative relationships with key suppliers in order to uncover and realize the new value and reduce supply risk; but what exactly is “supply risk”? George Zsidisin, assistant professor of supply chain management at Michigan State...