It takes a ton of skills to be a successful CPO. Today’s CPO must be knowledgeable in how globalization affects their department while staying up to date on emerging procurement technologies and evolving business standards. On top of that, they must be able to adapt quickly against unforeseen events to avoid derailing the business’ financial objectives. In other words, the modern CPO must drive change while supporting the organization.
Per Supply Management Insider, CPOs today must align with CFOs to drive the business. The common misconceptions today in procurement is that this department is in-charge of purchasing “stuff.” In truth, this role has evolved to purchasing other “stuff” like services, on top of the usual contract management, supplier negotiations and so much more.
Are you interested in positively impacting your organization? Be sure to read Supply Management Insider’s latest infographic content,“What CFOs should expect from CPOs.”