What is the best CPO tool or strategy in 2012?
Our field of 32 determines this year’s champion
Yes folks, it’s March Madness, Chief Procurement Officer Style, where the different procurement tools and strategies compete to get to the CPO’s Final Four.
Day 4 in Caracas has presented numerous technical challenges in broadcasting the games live. As such, we can only provide a summary of the action, not a detailed play-by-play. The next Region (in Austin) should pose fewer problems.
Region Two – (3) Spend Analysis vs. (6) Cash Management
Cash Management came into the game as a very hot topic, particularly for those Chief Procurement Officers who drove some big DPO improvements in 2009 & 2010. Its ability to help enterprises “rebound” in tough times kept it close through the first half. But, it was no match for Spend Analysis who scored a triple double by providing increased savings, better compliance, and helping procurement rationalize suppliers. This game was not close. Spend Analysis won by 30.
Region Two – (2) Embedding Staff vs. (7) Training
The second half of this double header was another blowout, as Embedding Staff (with the business) began by driving great value for the enterprise by helping to open lines of communication between procurement and the business and helping procurement build trust and credibility. Training, on the other hand is one of the first line items cut or trimmed from any annual or project budget. Short but sweet (sixteen). Embedding staff advances to the next round.