CPO Rising 2017: Tools of the Trade
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There is no profession where a true master tradesman intentionally lays aside the core tools and equipment of their craft – skill, creativity, and dedication cannot replace them. While budget and resource constraints as well as perceived complexity often hinder investment in supply management technology, it has been clear for some time that some Chief Procurement Officers (“CPOs”) simply do not consider these solutions to be essential to what they are trying to accomplish. These CPOs are predominantly from an older generation and, while mistaken, come to their views honestly with careers that began well before the solutions first launched twenty years ago. Nonetheless, just as today’s competitive market pressure and unprecedented innovation demand the constant reevaluation of supply markets, so too must these leaders rethink their technology strategies. Those CPOs that continue to resist automation and the other changes needed to enhance agility are manufacturing their department’s obsolescence. The time has come for many of these “old masters” to stop acting like apprentices and adopt a 21st Century approach to their business.
This twelfth annual CPO-themed report, CPO Rising 2017, is part of an ongoing dialogue that Ardent Partners’ analysts have had with CPOs and other procurement leaders for more than a decade. The report examines the general competencies and capabilities of procurement organizations today and highlights the management strategies and tactics that leading CPOs use to get the most from their teams. It also presents a comprehensive, industry-wide view into what is happening in the world of procurement and captures the experience, performance, perspective, and intentions of 313 CPOs and other procurement executives. The report includes benchmark statistics, analysis, and recommendations that procurement teams can use to better understand the state of procurement today, gain insight into best practices, benchmark their performance against the Best-in-Class, and ultimately improve their operations and performance.
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