The role and strategic agenda of the chief procurement officer (CPO) have evolved over the past decade. In a new weekly series from Ardent Partners, we revisit what defined procurement and the CPO’s agenda based on responses to Ardent’s annual State of Procurement Report. The series begins at the beginning in 2006, the inaugural year Andrew Bartolini, founder and chief research officer for Ardent, launched the State of Procurement Report.
Each week, we will outline the key procurement insights for the next year in this series, culminating in 2025.
Rising Through Adversity: The CPO’s Role in Leading Through Economic Crisis
The global recession has left few stones unturned. Regardless of industry, region, or company size, no corner of the corporate world has been immune to the sweeping impact of economic downturn. Within the enterprise, nearly every business function has felt the weight of shrinking budgets, shifting priorities, and strategic uncertainty. Yet amidst this turmoil, one surprising development has emerged: the agendas of the Chief Executive Officer (CEO) and the Chief Procurement Officer (CPO) are beginning to align more closely than ever before.
According to research involving more than 220 CPOs and procurement executives, the ongoing economic crisis has not diminished the importance of procurement—in fact, it has enhanced it. Nearly two-thirds of respondents believe that the downturn has positively impacted the role of the CPO, elevating its visibility and strategic value within the organization. Procurement, once regarded primarily as a back-office function, has stepped into the spotlight as a critical driver of enterprise resilience, efficiency, and long-term value.
The current business climate is far from ideal. For many companies, these are the most difficult times in recent memory. Yet even in the midst of struggle, opportunity abounds for those who know where to look. As revenues stall or decline, the imperative to control costs grows more urgent—and that is where procurement shines. Cost containment, a core responsibility of any procurement department, has become one of the most effective levers for preserving profitability when top-line growth falters. In this context, the procurement function moves from tactical support to strategic necessity.
Beyond cost-cutting, the volatility of global commodity markets presents another major challenge that also creates opportunity. For organizations equipped with deep supply market knowledge and strong category expertise, procurement can become a source of competitive advantage. Being able to anticipate price swings, negotiate better terms, or secure supply in a constrained market is no longer a luxury—it is a strategic differentiator. As such, enterprises are increasingly turning to procurement not just to manage contracts, but to manage outcomes.
For some companies, the focus has narrowed to sheer survival. For others, like Veyance Technologies, the theme of the year is “resiliency.” According to Nat Leonard, the company’s CPO, the key to resilience lies in maintaining forward momentum even when resources are tight and risks are high. The most effective CPOs are those who balance immediate cost-saving initiatives with long-term strategic planning. They are keeping an eye on the future while managing the urgent needs of the present—a dual focus that positions their departments to thrive in recovery.
While this particular research was conducted in the shadow of economic difficulty, it builds on momentum that has been growing for years. Procurement has steadily gained influence across enterprises, and today’s crisis is proving to be a crucible for that evolution. As with any test of leadership, the current environment has revealed both character and capability. The CPOs who rise to the occasion—those with a clear understanding of enterprise goals, a well-articulated vision, and an organization ready to execute—are demonstrating that procurement can be not just supportive, but truly strategic.
Crucially, the CPOs who deliver results during difficult times are laying the groundwork for future growth—both for their organizations and their own careers. Delivering value in a crisis builds credibility, and that credibility can translate into greater influence, expanded responsibilities, and even broader leadership roles. As procurement continues to prove its worth in boardrooms and across executive teams, the door opens for CPOs to pursue advancement beyond the boundaries of their function.
Ultimately, what emerges from this research is a portrait of procurement at a pivotal moment. The economic crisis has accelerated the function’s transformation, revealing its potential and spotlighting its leaders. Smart strategies, operational resilience, and strategic alignment with enterprise objectives are the hallmarks of procurement organizations that are not just surviving, but thriving. As companies prepare for recovery and renewal, those CPOs who rose during the recession will be well-positioned to lead into the next decade—and beyond.
