What sets successful CPOs apart - a headhunter's perspective

MatthiasGutzmann_100.jpgThe role of the CPO, the chief procurement officer, is changing. Although many CPOs still have narrowly defined functional roles that emphasize cost savings and compliance, today's modern CPOs are business leaders who are associated with revenue growth, innovation and a closer, more strategic proximity to the supply base. As a consequence of this new expanding role, the influence of the new CPO has increased significantly and CEOs are now starting to pay attention to procurement in a way they never have before.

So, what are the attributes of a great CPO? What separates these procurement role models from the pack? Matthias Gutzmann, Founder of Digital Procurement World, talked to three highly regarded experts who should know this better than anyone else: executive search consultants.

10 Best practices for procurement managers in 2020

LindaAshok_100.jpgBy Linda Ashok
A content, communications and branding professional

So many things are slated to change in 2020, the milestone year! But what matters most is your career; how is it going to prepare you as a procurement manager? Okay, let me clarify that there isn't any significant difference between a Purchasing or Procurement Manager. Of course, you know it because you are in the procurement arena already.

Typically, a procurement manager's job description entails the following:
• Partner with the category teams and leaders in developing and implementing strategies to drive significant value from the supplier base
• Conduct in-depth research on existing and emerging trends, identifying new technology/solutions, screening potential new suppliers, and performing complex analytical studies
• Manage relationships with key suppliers, developing negotiation strategies, and conducting negotiatio
• Lead critical process improvement projects and drive higher value for the operating companies.
• Consult internal functional areas such as marketing, R&D, operations, logistics, legal, and corporate functions

With such expectations in mind, an aspiring procurement manager must possess modern skillsets that organizations will seek in 2020. In this article, we cover both the elementary and advanced expectations from the role of a procurement manager.

Fraud and corruption: how to catch a fraudster

StevenPowell_100.jpgBy Steven Powell
Director of Forensics at ENSafrica

Every organisation is susceptible to fraud, but some are more susceptible than others. This article provides an overview of the profile of a typical fraudster to help readers identify fraudsters operating in a business.

Sustainable procurement in Australia

JeniChristensen_100.jpgBy Jeni Christensen (MCIPS)
Procurement Manager in Melbourne, Australia, for Villa Maria Catholic Homes, a not-for-profit organisation linked to the Catholic Church

While Australia is often thought of as an early adopter and innovator, sustainable and ethical procurement is an area in which this country is lagging behind. There is a focus on product stewardship and end-of-life strategies, but targeting procurement practices seems to have slipped through the cracks.

4 reasons why value is the new procurement normal

HelenMackenzie_100.jpgBy Helen Mackenzie
An experienced former CPO currently working with Procurious to help connect the procurement community across the world.

We're all talking about delivering value these days in procurement, aren't we? But with so many definitions around, how do we maximise its impact?

The 5 key traits of a future-ready Finance Leader

AngelaMazzaTeufer_100.jpgBy Angela Mazza Teufer
Senior Vice President ERPM WE, ERPM North install base

Finance has always taken advantage of technology to improve productivity and collaboration. But with continuous innovation now driving our economy, the goalposts have moved. Today's organizations must adopt an agile finance operating model-- powered by emerging digital technologies and skillsets. The success of that model depends on 5 keys traits that the Finance Team must possess.

When Oracle and the Association of International Certified Professional Accountants (AICPA) decided to follow up our look at the best finance organizations, we already knew that agile finance functions were taking advantage of cloud technologies to improve efficiency; centralize process management and subject matter expertise; make greater use of analytics to contribute insights; and deploy multi-disciplinary teams to partner with decision makers.

Talking to both agile finance pioneers and those in less-advanced organizations for the new report, Agile Finance Unleashed, we discovered even deeper links between successful business and digital finance transformation. And the conversations with CFOs successfully delivering operational excellence and strategic influence using digital intelligence led to five conclusions about what makes for effective, future-ready finance leaders.

November PMI loses some of October's gains

PMI_Nov2019_200.jpgThe seasonally adjusted Absa Purchasing Managers' Index (PMI) ticked down to 47.7 index points in November from 48.1 in October. The decline was broad-based as four of the five subcomponents of the headline PMI nudged down compared with the previous month.

Despite the decline, the average level of the PMI in October and November is still slightly above that recorded in Q3.

Why standard contract terms can be bad for you

KateVitasek_100.jpgBy Kate Vitasek

If your company is like most, it promotes 'boilerplate' contracts or, at a minimum, pushes for standardised terms, such as contract length, warranties, a 30-day termination of convenience clause or 90-day payment terms. While this may make your lawyer and Chief Financial Officer (CFO) happy, Russell Korobkin suggests that using standard contract clauses is a bad idea.

5 core drivers for end-to-end procurement automation

SubhroSen_100.jpgSpeed to value can be elusive but it is of vital importance for any organisation.

Many procurement organisations realise the increasing pressure to maximise savings and accelerate delivery timelines. But they also want to mitigate supplier risks. Altogether, legacy manual processes and age-old frameworks compel procurement leaders to rethink their strategy.

Subhro Sen, from procure-to-pay solutions provider Zycus, discusses five core areas where digital procurement transformation augmented with artificial intelligence (AI), machine learning (ML) and robotic process automation (RPA) are driving value for organisations who are seeking fast-paced growth while trying to keep ahead of the competition.

This Halloween beware the scary, old-world CPO

TaniaSeary_100.jpgWith Halloween just past, it is time to consider whether your boss is scarier than your average ghoul or if your career is in the grip of a scary, old-world Chief Procurement Officer (CPO) and thus doomed to wither...

Tania Seary, Founding Chairman of three companies specialising in the development of the procurement profession - The Faculty, The Source and Procurious - takes a look.

3 roadblocks to implementing AI in procurement

SammeliSammalkorpi.jpegBy Sammeli Sammalkorpi, VP: Customers and Co-founder of procurement analytics solutions provider Sievo

In late 2017, MIT's Sloan Management Review (in collaboration with the Boston Consulting Group) seemed to confirm what most in procurement had long inferred. Our expectations for artificial intelligence (AI) are well out of proportion with our preparedness.

In short, we are fond of talking the talk, but almost totally unfamiliar with walking the walk. The abovementioned survey of more than 3 000 executives found that, while 85% expected AI to help "obtain or sustain a competitive advantage", less than 39% had any sort of AI strategy in place. Just one in 20 had "extensively incorporated" AI into their organisation's service offerings/day-to-day processes.


 

 

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