A More Mission-Critical Role for Procurement

This is an excerpt of the original article. It was written for the May-June 2013 edition of Supply Chain Management Review. The full article is available to current subscribers.

May-June 2013

While supply chain planning based on end-user demand has been applied in the B2B arena for decades, it is only now becoming practical in retail channels. But as distribution resource planning tools and techniques emerge, trading partners can now coordinate their supply chain as if only one company were managing it—effectively connecting the consumer to the factory.

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In just the past few years, the role of the chief procurement officer (CPO) has changed dramatically. Beginning with the financial crisis in 2008 and 2009, through to the inevitable but volatile recovery that began in 2010, CPOs who have successfully dealt with shifting markets, economic turmoil, and general uncertainty have given their companies a big edge.

Under challenging economic conditions, sharp CPOs and procurement executives played a significant role in cutting costs. But equally important is the role they have played by responding to a rebounding economy. The best CPOs are helping to strategically guide growth in ways that are clearly contributing to the bottom line.

As a result, the CPO has been elevated to a role on equal footing to the rest of the C-suite, and their organizations are increasing their influence on business process owners and key stakeholders. Successful procurement strategies have focused C-suite attention on the overall importance of the function, and have led to more visibility—and influence—for the CPO. The best CPOs now have greater responsibility and control over business operations, including more active roles in crafting business strategy and initiatives.

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