The short answer is, fulfill the CPO Job Description, even though the order is as tall as it is wide. Use their skills, education, and experience to execute the primary responsibilities efficiently and effectively.
However, this doesn’t help you understand how to
- define the organizational Procurement strategy
- create and manage short, mid, and long-term goals and objectives
- create and leverage on-going value from the supply base
- manage BPO activities
- identify, realize, and maintain cost-saving and cost-reduction opportunities
So what do you do?
First of all, become A Procurement Leader.
Then, understand the primary responsibilities.
Support these responsibilities with the right procurement technology.
Then, be sure to practice good budget management and align procurement with the other business functions.
And, finally, don’t forget to focus on continual learning and self-improvement. While the maverick and the doctor covered a lot in our series on the CPO job description and what it takes to succeed as a CPO, one thing we didn’t spend a lot of time on was the importance of continual learning. Nothing about Procurement and Supply Management is static. Everything changes, and everyday provides a new challenge that must be death with. New disruptions. New innovations. New opportunities. New threats. That’s why SI and the new spendmatters.com/cpo site exist. To help you identify new practices, process, technologies, and ideas that will help you deal with all of the change to come but yet get through it.