… but it’s checklist for staying center stage is still valid 10 years later.
Ten Year’s ago SI published the below, and every word of it stands today. (Of course today you have to do even more, but you still have to do the below.)
The CPO Agenda’s Procurement Checklist for Staying Center Stage
Now that Procurement has received board attention as the greatest potential for cost savings in the organization, CPOs need to start planning on how they are going to keep that attention once the recession ends and the spending monkeys try to steal the spotlight again. Thinking (way, way) ahead, the CPO Agenda recently put together a good checklist for staying center stage that summarizes some of the key strategies that CPOs will need to pursue to help the board see Procurement as a driver of growth, innovation, and long-term cost reduction and not just a one-trick cost-saving pony.
- A Vision for Growth
- Value Chain
As the central point of the organization, Procurement is in a prime position to define organizational needs, asses the capabilities of internal resources, and define organizational core competencies. What other business unit touches not only every other business unit, but all of your partners as well?
- Solution Procurement
Procurement can source solutions that leapfrog current best-in-class and create a paradigm shift in customer value.
As the glue that binds modern organizations together, Procurement can play a critical role in the innovation process by bringing partners and ideas together.
- Value Chain
- Customer Relationship Management
As the one business unit that has every other business unit as a customer, Procurement is in a prime position to help the company better meet its customer expectations.
- Supplier Relationship Management
Procurement is already managing supplier relationships on a daily basis … it just has to help the organization understand that it needs to be the central point and the channel by which supplier capabilities are secured to support the company’s growth agenda.
- Supply Chain Optimization
Without an efficient supply chain, companies cannot support the chosen customer needs. In order to achieve its plans, all aspects of a company’s supply chain MUST be optimized. Procurement is in the best position to do that.
- M&A Due Diligence
The ultimate success of a merger or acquisition depends on whether or not the combined organization will be able to deliver more savings and more value … Procurement is in the best position to help make that call.