“Given the changes in the technology space, changes in people’s aspirations, changes in what is expected of procurement, it’s just the right time to look at the wider procurement operating model and come up with a view on what’s going to work in the future. What strategy does the business really want procurement to deliver?”
You have just been appointed to a new CPO position. Your executive leadership team is looking at you to make an immediate impact while setting up procurement as a driver of sustainable, long term value. You know that your first 100 days in the role may make or break your career. What do you do? Where do you start?
In this special 5-part series, made possible through a partnership with Efficio, we will provide you with the roadmap you need to hit the ground running.
In the second episode of the series, I spoke with Vikas Tyagi, a Principal at Efficio, about the steps a CPO can take to create a high performing procurement operating model – from assessing the suitability of their inherited model to designing a new fit for purpose organizational structure.
In addition, Vikas and I discussed:
- Why now is the right time to reset procurement operating models
- Why it is so hard for everyone to know what to expect of procurement
- The standard elements that should be part of any procurement operating model
- Best practices from procurement organizations who have successfully changed their operating model
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Links & Resources
- Download the CPO’s First 100 Day Checklist that accompanies this series.
- Vikas Tyagi on LinkedIn
- For more information on Efficio
The team at Efficio have just published a major research study, called ‘The Human Factor: Strategic procurement and the leaders of tomorrow’, which they developed in cooperation with the Cranfield School of Management.
The research explores how a more tech-savvy, collaborative and strategically-minded future procurement workforce will ultimately require a reshape of organisational design, and serve as a driving force of transformational change alongside procurement technology.