“I think it’s an exciting time for procurement. There’s a lot of change in the air and a lot of excitement about the opportunities that will come from a shift away from the traditional cost savings to other ways in which procurement can leverage those relationships with suppliers and that market intelligence in new and exciting ways.” – Geraldine Craven, Procurement Leaders’ Head of Research
In this week’s podcast, Philip Ideson is joined by two members of the Procurement Leaders team, David Rae, their Chief Product Officer, and Geraldine Craven, Head of Research. They recently completed a study in cooperation with Bain Consulting to understand what is changing in advance of the arrival of 2020 and what remains the same.
In this conversation, David and Geri talk about the key recommendations in Procurement Leaders’ 2020 CPO Planning Guide, including:
- The need for procurement to connect with the broader C-suite agenda
- The organizational differentiation that Procurement Leaders is seeing among companies that focus the customer experience, innovation or risk management
- Whether it is easier to drive transformation when change is already underway or when a team is at the beginning of their journey
- The skills that leadership teams need to make sure are in place within procurement, and why it is critical that procurement recruit from outside the function