Strategic CPO Tools to Make Your Processes Faster, Less Risky, and More Transparent
This CPO toolkit provides resources created by the C-Suite, for the C-Suite.
Changing your sourcing process isn’t easy. Bottlenecks and blockers don’t make it any easier, and mounting complexities from legal, contracting, and finance make it hard to prioritize.
Today’s Chief Procurement Officer is under rising pressures to deliver on objectives. In fact, less than 50% of CPOs have confidence in their team’s core capabilities, so procurement organizations are under fire to evolve. But what actions should be taken to do that?
Rather than reinvent the wheel, leading C-Level executives turn to their peers for proven advice on what to do–and even more critically, what not to do. With knowledge sharing in mind, this CPO toolkit offers role-specific resources that highlight what actions to prioritize and why.
Featuring success stories, frameworks, and game plans, this starting point will help you rethink your sourcing process pertaining to stakeholders needs, supplier value, and spend under management.
Core competencies covered includes ideas for:
CPO Tools: Planning and Leadership
Aligning Sourcing and Procurement Goals with Enterprise Objectives
- Assess performance against your 2018 sourcing and procurement goals
- Take corrective actions to drive transformative business impact
- Engage with stakeholders through a self-service model
CPO Tools: Key Procurement Business Processes
Mitigating Risk and Compliance
- Operationalize the process of onboarding and vetting suppliers
- Measure and monitor risk
- Find ways to improve supplier performance
Improving Sourcing Agility
- Develop stronger and more collaborative bonds with stakeholders
- Change internal processes quickly and efficiently to align with changing business needs
- Execute repeatable planning, logistics and reporting
CPO Tools: People Performance
Optimizing Processes and Team Efficiency
- Augment capabilities of a lean team in a complex organization
- Specialize team skill sets in data management, analysis, and execution
- Ensure that scalable processes are in place through automation and transparent dashboarding