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Procurements most valuable players Jesus Campos , CEO CorporateLATAM, once wrote on Spend Matters that procurement functions must address two key areas to navigate the uncertainty of global markets: riskmanagement and organizational structure the latter being relevant to our discussion on procurement transformation.
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Procurement Priorities for 2025 and Beyond The manufacturing industry is evolving rapidly, leaving ChiefProcurementOfficers (CPOs) grappling with challenges that could make or break their organizations. This can free up procurement professionals to focus on higher-value activities.
The US administrations announcement of reciprocal tariffs in early April sent a jolt through global supplychains. For many ChiefProcurementOfficers (CPOs), the real message was clear: Volatility is back, and this time, it demands faster, more coordinated and more data-driven responses.
And if your organization is big enough to need a ChiefProcurementOfficer , that person is directly or indirectly responsible for every stage of that journey. In this way, the procurement function becomes a strategic business partner that not only contains costs but delivers true value and even helps to generate revenue.
Let’s say, for example, a supplier of facility management fails to meet its contractual obligations, causing the bank to make substantial losses. The bank’s ChiefProcurementOfficer may want to change vendor. He is likely to come under pressure to do so.
Subscribe to SupplyChain Game Changer. Featuring Our 12 Best Procurement Articles! Procurement is a function that is undergoing an exciting transformation in the majority of global value chains; simultaneously, within its own strategy, process, and technology. Subscribe Here! Email Address. Dirty Little Secret #1.
Hansens agent-based Metaprise Model directly addresses the core concerns of ChiefProcurementOfficers (CPOs) by combining human-AI collaboration, real-time adaptability, and ecosystem-wide integration. There is more to e-procurement than software! 7585% e-procurement initiative failure rates).
ChiefProcurementOfficers (CPOs) are daunted with the demanding task of identifying and breaking these cartels. As Chiefprocurementofficers (CPOs), you have to identify and break these cartels, especially in a reverse auction process. Competition laws often forbid private cartels. Contact us today.
Once upon a time, a ChiefProcurementOfficer (CPO) may have been able to make decisions by relying on his instinct, which is simply based on years of distilled experience. Data-driven procurement can help leaders keep up pace with the much-needed agility. 96% of the leaders believe that this a long-term trend.
The Essential Guide to Source to Pay, Source to Contract, and Procure to Pay Whether youre new to the world of procurement and supplychainmanagement, or a seasoned veteran; whether you work in a major manufacturing industry, a university, or a medium-sized clinical research organization, you may find procurement jargon rather confusing.
Subscribe to SupplyChain Game Changer. At SupplyChain Game Changer we believe in sharing experiences and expertise from people in every industry and from across the globe. As such we have introduced our “ Seasoned Leadership in Action ™” Interview series at SupplyChain Game Changer.
Wolfgang thinks it’ll need a structural mandate to empower procurement. It’s frustrating that procurement always gets so little time and money spent on it, so late in the process. . I say that it’s easy to convince CEOs with BCG stood behind him, but what tips would he have for chiefprocurementofficers looking to do the same?
Before we dive in, let’s first set the stage by discussing EmpoweringCPO, a leader in the field of managedprocurement services. Our goal is to empower ChiefProcurementOfficers (CPOs) and their teams by providing a suite of comprehensive managedprocurement services.
We covered a lot of ground in this 25-minute podcast and this podcast is going to be exceptionally beneficial to you if you are currently looking at your supplychain and wondering how can we improve visibility, how can we reach our sustainability goals using our supplychains and how do we know what is in this product?
At the same time, procurement technology has become more affordable and easier to use. The number of procurement tools on the market has of course multiplied too, especially in the last 5 or so years. So, how will this impact category management? Is the procurement category manager an endangered species?
Subscribe to SupplyChain Game Changer. As we see from Deloitte’s CPO Survey in 2018, AI is only fully deployed in 2% of procurement organizations and is far from making any real impact at scale within the digital ecosystems procurement teams are so eagerly trying to build. AI + Data = SupplyChainRiskManagement.
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