CPOs and their teams can take a page from this book and set themselves up for success going forward. Here's what they can consider: Focus on relationships and influence across functions and supply markets: Our research found that high performers and agility masters perform better on a higher "quality of [stakeholder] influence" rather than just the "quantity of sourcing-centric [spend] influence." Procurement organizations need to think of managed service providers and ecosystem partners as their extended enterprise and put stakeholder/customer management at the center of their strategy. They can build collaborative muscle by flipping their linear sourcing-centric approach to third-party/partner management and developing a holistic supplier management approach. Define a truly balanced scorecard: CPOs have generally done well in terms of achieving their savings targets.
Jan-13-2022, 08:50:37 GMT