To the uninitiated, procurement may seem like a “back office” support function. In fact, it can be a significant contributor to organizational value and a driving force behind gaining competitive advantage. To understand the links between procurement and enterprise performance we conducted one of the largest known surveys of procurement leaders to harvest insights on what actions and decisions are driving positive results. We found that to maximize its impacts on the organization, the procurement function must have a strong set of fundamental capabilities, become an influencer throughout the organization and embrace innovation. The Chief Procurement Officers (CPOs) of organizations that demonstrate these attributes often have a seat at the corporate leadership table – while their underperforming counterparts are relegated to more mundane tactical roles.
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