The procurement profession and the
role of the Purchasing Director (CPO) have changed in many unique and profound
However, just as CPOs and other
purchasing leaders are entering the new decade, dealing with intense challenges
and moving forward to achieve aggressive goals and objectives.
In this continuous efforts of
utilising most of the Resources that we have in our Pocket following are the
key Methods CPO should adapt in the improving the Process and evolving as well.
1) The Future of Work
And unparalleled, brings a great
future work opportunity but also significant challenges. Introducing demographic technological
developments and changes are having a deep impact on society and the labour
markets. The future of work is now - Rapid action needed for people to meet
challenges of changing world of work.
Rising to meet the demands of new challenges one must prepare to adapt
and quickly change what’s not working in the current scenarios and what can be
done to improve existing process. One of the key challenges faced by Horeca
industry currently Is “The “consumerization” of global business.” In the
consumer world, the average person can execute any number of processes or tap
into endless sources of content in an on-demand manner.
In many ways, the
business world has tried to follow suit. In the world of work, online talent
platforms and talent marketplaces have emerged to help organizations find,
engage, and source workers and services in an on-demand fashion, while ensuring
quality (to the degree it can be insured) via project- or role-specific
matching algorithms that alleviate execution concerns. When the “How will work
be done?” question arises, the contemporary enterprise can react from talent-
and process-led perspectives due to the consumerization of global business.
2) Innovation and Agility
Well innovation and renovation in
Horeca Industry never goes out of style. You always have to be on your toes in
order to Fulfil the requirements of the Customer and give them the best
experience they can have to maintain a classic relationship and satisfaction of
the Real word. But in order to perform some innovation one must adapt to
changing behaviour and patterns followed in the industry or create a new trend
which will ultimately achieve the Goal. CPO should be Agile to acquire new
processes as well as new ideas which will welcome the innovation.
As CPOs and procurement
practitioners move into 2020, they have the need and the capability for
advanced technology solutions to automate and link the source-to-settle process
– upstream, strategic sourcing and downstream, procure-to-pay (“P2P”). Digital,
automated supply management solutions can help overworked and understaffed
procurement teams scale resources and extend their power and influence
throughout the enterprise.
It matters less where business leaders implement and
drive technology adoption and more that they automate up (or down) the
source-to-settle value chain; and that they link the chain for maximum value.
Of course, even incremental automation can alleviate staff shortages and
workloads and allow procurement to return more value to the enterprise.
Averting a Disruption before it can harm the
system or Manage the Disruption caused by any uncontrollable factors is
considered as one of the Key Responsibilities for a CPO. When these kinds of things happen, the CPO is
at the best position to take the decisions and apply those into effect to
reduce the Harm Caused by the Strom or Completely eradicate the effects of it.
Chief Procurement Officers can take the lead
within the enterprise to overcome or make the best of the risks, challenges,
and disruptions that are occurring or approaching. After all, CPOs and their
teams have already been taking the lead on supply chain risk management,
sustainability, and other supply risk issues as well.
5) Put on A Bold Face
Everyone says one needs to be Bold and
Aggressive to drive the business ahead but it’s not that easy. Risk taking
abilities take time and with experience your thought process and
Decision-making ability improves. The visionary CPO always expects High Profits
on Low Risk module which is best suitable for the Horeca Industry. It’s always
better to think twice and take a decision than taking decision and thinking
again. The tendency to favour decisions that lead to more predictable outcomes
pushes many organizations to take more measured steps or simply stay in place.
The net effect of this behaviour is that in general, procurement organizations
are less aggressive than they should be in driving change. Chief Procurement
Officers must work to counteract organizational prejudices and more actively
push boundaries, challenge limits, and rethink paradigms.
To summon all the Agendas let’s
just say It’s an Exciting time to Work as a CPO, keeping in mind that one
should be Brave enough to embrace the Change and take a calculated Risk.
visionary and Agile CPO can perform better. The ability to manage Disruption
can be a Huge added Advantage.