🌟 Congratulations on securing the role of Chief Procurement Officer! 🌟
Landing your dream job is just the beginning of an exhilarating journey filled with challenges and opportunities. As you step into this pivotal role, the first 90 days will set the tone for your success. Here are some key focus points to guide you through this crucial period:
👂 Listen and Understand:
In the initial days, immerse yourself in the needs and expectations of various stakeholders – from the CEO and board to the finance team, business units, but even suppliers, and customers. Grasp their pain points, priorities, and areas for improvement. Then effectively communicate your vision and how the procurement function aligns with the overall organizational strategy.
🔧 Shape Your Team and Structure:
Tailor your procurement team and structure to align with business requirements and objectives. Identify the skills and capabilities essential for success, and recruit, train, and absolutely retain top talent. Define clear roles, responsibilities, performance indicators, and incentives. Foster a culture of collaboration, but also innovation, and excellence within the procurement function and across the organization. That is the onmy way to gain confidence of the stakeholders what you will need to get your team involved early in the purchasing processes. Focus on your core and find great partners and tools for non-strategic or specialized work.
🚀 Deliver Results and Impact:
Analyze spend data to pinpoint categories and suppliers with potential for savings, value creation, and risk reduction. Implement sourcing strategies and negotiate contracts that optimize total cost of ownership, quality, and service levels. Embrace digital solutions (catalogues, tail spend partners, auction tools, contract management tools, …) to streamline processes, reduce costs, and mitigate risks. Regularly monitor and report on the outcomes, and don't forget to celebrate successes with your team and stakeholders.
Embarking on your journey as a CPO is an incredible opportunity to make a lasting impact. Delve deeper into these focus points and gain more insights.
Your first 90 days are the foundation for a successful tenure as a Chief Procurement Officer. Embrace the challenges, seize the opportunities, and lead with excellence!
💼✨ #CPO #ProcurementExcellence#LeadershipJourney #CareerMilestones #FocusOnCore #TailSpend #P2P #SmartProcurement
some slightly older but still surely still relevant links:
https://www.mckinsey.com/capabilities/operations/our-insights/your-first-100-days-as-cpo
