Chief Procurement OfficerKnowledge Center |
12 items • 27.149 visits
Sign up for free
Welcome to the Chief Procurement Officer center of 12manage.
Here we exchange knowledge and experiences in the field of Chief Procurement Officer.
❗Sign up now to gain access to 12manage. It's completely free.
What is a Chief Procurement Officer?A Chief Procurement Officer (CPO) is the most senior company executive responsible for all decisions related to the acquisition of raw materials, goods and services. The Chief Procurement Officer is in charge of managing all buying decisions for the firm. The CPO manages extensive research projects about an industry prior to making key procurement decisions. The CPO is responsible for managing relationships with key suppliers and for the entire Purchasing Portfolio of the firm, ranging from strategic items and Co-Creation to bottleneck items and Vendor Managed Inventory to office supplies. Typically he is managing a team or department of purchasing managers. Over time, due to increasing competition and Globalization, internationalization of business processes and fragmentation of supply chain activities, procurement decisions and strategies became more important in large firms. From an increased importance of procurement derived a need for creating a position that, similarly to other CXOs, could contribute to a company's value creation by optimizing a major corporate function. The following challenging Demands on Chief Procurement Officers were identified in a 2008 Global CPO Survey by Cap Gemini:
Compare with: Chief Executive Officer | Chief Financial Officer | Chief Procurement Officer | Chief Operating Officer | Chief Technology Officer | Chief Information Officer | Chairman of the Board | Corporate Governance |
|
Return to Management Hub: Change & Organization | Decision-making & Valuation | Supply Chain & Quality More on Management | Return to Management Dictionary |
This ends our Chief Procurement Officer summary and forum. |
About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
© 2024 12manage - The Executive Fast Track. V17.2 - Last updated: 20-5-2024. All names ™ of their owners.