ProcurementAlert.com » 2008 Spotlight on procurement practices

2008 Spotlight on procurement practices

March 14, 2008 by Charlie Walker
Posted in: Latest News & Views, Procurement costs, Procurement trends, Purchasing decisions

Chief Procurement Officers are being ordered to stand front and center: You’re probably used to working behind the scenes, but as your jobs will become even more critical in 2008, experts warn your days of flying under the radar are likely to be dwindling.

That’s because the word has gotten out: CPOs on the rise are getting there by demonstrating ever-stronger competence. Best-in-Class companies have found success by placing 70% or more of their spend under Chief Procurement Officers, according to a recent Aberdeen Research study.

What are top-notch Procurement people doing to earn such high recognition? They’re coming up with ways to open and sustain communication with other departments at their companies, and saved money and improved efficiency by improving business relationships with suppliers.

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