@FlyingScot, if a company is involved in physical product development then procurement department is key though i agee that the role of a CPO may not be that critical until a company attains a critical mass. Apart from building a strong supply-chain, the procurement department plays a crucial role in making a bridge between the suppliers and the finance department in case there are financial troubles in the company.
@Mimanshugupta, I agree.... at the very least, there needs to be solid translation from purchasing and supply chain speak to real business dialog. No one in the boardroom takes things seriously unless they understand what it means in a basic business sense.
Dear Diptarup, what are your thougths on opportunities available for BigData in procurement especially after globalization. Have companies already applying optimization, forecasting etc techniques and are there areas where such techniques can be useful.
@Hailey, i think that the biggest challenge for CPO is to show the strategic and financial benefits to the board. Today the problem for procurement is not much about finding the suppliers or negotiate but the supply chain optimization, contractual obligations, capacity management, inventory management etc.
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