The evolving role of the Chief Procurement Officer (CPO)

The role of the Chief Procurement Officer is changing

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According to LinkedIn Economic Graph Research, CPO ranks 11th on the list of fastest-growing C-suite titles of 2020, with 15% growth (as a proportion of total C-suite hires last year).

Technology advancements have helped make that happen. Instead of the CPO being a mostly technical role, artificial intelligence and machine learning have automated many rote procurement processes, such as vetting vendors and negotiating prices.

That has allowed the CPO job to become more of a “qualitative or communication or a leadership function,” said Abe Eshkenazi, CEO of the Association for Supply Chain Management.

It frees the CPO up to do risk-scenario planning, reduce total lifecycle and ownership costs, and encourage innovation in procurement and beyond.

 

Find out more from Jen A. Miller at Supply Chain Dive: Supply Chain and Logistics News.

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