Dynamic Procurement: The CPO as Collaborator, Innovator, and Strategist

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In a 2011 study from the Aberdeen Group, 120 finance, operations, procurement, and supply chain professionals were surveyed to define best-in-class enterprises based on the percent of total spend under management and the ability to realize negotiated savings.

The study found that best-in-class performers were more likely to:

  • Track identified savings against implemented and/or booked savings
  • Actively monitor supplier performance
  • Have a fully integrated procure-to-pay application

This report also lays out what any company must do to achieve best-in-class performance. This includes:

  • Improving category expertise for both core and non-core areas
  • Encouraging cross-functional coordination between procurement and other teams
  • Strengthening staff training in business areas that are critical to procurement

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