Answer to Question #177570 in Management for King kojo Agyire

Question

You are chief procurement officer of your company and have discovered that a category of spend has an opportunity for improvement. Discuss convincingly how this initiative can be achieved with the CEO by applying the strategic supplier relationship management as a frame work

Answer 1

While many CPOs may feel like they’re ready to drown in a sea of complexity, they can still find ways to stay afloat—or even identify new opportunities to move their organizations forward. This report explores how CPOs can change their lens on improving core value chains and organizational resources, tap transformational digital capabilities to revolutionize procurement, and become “complexity masters” able to turn the risks apparent in complex business scenarios into value creation opportunities. Specifically, we examine procurement complexity in four are

• Internal complexity: The challenges of managing inter functional relationships and aligning procurement with broader business objectives

• Talent complexity: People, organizational models, and how procurement teams execute on their business plans

• Digital complexity: Technology and processes issues that both mediate the other three complexity areas and fuel digital transformation efforts 

• External complexity: Everything outside the four walls of the organization that procurement must acquire and manage to serve its internal stakeholders