In global business, procurement has become increasingly complex. Deloitte experts explore how CPOs can leverage talent, digital, and more to get ahead in 2020 and beyond paid Deloitte
Business partnering is not just a key priority for technology leaders, human resources, or other relevant stakeholder relationships CPOs have. Increasingly, the procurement function – which connects the business to suppliers in every corner of the globe and is more entwined than ever with business strategy – has begun tobusiness strategy and take a vocal role in the C-suite.
There is room to grow. Fifty-eight percent of CPOs are aligning their digital strategies to both their own objectivesto business strategy overall; in our survey, 74% of “complexity masters” did so, suggesting that those who can align digital tools with business priorities will be most successful. Training, recruiting, and unconventional talent partnerships all offer clear opportunities to close that gap and improve skills. Supplier collaboration and business partnering – both essential to executing procurement strategy and “leading” the way for the enterprise – emerged as a key priority for training, with 64% of CPOs aiming to train in this critical area. No other “soft” skill scored more than 38% in the survey.
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