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Scoring procurement performance can be as complex and nuanced as the value that the function delivers; linking that performance to overall business objectives and results can be even more difficult. Nonetheless, it is incumbent upon CPOs to “keep score” of their team’s performance to help procurement departments prioritize and focus their resources, track and improve their performance, and communicate how their work and results support enterprise objectives and what they plan to achieve in the future.
This presentation will highlight the latest trends and challenges facing today’s procurement professionals as reflected in the CPO Rising: Keeping Score survey. The survey, conducted by Ardent Partners and sponsored by Ernst & Young, reflects the experiences, performance, perspectives and intentions of more than 270 Chief Procurement Officers and other procurement executives around the world.
Ernst & Young will highlight case studies and feedback from leading organizations such as Proctor & Gamble, GE, Johnson & Johnson, Rio Tinto and Dow Corning. Some interesting findings include that 40% of organizations still do not have formal procurement processes and programs in place; and that getting the basics of procurement right in order to attain cost savings is still a major business objective.