Chief Procurement Officer

hii sir, I wants to know about the Chief procurement officer job profile as I wants to apply for the Chief Procurement Officer post ?

A chief procurement officer (CPO) is an executive role focused on sourcing, procurement, and supply management for an enterprise.

Responsibility of the chief procurement officer

Creation and ongoing value creation with a world class supply base
Development of organizational procurement strategy
Creation and management of short, mid, and long term goals and objectives
Creation and improvement of best-practice based processes (e.g., leadership of high-value/strategic sourcing efforts)
Management of business process outsourcing activities
Identification and realization of cost-saving and cost-reduction opportunities
Selection and management of procurement systems
Management of procurement staff in (and across) sourcing, contracting, transactional purchasing, supplier management, and miscellaneous internal procurement support activities
Creating a talent management process in coordination with HR to ensure that the right resources are in place
Managing the skills and competency development of procurement staff, including training development and knowledge management capabilities
Leadership of cross-functional teaming across other business functions and initiatives
Budget management for categories under management – and for procurement itself
Development of benchmarks and scorecards to be used for continuous improvement
Building a Procurement Center of Excellence (CoE) to help transform Procurement, and also support broader transformation of the value chain and the enterprise


for becoming an Chief Procurement officer one may require the following Skills thart are as follow :

Qualifications

Skills:

Strong leadership skills
Team player at executive levels to collaborate with business units and functional partners like IT, finance, HR, legal, etc. The biggest reason for CPOs not staying long at a firm is due to culture
Solid operational management and general business skills and savvy
Working knowledge of finance and/or accounting in terms of budgeting, cost management, financial accounting, treasury, risk management, etc.
Industry knowledge in terms of broad industry dynamics on the buy-side (and the sell-side), but also the internal knowledge and “language of the business”
Excellent communication skills and even better listening skills that allows the CPO to get the “voice of the internal customer” and to understand the company culture and how to best communicate procurement’s value to it
Ability to “sell” procurement’s value and to run procurement as a services business like any other well-run professional services business
In-depth knowledge of sourcing and procurement principles and best practices, but doesn’t have to come from within the procurement ranks
Strong negotiation skills to use for large commercial deals
Experience with modern sourcing and procurement systems
Familiarity with relevant legislative and regulatory requirements, as well as understanding of standard contractual terms and conditions to mitigate legal risk
Strategic mindset and problem-solving skills
Change management skills and self awareness to take varying approaches with a dynamic set of stakeholders (e.g., expert model vs. facilitative model)
Knowledge of enterprise risk management and business continuity planning
Analytical mindset, but also creativity to seek, encourage and find non-traditional approaches that have historically “boxed-in” procurement

Experience

At least 10 years of senior supply management experience

Education
At least a Bachelor's degree in supply chain management, economics, finance, operations, engineering or a related area, with a Master's degree preferred.

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Answered By StudyChaCha Member