Procurement leaders see strategy trailing structure and technology as barriers to future readiness. Even so, investing in a bold strategy from the start is important to truly transform operations in a sustainable way. Too often, organizations—procurement included—make incremental changes in pockets. They get stuck in the details of building the perfect business case, limited by organizational silos, or impatient for a fast return on investment. This creates a big risk of missed opportunity, and often, underwhelming results.
Emphasizing strategy at the enterprise-level is critical. For many CPOs, operational change in their own areas has traditionally been about cost savings. This is understandable, but it’s only part of the story.