3
Empower Your “Shoppers”
Put Your Procurement Team at the Very Heart of Your Product Life Cycle—from Ideation to Postproduction
Speak to most CPOs, and they say that they and their procurement teams are invited to get involved in new product development only when it comes to negotiating with suppliers. This is way too late. We think they should not simply be involved in the process, they should be given central responsibility for the entire product-development process, from ideation to postproduction. This is what we mean when we say that the CEO should give the CPO a fresh mandate.
But what does this mean in practice? In our work with companies, we often talk about the importance of empowering the procurement function. Specifically, we say ...
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