Procurement as a function is on a journey toward greater importance and influence. As it evolves beyond its transactional and back office roots, the department is becoming a strategic player focused on total value delivered including supporting revenue goals, reducing total cost of ownership, and developing partnerships with key suppliers.
However, when discussing procurement’s alignment with the overall business it becomes imperative to develop and establish a rapport with the stakeholders and executive team. Aligning the procurement department with the business strategies is of great interest to CPO’s and CEO’s alike. In this series find out how executive teams are better aligning their procurement functions with their business strategies to help ensure they are acting as business partners versus service providers.