Procurement Executive Round Table (PERT) Symposium July 11, 2017

News provided by

The Mpower Group

Aug 03, 2017, 03:00 ET

Chicago, IL (PRWEB) August 03, 2017 -- The Procurement Executive Round Table (PERT) met for its 5th meeting on Tuesday 7/11/17 for a day long workshop on “Redefining the Role of the CPO” and based on the energy and level of discussion, it was clearly a “hot” topic. PERT is a relaunch of the highly successful Next Practices Xchange – “NPX”. The Shedd Aquarium was the perfect backdrop for our discussion groups which came up with some great ideas on how to move the CPO agenda forward. One CPO noted – “one of the best values for the investment I made – some great solutions to try back at the ranch.” Results of the Next Practices benchmarking survey prior to the meeting helped set the stage for the discussion. Dalip Raheja, President and CEO and Anne Kohler, EVP and COO of The Mpower Group facilitated the session leading to the following conclusions:

  • The CPO should be developing the Procurement organization as a “talent factory” for the rest of the company
  • Procurement should be part of the Sales team
  • Executives are looking for CPOs to adopt Sales (Revenue) goals to drive:
  • Better alignment with Sales
  • Enhanced credibility with stakeholders
  • Enhanced credibility with customers
  • Integrated planning
  • Changed mindset in Procurement (Cost to Value)
  • Suppliers can and should work with Procurement to increase revenue – we are not taking advantage of this
  • The Chief Marketing Officer is looking for Procurement to move beyond it’s “commodity” approach to develop “outcome based contracts” with its suppliers - this was major Ah Ha for many
  • Procurement should work with marketing suppliers to extract their intellectual property - market intelligence
  • Procurement should take the lead in identifying required competencies within the organization and determining how (perform vs. buy) to fill the gaps – Strategic Workforce Planning
  • Procurement drives strategic planning (workforce planning) and supplier management in addition to Sourcing for professional services
  • Managing supplier risk driven by Procurement can be a competitive differentiator and should be “marketed” as such to customers
  • Procurement should drive corporate risk management to adopt a portfolio approach to risk management

The benchmarking survey revealed a large gap between where most organizations are and where they need to be and the break out groups had a very lively exchange of ideas and practices that were shared amongst the participants. In addition to the ample networking opportunities including a mini-tour and the happy hour, every single participant was highly appreciative of the value they received – a very hard objective to achieve for any event like this.

About PERT
Procurement/Supply Executive Round Table (PERT), is a collaboration between The Mpower Group, Corporate United and ISM-Chicago. PERT is a “members-only” peer -to-peer organization comprised of senior executives from Fortune 1,000 organizations. The group meets quarterly to share ideas in a forum setting, provide advanced solutions and network. Each member brings expertise and varied talents to the group which allows all members to benefit from participation. PERT addresses major Global Sourcing and Supply Chain challenges such as:

  • Building World-Class Sourcing and Supply Chain Organizations
  • Relationship Management and Governance
  • The Difference between Strategic Sourcing and Category Management
  • Integration of Technology into Supply Chain
  • Competency Based Talent Management
  • Managing Outsourcing Arrangements
  • Emerging of the Chief Procurement / Supply Chain Officer

About The Mpower Group
The Mpower Group (TMG) is a global management consulting firm. We work with Fortune 500 companies to unleash the potential in their Strategic Sourcing, Procurement and Supply Chain organizations through Strategic Talent Management, Accelerating Transformations, and Maximizing Value from large or complex transactions. TMG is in the business of Mpowering our clients to accelerate exceptional business results by unleashing the full potential of their organizations. Our expertise ranges from developing strategies and executing large, global business transformations across entire organizations to assistance with specific projects or individual transactions.

Rick Sandoval, The Mpower Group, http://thempowergroup.com/, +1 (630) 268-8963, [email protected]