The impact of COVID-19 cannot be understated. Kantar’s Chief Procurement Officer (CPO) Stephen Day discusses his thoughts on industry trends as companies consider how to survive and even to thrive. He notes that supply chain transparency is rapidly growing in importance, as is establishing and maintaining connections throughout the supply chain. He highlights that many of the ongoing and upcoming challenges can be navigated by a CPO.
Stephen Day remarks, “The bottom line, which I’ve said before and will say again, is that procurement has evolved well past the one-dimensional profession that it once was (and at some companies, still is). The role is no longer simply meeting with vendors and typing up purchase reports; when done well, it involves a thorough understanding of internal and external business processes, deep knowledge of supply economics and market forces and genuine empathy for clients and customers. Put all those together and what do you have? Someone who you’d be remiss to not rely on as a pillar of your inner circle.” Read more here.
(Source: Stephen Day, Entrepreneur, 3/29/21)