The past few weeks have been busy across the Procurement Leaders ecosystem.
As we hosted senior leaders at Americas Procurement Congress and AI Forum in New Orleans, a group of Asia-based members congregated for a dinner and discussion in Hong Kong. Meanwhile, our various Cohort communities discussed everything from data infrastructure to supplier inclusion and how to build financial credibility into sustainable procurement strategies.
But it was another conversation I facilitated just a few days before that provided most food for thought – with a group of future CPOs.
The discussion was part of a mentoring programme we are running within the membership, and the participants had been nominated to participate as they are on track for bigger things. So, although they are a little earlier in their careers, these individuals are certain to make it to the C-suite before long.
These are the individuals who will be leading a function that will look very different to the one of today. A function with native AI capabilities, transactional roles removed, the vast majority of buying journeys automated through the deployment of agents and leaner, less category-focused teams in place.
As future CPOs, they will be managing multiple agents and using fewer resources to deliver against more value-adding activities, pivoting from category-specific plans to focus on business-led, agile, sourcing strategies.
The discussion was very much aligned with the focus of last week’s column where I explored Vertex Pharmaceuticals CPO Connie Walter’s assertion that a procurement function must be built around business leaders with procurement skill sets.
What was clear from this group, however, was an acceptance that those procurement skill sets are changing dramatically. The teams of future CPOs will act as consultants to the wider business, seeking out opportunities to shape new value, new business models and bringing supplier-enabled innovation into the business at scale.
It was a reassuring conversation. First, because the talent on show within the function is clearly at a very high level; and second, because there is an abundance of passion for ensuring procurement can continue to thrive and deliver significant value despite facing such disruptive forces.
So, if there’s one thing you should do after reading this column it’s to ask yourself one question: do you know who your successor is? And, if so, are they ready for what’s to come?
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