LEADERSHIP
42 in the importance of a procurement organisation . In the past , it was rare to see a company with a CPO role ,” explains Lee . “ Usually procurement was a function that was under the COO or CFO ’ s remit and was primarily considered a cost-cutting department . They were essentially there just to ensure that they were getting the best deals and squeezing every dollar and cent out of the negotiation process .” However , Lee recognises that due to the advancement of technology , procurement professionals are now freer to focus on making relationships with suppliers more strategic . “ Technology is having a major influence . Now , all of a sudden , procurement is helping factories minimise stock outs and allowing supply chains to run more efficiently ,” he says . “ I ’ ve been talking to lots of customers recently and there ’ s an increasing number of organisations beginning to understand that you need a CPO function separate from the CEO . The scope is much broader than just cost-cutting .” With digital transformation shaking the supply chain industry up considerably , Lee believes digitalisation is centered around insights .
FEBRUARY 2020