Guest Blog – Reliving the Procurement Event of 2016: Highlights from CPO Rising 2016 | DCR Workforce Blog

Guest Blog – Reliving the Procurement Event of 2016: Highlights from CPO Rising 2016

There’s no doubt that the business world is changing…and evolving. From the procurement function to financial operations and contingent workforce management, the corporate arena is becoming more and more complex by the year. Ardent Partners has long tracked and captured this evolution through its decades of expertise in multiple business industries, and, more importantly, its longstanding thought leadership across the supply management spectrum.

Last month, the firm hosted its inaugural executive procurement symposium, CPO Rising 2016. The event, held at the historic and elegant Harvard Club in the Back Bay district in Boston (only a short walk away from the heart of the city, as well as Fenway Park), highlighted a variety of evolutionary aspects to the greater procurement industry and featured nearly 20 top-tier speakers from a slew of industries and businesses across the globe (and nearly 130 procurement executives in attendance who had the ability to network and learn best practices).

While CPO Rising 2016 covered an assortment of hot-button issues and attributes within the procurement and supply management industries, there were a few key themes that stood out from last month’s event:

  • “Agility” becoming a bigger component Chief Procurement Officer’s agenda. The ability to react to dynamic and evolving business challenges is fast-becoming the top item on the CPO’s agenda. Agility itself is a desired state for many enterprises as they seek to remain competitive in the evolving global marketplace. At CPO Rising 2016, agility was a common theme shared by many speakers and attendees alike.
  • Innovation as the path forward for procurement executives. Innovation takes many forms, from new technologies and solutions to fresh approaches on traditional processes. During the Day One panel that featured four procurement luminaries (from the medical device, pharma, energy, and professional services industries), the notion of innovation was something that every panel member stated was a critical piece to the future success of their business.
  • Procurement’s role in managing growing categories, particularly the non-employee workforce. Over the past decade, procurement has seen its role expand to new and exciting business arenas, particularly around indirect and complex spend categories. The CPO Rising 2016 event highlighted a critical category in which procurement must enhance its involvement and ultimate impact: managing the non-employee workforce. Procurement can play a very valuable role in the modern-day contingent workforce management (CWM) by transforming information into intelligence and helping to play a “control” role in ensuring compliance, maintaining quality, and reducing costs.

CPO Rising 2016 showcased a variety of procurement thought leaders and proved that, as an evolving function, procurement is in a unique position to drive continued value to the greater business.

Thanks,

Christopher.


Disclaimer:
The content on this blog is for informational purposes only and cannot be construed as specific legal advice or as a substitute for competent legal advice. They reflect the opinions of DCR Workforce and may not reflect the opinions of any individual attorney. Do contact an attorney for advice specific to your issue or problem.
Christopher J. Dwyer is a Research Director at Ardent Partners, a Boston-based supply management research and advisory firm. He is considered a thought leader in the contingent workforce management industry with recognition from HRO Today as an “Analyst and Advisor Superstar” in 2013, 2014, and 2015, as well as from Supply and Demand Chain Executive Magazine (named as a “Pro to Know” in 2013). He is a premier thought leader in this industry, authoring hundreds of research studies and evangelizing the evolution of the non-employee workforce, its technology platforms, and the concept of the “future of work.” He welcomes your comments at cdwyer@ardentpartners.com, on LinkedIn or Twitter (@CJD_Ardent). Visit www.cporising.com to read more of his research.