Duties of a Chief Procurement Officer
As a key leader in the organization, the CPO have a wide range of responsibilities and are expected to have various procurement skills. Following are the essential duties of a CPO:
Develop a procurement strategy. The CPO is expected to produce a procurement plan and strategy to reduce and contain costs; evaluate and help select suppliers; ensure excellent supplier performance; oversee and sometimes participate in contract negotiations; guarantee the highest level of ethics in every transaction; and ensure procurement policies and procedures meet internal and external compliance requirement around diversity initiatives, social responsibility goals and other such programs. Ensure products and services are delivered promptly. The CPO is responsible for guaranteeing diversity of suppliers in terms of numbers and ensuring that supplies continue if a first-choice provider is unable to deliver the ...