Your first job as CPO should be used to grab as much information from stakeholders as possible, the top procurement consultancy at Odesma said. If you are a Buyer starting as a CPO in a new business you should avoid over-selling yourself or the procurement function when first meeting new stakeholders. Why not try and use those initial meetings to learn about the culture of the business you are now working for.
“Getting to know the team, business and procurement function within your new business will give you a great knowledge base for the future, allowing you to understand the strengths and weaknesses of the procurement function.” explains Ed Cross, Managing Director at Odesma.
This grounding will help you understand how the business culture works and gain an understanding on how much the team works together and whether they understand the business and its needs.
Set up a mission for the function so the business knows why procurement exists and what it does. For example, Our procurement function is about optimising cost, minimising risk and maximising contract performance. Its about teaching stakeholders what procurement’s responsibilities are, and how the function works to find savings. By using visuals you can hone in on categories and put it in a way people understand and can clearly see.
In addition stakeholders want to know where the savings are and how they can be made. Try narrowing it down by category this will make it clearer for everyone and they might realise places where changes are being made.
Finally, don’t lose touch with your stakeholders, review their needs and wants and review each function as if you were starting off as a new CPO to the business. Good Luck!