Why is having a Chief Procurement Officer important?

A Chief Procurement Officer, in its simplest form, is an Executive responsible for supply management.

However, modern CPO’s are tasked with more than that. They must be fluent in data analytics, understand risk and co-ordinate global supply chains. And, according to a report in Raconteur, the most recent priority for CPO’s is leading ethical trade globally.

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“With consumers more aware than ever of their impact on the world, procurement is under scrutiny to ensure ethical sourcing throughout the supply chain,” Jonquil Hackenberg, Head of C-suite advisory at Infosys Consulting told the publication.

In addition: “The CPO must rely on the latest technologies to provide ‘proof’ of sustainability, such as provenance of product, but also must focus on how people across the supply chain are being treated.”