Many executives are torn today between meeting the current state demands being pushed on to procurement for supply assurance and cost reduction, all the while frustrated knowing  what the full potential of a world-class supply management organization is capable of delivering.

Moreover, chief procurement officers (CPO) view procurement’s future role to be one that challenges many of the existing assumptions and perceptions of procurement as a “cost savings enabler,” evolving into a “trusted partner,” and finally moving into a future role as a “supply chain innovator”.

In November 2014, PROCUREMENT SUCCESS Summit will bring together 200+ procurement executives from large and medium-size global and national corporations, figuring out the effective methods to drive growth and change.

Cost Reduction

Vast fluctuations in commodity prices due to financial and political instability have become the norm in recent years. Unfortunately no end is in sight when it comes to trying to predict the various prices of the supplies you need. It has become therefore even more vital to ensure that your cost strategy is effective, flexible and implemented by the right people with the right skillset.

At panel discussion, procurement vice presidents will present an analysis into what one company is doing to improve their procurement management strategies in a volatile world:

• Where is the next wave of opportunity to make savings? Where to find the opportunity in the supply chain – both internally and externally?

• How to find more creative ways to cut costs, having already faced four years of economic constraint?

• Short term gain over long term strategic value – how to deal with these economic stresses as well as managing a procurement team in a stressed environment? How to balance the tactical versus strategic role of procurement?

• How can procurement help their companies grow in a market that is no longer growing?

Procurement Leadership and CPO’s New Role

Companies as varied as Skype, Coca Cola, Procter & Gamble, and Apple are acutely aware that their success no longer depends on doing everything themselves. These companies, and many others like them, have defined the business functions they are truly good at. 

They focus their internal resources on these functions, while tightly orchestrating a value chain, which spans functions from market insight and product development to delivery and customer service, and includes many well-managed external partners and suppliers. 

The conference chairman, Shahid Javed, the Chief Procurement Officer of BP will show delegates how to prioritize broader business acumen over traditional procurement skills in CPO’s new agenda, and take fresh approaches to developing the talent of the future.

View more information on: http://anldk.com/acwmiv/