Page 6 - CareerBootCamp-Brochure2016
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5 sure-fire ways Want to climb the procurement career ladder to 3. Know the whole business
to become a CPO the very top? If you want to be a successful CPO,
you need to learn from the best. Today about 80 per cent of spend in a company is external, and
Tom Derry 80 per cent of that is managed by the CPO. The entire business
The Institute for Supply Management (ISM) is focused on helping is sitting on this cost structure, which the CPO is ultimately
CEO, ISM® you reach your career goals. As the CEO of ISM, I am in daily responsible for.
communication with CPOs who work in a variety of industries.
“Outcomes matter in business. We Clearly, we impact the whole business – we must understand it.
need to be able to establish a track Because of this, I understand what it takes to be successful in that
record, consistently follow through, position. While each individual has a unique and valuable skill set, In addition, we need to understand how what we are sourcing
and be relied upon to deliver.” there are common threads of what has made it possible for them meets the demands of our end customer. I might be sourcing
to thrive in their roles. a basic commodity, like a resin. That resin could be a critical
Love this article? component of a product that drives 30 per cent of our company’s
Share with your contacts via Procurious! I want to share what, in my opinion, are the key factors to help revenue.
you on the path to CPO.
The company’s success relies on my ability to source that
1. Master your craft commodity.
Whether it’s being an expert at preparing a category plan, cost 4. Model your behaviour
analysis, or a total cost of ownership analysis, what you do has
an impact on your organisation’s bottom-line. When your leader You have an extraordinary opportunity at an early age to represent
needs someone to get the job done you need to be the go-to the company to external third parties. It’s common for young
person. professionals to sit down with the CEO of a supplier to work out the
next contract.
As you become a master of your craft you are able to free up
more bandwidth which will allow you to take on new – possibly Be conscious of this and take this incredible opportunity to learn
more strategic – opportunities. from people who are seasoned in the profession. Watch how they
handle a negotiation, diffuse a conflict, or how they turn your point
2. Deliver reliable results around to their favour.
Outcomes matter in business. We need to establish a track Witness this and then model your behaviour based on how other,
record, consistently follow through, and be relied upon to deliver. more experienced professionals, handle these situations.
That ability to be seen as someone who can deliver, builds your
professional reputation and makes you an invaluable member of 5. Find a mentor
a team.
Look for someone in your firm or where you previously worked
Particularly in our field this often relates to being able to hit cost or both. A mentor will be available to ask questions about new
reduction targets while possessing a keen understanding of assignments, unforeseen challenges, and offer career advice.
where risk resides.
Finding someone who is not your supervisor allows you to ask these
types of questions in a pressure-free environment. Developing
these types of relationships will build your professional network and
increase exponentially in value throughout your career.
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