The Importance of the Procurement Partnership
Posted on Wed, Dec 14, 2011 @ 12:56 PM
A new article in Supply & Demand Chain Executive Magazine looks once again at the importance of the CPO/CFO collaboration and revisited the topic discussed by Andrew Bartolini and Daniel Warn in a September web seminar sponsored by Puridiom and hosted by SDCE.
An effective procurement system often can come down to a pair of C-level personalities: the Chief Financial Officer and the Chief Procurement Officer. If these two don’t have a collaborative partnership, then efficiency—and the bottom line—will suffer.
Takeaways from the article were:
- Communicate
- Find common ground
- Agree on metrics
Andrew Bartolini referenced his report, The CFO and the CPO: One World, Two Worldviews in the web seminar and in the article. Daniel Warn, CPO of BCBS of Rhode Island referenced the centralized strategic sourcing and vendor management function that was developed with CPO/CFO collaboration and how significant realized and cost-avoidance savings was delivered with the help of Puridiom’s Purchase to Pay (P2P) System.
Read more on the topic, view the webinar, or read the report.