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CPO Thanksgiving Thumbnail

Thanksgiving is a special occasion. It is a time for gratitude and appreciation for all the positive things in life. At home, one is grateful for family, friends & good health.
In a professional context, one can, and should, give thanks to their colleagues, partners & other stakeholders for continued success.

So, what would a successful CPO’s 2022 Thanksgiving prayer sound like?

CPO Thanksgiving Main

  • I am thankful for my procurement team, the anchors in the storm –
    • who helped the production team through various supply-chain-disrupting events such as the Suez Canal blockage, Chinese port lockdowns, Russia-Ukraine geopolitical conflicts, trade wars, and semiconductor shortages, by predicting & reacting rapidly to supplier failures, thereby avoiding significant production delays
    • for accelerating our digital transformation, adopting technological innovations and helping put routine tasks on auto-pilot mode, which allows me to focus on strategic initiatives
    • driving sustainability by adopting both, product-based & supplier-based approaches to reducing emissions, implementing an energy grid management program, and more.
  • I am thankful for my buyers –
    • who effectively and ethically drive savings, bolstering the budget amidst inflationary trends, and uncertainty
  • I am thankful to my suppliers –
    • who have shown remarkable interest & zeal to contribute to new product development at a time where innovation is one of the only key differentiators driving competitive advantage
  • I am thankful to my AP & Finance team –
    • for living up to & going past the high standards of > 95% invoice accuracy in an environment of illiquidity & constantly evolving payments landscape.
  • I am thankful to my legal and contract management team –
    •  who got us out of more than one scrape, battling an unprecedented number of ‘force majeure’ and other risk-bearing clauses.
  • I am thankful for my recruitment team –
    • who, in the wake of the Great Resignation, ushered in a cohort of new joiners who have already begun making their mark in our organization
  • Finally, I am thankful to my CEO, who saw procurement’s strategic contributions & potential to the organization over the past few years, and offered us a seat at the proverbial table

These votes of thanks should be part of each CPO’s Thanksgiving prayers. However, if these prayers sound like a utopian ideal, it is an indication that your organization needs process improvements and a digital transformation, to achieve maximum success.

So, this festive season, take action and put Cognitive Procurement on your wish list to your Secret Santa!

Happy Thanksgiving, everyone!

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