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?
- 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!