A CPO’s 2022 Thanksgiving Prayer

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!