“A significant number of Chief Procurement Officers (CPOs) report feeling overwhelmed by the increasing complexity and demands of their roles. Surveys from organizations like Deloitte and The Hackett Group show that more than 50% of CPOs express feelings of stress or being overwhelmed due to challenges such as Digital Transformation, Supply Chain Disruptions, Cost Management, and Savings Targets, and Talent Management.” (Source: ChatGPT)
The reality is that too many top executives on the practitioner side are looking for a silver-bullet solution to their dysfunctional leadership style, which inhibits rather than encourages communication and collaboration with internal and external stakeholders.
Unfortunately, solution providers are often pressed to hit quarterly sales targets rather than choose the right clients with whom to work. They then have to take the heat when initiatives go off the rails.
The initiative failure rate has remained constant at 80% over the past few decades despite each era’s technological breakthroughs. We aren’t dealing with a tech problem; we are dealing with a people problem and, more specifically, a senior executive problem.
It is easy to see how Deloitte arrived at its results: Only 26% of procurement leaders are seen as “highly effective” in driving strategic value for their organizations – https://bit.ly/4em2L8O.
Procurement Insights
What % of CPOs are overwhelmed and looking for a “silver bullet” ProcureTech solution?
Posted on October 3, 2024
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“A significant number of Chief Procurement Officers (CPOs) report feeling overwhelmed by the increasing complexity and demands of their roles. Surveys from organizations like Deloitte and The Hackett Group show that more than 50% of CPOs express feelings of stress or being overwhelmed due to challenges such as Digital Transformation, Supply Chain Disruptions, Cost Management, and Savings Targets, and Talent Management.” (Source: ChatGPT)
The reality is that too many top executives on the practitioner side are looking for a silver-bullet solution to their dysfunctional leadership style, which inhibits rather than encourages communication and collaboration with internal and external stakeholders.
Unfortunately, solution providers are often pressed to hit quarterly sales targets rather than choose the right clients with whom to work. They then have to take the heat when initiatives go off the rails.
The initiative failure rate has remained constant at 80% over the past few decades despite each era’s technological breakthroughs. We aren’t dealing with a tech problem; we are dealing with a people problem and, more specifically, a senior executive problem.
It is easy to see how Deloitte arrived at its results: Only 26% of procurement leaders are seen as “highly effective” in driving strategic value for their organizations – https://bit.ly/4em2L8O.
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