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Skills of Successful Chief Procurement Officer

Skills of Successful Chief Procurement Officer

The general procurement manager is responsible for all actions with purchases at the company. The responsibilities of the CPO include: monitoring the implementation of the selected company's strategy, the search and selection of suppliers and control for procurement spendings.

Main responsibilities of the Chief Procurement Officer:

  • Procurement development

  • Identifying capabilities to reduce costs

  • Selection and management of procurement systems

  • Manage procurement budget

  • Manage department employees

Below we listed the skills for purchasing managers:

  • Strategic Thinking

  • Analytical mind

  • Knowledge of the risk management fundamentals

  • General understanding of finance and accounting

  • Negotiating skills, for making profitable commercial transactions

  • Communication skills, as well as listening skills

  • Leadership

  • Ability to work in a team and cooperate

The ideal applicant not only possesses the necessary skills, but also has a long working experience (10-15 years) in supply management.

Most often, pretenders are experienced procurement managers of related industries of other organizations. However, managers from absolutely opposite spheres of business (for example, consulting, engineering, finance) have high chances to be hired for such a position.

If we consider education, then, of course, a preferred economic education is preferable. You can try your luck with a bachelor's degree, but more often a candidate with a master's degree is chosen to be the head of any department. The existence of various kinds of certificates related to procurement management or related operations will also be an advantage.

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