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Home » Why CEOs Look to Procurement Chiefs for an Innovative Strategic Agenda
CXO

Why CEOs Look to Procurement Chiefs for an Innovative Strategic Agenda

Tony UphoffBy Tony UphoffFebruary 6, 2023Updated:April 13, 20233 Mins Read
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AE Leadership

In this CXO conversation, Tony Uphoff is joined by Acceleration Economy analyst and Chief Procurement Officer (CPO), Joanna Martinez. The two explore the relationship between a CEO and CPO and define how to navigate the relationship in the context of supply chain challenges.

Highlights

01:09 — Joanna starts the conversation by asking Tony, a four-time CEO, what his expectations are concerning procurement and what he looks for in a CPO.

01:32 — Tony notes that he wants to see that “the train runs on time” — ensuring that supply chains are running smoothly — but is always on the lookout for incremental improvement within that. As a CEO, Tony wants his CPO to be passionate and focus on improving the ways that supply chains are running. Secondly, he is looking for a curious, innovative CPO, who is willing to introduce new technologies to make for more efficient operations and is aware of any risks. Finally, he notes the importance of having a CPO that has a strategic point of view.

03:24 — Joanna agrees that procurement, when done right, offers a unique opportunity for leaders to see what is needed, what the strategic plan is, the future direction of the company, and identify any weaknesses.

04:13 — Oftentimes, executives are likely not fully engaged in understanding the level of complexity that goes on within supply chains, suggests Tony. A CPO’s mission should be to “get the systems working the way they should be working,” which leads to strategic innovation.

05:01 — What are the gaps in what Tony currently sees between CEOs and CPOs? In his experience, the gaps are in the delicate balance between allowing CPOs to “have a seat at the table” and being involved in strategic planning and decision-making. He has seen procurement have a tremendous impact when CPOs are involved in those conversations.

06:50 — Typically, executives are thinking about giving CPOs a seat at the table, says Joanna, who advises CPOs to act like they own that seat.

08:26 — If someone has insights and is looking for new ways to innovate, odds are that executives are going to use those insights. Tony suggests it is less about having a seat at the table and more about what CPOs can offer. In many cases, he argues that a CPO’s insights surpass those of a CFO or any other C-suite member that already has a seat.

09:28 — Joanna agrees — particularly if the CPO is spending a lot of time with the supplier community. While the “goodwill” is there, Joanna believes it is time for procurement to step up to the plate to deliver and push a strategic agenda. Now is the time that CPOs will be listened to in a way that they may not have been in the past.


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Tony Uphoff

Acceleration Economy Analyst
4X CEO, Leadership Channel Host

Areas of Expertise
  • Board Strategy
  • Cloud
  • Digital Business
  • LinkedIn

Bringing his experiences a 4x CEO, Tony is the host of Acceleration Economy's Leadership Channel, and a Senior Advisor to the CEO and executive team at Xometry, a publicly traded, on-demand manufacturing marketplace. He most recently led the turnaround, growth, and successful sale of Thomasnet.com to Xometry in December of 2021 for $300m. Tony Uphoff is an award-winning technology, data, digital media and marketing services executive specializing in transformative leadership of companies, cultures, people and organizational performance. As an industry thought leader Tony is regularly quoted in The Wall Street Journal, Forbes, Business Insider, and other top media brands, as an expert on the digital industrial economy. Tony also advises senior management and boards of media, marketing, and technology companies as the CEO & Founder of Uphoff Management Advisory, LLC. He also serves as a Trustee of Linfield University and a Mentor at MuckerLabs accelerator.

  Contact Tony Uphoff ...

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