Chief Procurement Officers (CPOs) should start thinking like CEOs

SalesMoney Matters
Written By Jennifer Joslyn

Chief procurement officers (CPOs) are responsible for a company’s resilience - as much as CEOs are responsible for its leadership. Stakeholders, both inside and outside of the organization, should collaborate with CPOs regarding changes needed for a company’s fruitful future. A supply chain strategy should be implemented by CPOs that requires timely and holistic solutions to current problems in the pipeline.

A certain brand of technological sophistication is also expected in this day in age. A new Gartner Inc. report states that 80% of companies will have digitized their ecosystems by 2030.

Read more from Supply Chain Brain ▶

You also might like...
Fast Fashion's Dirty Secrets And Why So Many Can't Quit
Fast Fashion's Dirty Secrets And Why So Many Can't Quit

A skit on "Saturday Night Live" recently spoofed fast fashion brands Shein and Temu, highlighting the industry's dark side.

Read More →
Memorial Day BBQ Costs Rise… So Prepare to Spend More
Memorial Day BBQ Costs Rise… So Prepare to Spend More

Planning a Memorial Day barbecue? Get ready to spend more than last year.

Read More →
McDonald's $5 Meal Deal Is A Limited-Time Offer That's Causing a Stir
McDonald's $5 Meal Deal Is A Limited-Time Offer That's Causing a Stir

McDonald’s is launching a $5 Meal Deal in the U.S. to attract customers amid rising inflation.

Read More →
Retailers Expect Middle-Market Demand This Holiday Season
Retailers Expect Middle-Market Demand This Holiday Season

U.S. retailers are gearing up for a cautious but steady holiday season, focusing on mid-range price items, according to a CNBC Supply Chain Survey.

Read More →
Walmart's High-Income Shopper Bubble Is Growing
Walmart's High-Income Shopper Bubble Is Growing

Walmart’s recent success, driven by higher-income shoppers, might not last.

Read More →
Hertz's Tesla Bet Is A Cautionary Tale
Hertz's Tesla Bet Is A Cautionary Tale

A few years back, Hertz took a bold step by purchasing 30,000 Teslas, aiming to electrify 20% of its rental fleet.

Read More →
McDonald's Ends Free Drink Refills, Sparking A Trend Across Fast Food
McDonald's Ends Free Drink Refills, Sparking A Trend Across Fast Food

Say goodbye to free soda refills at McDonald's, a move that's stirring up more than just the ice in customers' cups.

Read More →
McDonald's Plans $5 Meal Deal to Win Back Price-Sensitive Diners
McDonald's Plans $5 Meal Deal to Win Back Price-Sensitive Diners

McDonald's is reportedly gearing up to introduce a $5 meal deal, aiming to attract customers who felt priced out by recent hikes.

Read More →
Target Scales Back Pride Collection After Conservative Backlash
Target Scales Back Pride Collection After Conservative Backlash

In response to pushback from conservative activists, Target has decided to limit the in-store availability of its Pride Month Collection to roughly half of its 2,000 stores.

Read More →
Sweden's Experiencing a Surprising Billionaire Boom
Sweden's Experiencing a Surprising Billionaire Boom

Sweden, known for its social equality and high taxes, is now home to a growing number of super-rich individuals.

Read More →
XPO Logistics Exceeds Expectations in Q1 2024
XPO Logistics Exceeds Expectations in Q1 2024

XPO Logistics started 2024 on a high note, surpassing first-quarter forecasts and demonstrating robust financial performance.

Read More →
Costco's Strategic Gaps in Rhode Island, West Virginia, and Wyoming
Costco's Strategic Gaps in Rhode Island, West Virginia, and Wyoming

Costco, the membership-only warehouse chain, has significantly expanded across the U.S., boasting over 600 locations.c

Read More →
Hub Group Faces Financial Pressure Amid Weak Freight Market
Hub Group Faces Financial Pressure Amid Weak Freight Market

Phil Yeager, the CEO of Hub Group, highlighted ongoing financial pressures during the company's recent earnings call, pointing to a soft market mainly caused by an excess of truckload capacity that hasn’t yet exited the industry.

Read More →
California Fast Food Chains Raise Prices in Response to Minimum Wage Increase
California Fast Food Chains Raise Prices in Response to Minimum Wage Increase

Following California's new $20-an-hour minimum wage law that kicked in on April 1, fast food joints across the state have bumped up their menu prices.

Read More →
J.B. Hunt's Q1 Earnings: Missed Expectations Amid Challenges
J.B. Hunt's Q1 Earnings: Missed Expectations Amid Challenges

J.B. Hunt Transport Services didn't quite hit the mark this quarter, with earnings per share landing at $1.22, below the expected $1.50.

Read More →
Shifting Consumer Sentiment Sparks A Signal for Transportation and Logistics
Shifting Consumer Sentiment Sparks A Signal for Transportation and Logistics

In April, U.S. consumer sentiment took a sharper downturn than expected, hitting 77.9 from March's 79.4, reflecting growing concerns over inflation which continues to influence the economic outlook.

Read More →
New Delivery Surcharges by FedEx and UPS Affecting Urban Areas
New Delivery Surcharges by FedEx and UPS Affecting Urban Areas

FedEx and UPS have introduced Delivery Area Surcharges (DAS) in 82 additional ZIP codes across the US, covering nearly 1% of the population.

Read More →
Gucci's Slip as Kering's Shares Take a Hit Amidst Warning of First-Quarter Sales Dip
Gucci's Slip as Kering's Shares Take a Hit Amidst Warning of First-Quarter Sales Dip

Kering, a renowned French luxury brand, witnessed a significant decline in its shares, marking its worst performance to date.

Read More →
Dynamic Pricing Is Coming For Fast Food
Dynamic Pricing Is Coming For Fast Food

In the not-so-distant future, your ideal burger munching time might not align with your growling stomach.

Read More →
The Rise of Bowlus Travel Trailers in a Changing RV Landscape
The Rise of Bowlus Travel Trailers in a Changing RV Landscape

The U.S. recreational vehicle scene is typically dominated by massive, boxy models hailing from Elkhart, Indiana.

Read More →
Zara's Parent Company Breaks Records with Strong Sales and Expansion Plans
Zara's Parent Company Breaks Records with Strong Sales and Expansion Plans

Inditex, the parent company of Zara, saw a surge in its stock prices, hitting record highs after reporting robust early spring sales.

Read More →
Monaco Mogul's Carmel Property Spree Sparks Local Concern
Monaco Mogul's Carmel Property Spree Sparks Local Concern

A foreign billionaire's rapid acquisition of properties in Carmel, a picturesque coastal town, has sparked concern among locals.

Read More →
Macy’s Navigates Turbulent Retail Waters With Closures, Luxury Shift, and Activist Investors
Macy’s Navigates Turbulent Retail Waters With Closures, Luxury Shift, and Activist Investors

Macy’s announced plans to shutter 150 stores over three years and 50 by the end of 2024 following a fourth-quarter loss and declining sales.

Read More →
Fast-Fashion Giants Shein and Temu Disrupt Global Air Cargo Industry
Fast-Fashion Giants Shein and Temu Disrupt Global Air Cargo Industry

The rise of fast-fashion e-commerce giants like Shein and Temu is shaking up the global air cargo sector, according to industry insiders.

Read More →
Boeing Faces Delivery Decline Amid Safety Concerns
Boeing Faces Delivery Decline Amid Safety Concerns

In January, Boeing saw a decline in aircraft orders and deliveries following a midflight incident involving a fuselage panel on one of its 737 Max 9s.

Read More →
United Airlines Faces $2 Billion Loss Since Scrapping Flight Change Fees
United Airlines Faces $2 Billion Loss Since Scrapping Flight Change Fees

United Airlines made headlines three years ago when it axed flight change fees, a move that has cost the company an estimated $2 billion.

Read More →
Walmart's Ambitious Plans Include Over 150 New and Expanded Stores in the Next Five Years
Walmart's Ambitious Plans Include Over 150 New and Expanded Stores in the Next Five Years

Walmart, already a retail giant, is aiming to get even bigger. Over the next five years, the company plans to build or convert more than 150 large-format stores, with some expanding from smaller locations into Supercenters offering groceries and merchandise.

Read More →
Knight-Swift Faces Challenges Despite Revenue Growth in Weak Freight Market
Knight-Swift Faces Challenges Despite Revenue Growth in Weak Freight Market

Knight-Swift Transportation, a major player in the trucking industry, managed to increase its revenue despite weak freight demand in the last quarter of the previous year.

Read More →
Yellow Corp. Continues Asset Sales, Generating Over $82 Million from Terminal Leases
Yellow Corp. Continues Asset Sales, Generating Over $82 Million from Terminal Leases

The U.S. Bankruptcy Court has given the green light to Yellow Corp.'s sale of 23 terminal leases to various buyers, totaling $82.89 million.

Read More →
UPS and FedEx Extend Demand Surcharges Despite Lower Year-Over-Year Volumes
UPS and FedEx Extend Demand Surcharges Despite Lower Year-Over-Year Volumes

UPS and FedEx have decided to extend their demand surcharges for additional handling and large packages, despite lower year-over-year volumes.

Read More →
Jennifer Joslyn
Previous

CMA CGM SA billionaire CEO pushes back on French lawmakers new tax plan
Next

Younger generation of drivers attracted by tech-savvy carriers