Procurement 2023: Ten CPO actions to defy the toughest challenges

Procurement leaders who had hoped that macroeconomic conditions in 2023 would make their jobs easier than last year are already disappointed. As the new year began, the volatility and inflation of the previous year showed no signs of abating (see sidebar, “Macroeconomic conditions straining procurement”). Some of the most important trends may persist well beyond 2023. What’s more, the procurement function itself continues to face major changes that have made its traditional operating models obsolete. Front-running procurement organizations are increasingly distancing themselves from the rest of the pack,...