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Key agenda items for CPOs

Key agenda items for CPOs & Procurement Leaders in 2024

On March 21, 2024, the third annual World Sustainable Procurement Day (WSPD) led by the Sustainable Procurement Pledge (SPP) will take place, convening procurement professionals from around the globe. With the motto #collaborate2accelerate, this day will empower and equip individuals and teams to make improved sourcing decisions that have a positive impact on both people and the planet. What is more, it is about driving courageous leadership for the procurement profession to ensure they have a seat at the strategy table and a say on how a sustainable future will take shape.

A challenging landscape

In the dynamic landscape of responsible procurement, we find ourselves amidst numerous challenges impacting both us and our businesses. The sheer magnitude of these challenges can be overwhelming, making prioritization a complex task. Your company’s sustainability strategy and Enterprise Risk Management system should ideally provide guiding principles. Ideally, there should be a singular sustainability and risk register, forged through collaborative efforts, with procurement playing a pivotal role in shaping this strategy due to the strategic importance of the supplier ecosystem.

This ambitious task necessitates Chief Procurement Officers (CPOs) to position themselves at the apex of the leadership triangle, working closely with Sustainability Officers and Supply Chain leaders for internal alignment. The shift from a sole focus on cost and value to a comprehensive approach encompassing supplier development, deep interactions, and a shared mindset for the strategic supplier community is imperative.

In this context, World Sustainability Procurement Day (WSPD) becomes pivotal, focusing on People, Planet, and Profession – a delicate balance involving supplier diversity, human rights, and the impact and empowerment of suppliers. Navigating the complexities of measuring and understanding scope 3 impact in the entire value chain requires collaborative efforts. No one has all the answers, but through sharing, listening, and collaborative engagement, we can collectively improve our approach to these challenges.

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