{"id":3004,"date":"2010-12-16T14:07:00","date_gmt":"2010-12-16T14:07:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2010\/12\/16\/has-procurement-dropped-off-of-cfos-radar\/"},"modified":"2021-07-27T10:07:19","modified_gmt":"2021-07-27T14:07:19","slug":"has-procurement-dropped-off-of-cfos-radar","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/","title":{"rendered":"Has Procurement Dropped Off Of CFOs&#8217; Radar?"},"content":{"rendered":"<p>Today, I received the most recent edition of CFO magazine in the mail. I was disappointed at the headline on the cover:<\/p>\n<p>Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/p>\n<p>LET\u2019S TURN THIS THING AROUND \u2013 How to kick-start 2011 with new strategies for:<\/p>\n<ul>\n<li>Capital raising<\/li>\n<li>Top-line growth<\/li>\n<li>Career development<\/li>\n<li>Technology<\/li>\n<li>And more<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>No mention of procurement. =(<\/p>\n<p>The article represented by this headline also didn\u2019t mention procurement. In fact, it demonstrated that CFO\u2019s are not as concerned this year with what has traditionally been viewed as the specialities of the procurement disclipline: cost cutting. The following excerpts highlight this sentiment:<\/p>\n<ul>\n<li>\u201c\u2018Cost cutting for us is over,\u2019 says Taiyo Yuden (U.S.A.) CFO [Joseph] Wilkinson. \u2018Obviously, we\u2019re always going to be looking for ways to be more efficient, but overall cost-cutting is essentially complete.&#8217;\u201d<\/li>\n<li>\u201cWhile American Woodmark expects to find additional cost-cutting opportunities in 2011, [their CFO Jonathan] Wolk says, they are likely to be minor by comparison [to cost cutting efforts in prior years].\u201d<\/li>\n<\/ul>\n<p>So, if cost cutting is a lower priority, does that mean that the procurement function will face a decline?<\/p>\n<p>Not necessarily.<\/p>\n<p>But it shows that it is time that we all start thinking about procurement more broadly and not just as a producer of cost savings. Here are ways that the procurement function can contribute to organizational success \u2013 and remain important to CFO\u2019s \u2013 in a growing economy that is more focused on revenue growth than revenue reduction:<\/p>\n<ul>\n<li>As demand picks up, work more closely with suppliers to ensure that supply keeps up.<\/li>\n<li>Bring in innovative ideas from the supply base that may help your organization\u2019s goods and services be more marketable and superior to the competition\u2019s.<\/li>\n<li>Know your spend so well that you would be able to quickly identify synergies in the event that your organization acquires another company. CFO\u2019s interviewed for the magazine article expressed a desire to grow, a challenge of growing organically, and an easier time getting credit \u2013 an environment that is ripe for mergers and acquisitions.<\/li>\n<li>Be able to identify cost savings even when overall expenses rise due to increased volume. This is tricky, but is thoroughly covered in our online class \u201cFinance For Strategic Procurement, Part I.\u201d<\/li>\n<\/ul>\n<p>This is a critical time for procurement. We\u2019ve made a lot of headway in getting CFOs\u2019 respect. As the focus shifts away from cost cutting, you need to modify your strategy to retain and increase the recognition that your work gets from senior executives in your organization.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today, I received the most recent edition of CFO magazine [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4119,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3004","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.4 (Yoast SEO v19.13) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Has Procurement Dropped Off Of CFOs&#039; Radar? - Next Level Purchasing Association (NLPA)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Has Procurement Dropped Off Of CFOs&#039; Radar?\" \/>\n<meta property=\"og:description\" content=\"Today, I received the most recent edition of CFO magazine [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/\" \/>\n<meta property=\"og:site_name\" content=\"Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2010-12-16T14:07:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-27T14:07:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/11\/nlpa-images-129.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1067\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Galo Matagay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Galo Matagay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"Has Procurement Dropped Off Of CFOs&#8217; Radar?\",\"datePublished\":\"2010-12-16T14:07:00+00:00\",\"dateModified\":\"2021-07-27T14:07:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/\"},\"wordCount\":431,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#organization\"},\"articleSection\":[\"Procurement\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/\",\"url\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/\",\"name\":\"Has Procurement Dropped Off Of CFOs' Radar? - Next Level Purchasing Association (NLPA)\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#website\"},\"datePublished\":\"2010-12-16T14:07:00+00:00\",\"dateModified\":\"2021-07-27T14:07:19+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.certitrek.com\/nlpa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Has Procurement Dropped Off Of CFOs&#8217; Radar?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#website\",\"url\":\"https:\/\/www.certitrek.com\/nlpa\/\",\"name\":\"Next Level Purchasing Association (NLPA)\",\"description\":\"The Next Level Purchasing Association\",\"publisher\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.certitrek.com\/nlpa\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#organization\",\"name\":\"Next Level Purchasing Association (NLPA)\",\"url\":\"https:\/\/www.certitrek.com\/nlpa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/08\/NLPA-logo-small-1.png\",\"contentUrl\":\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/08\/NLPA-logo-small-1.png\",\"width\":149,\"height\":50,\"caption\":\"Next Level Purchasing Association (NLPA)\"},\"image\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.linkedin.com\/company\/next-level-purchasing-association\/\",\"https:\/\/www.youtube.com\/channel\/UCrNZYjcLcaNA4xMKQHEGamw\",\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\",\"https:\/\/twitter.com\/nextlevelpurch\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\",\"name\":\"Galo Matagay\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/34d4be7be9c43eeb480e7e32739c2f3f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/34d4be7be9c43eeb480e7e32739c2f3f?s=96&d=mm&r=g\",\"caption\":\"Galo Matagay\"},\"description\":\"Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aenean consequat rutrum ipsum quis iaculis. Duis non porta purus, tincidunt tristique mi. Cras eleifend tincidunt mollis. Aliquam egestas velit vitae interdum egestas. Aliquam vel lorem egestas lectus porttitor volutpat nec sit amet enim. Nullam bibendum vestibulum imperdiet.\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Has Procurement Dropped Off Of CFOs' Radar? - Next Level Purchasing Association (NLPA)","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/","og_locale":"en_US","og_type":"article","og_title":"Has Procurement Dropped Off Of CFOs' Radar?","og_description":"Today, I received the most recent edition of CFO magazine [&hellip;]","og_url":"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/","og_site_name":"Next Level Purchasing Association (NLPA)","article_publisher":"https:\/\/www.facebook.com\/NextLevelPurchasing\/","article_published_time":"2010-12-16T14:07:00+00:00","article_modified_time":"2021-07-27T14:07:19+00:00","og_image":[{"width":1600,"height":1067,"url":"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/11\/nlpa-images-129.jpg","type":"image\/jpeg"}],"author":"Galo Matagay","twitter_card":"summary_large_image","twitter_creator":"@nextlevelpurch","twitter_site":"@nextlevelpurch","twitter_misc":{"Written by":"Galo Matagay","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/#article","isPartOf":{"@id":"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/"},"author":{"name":"Galo Matagay","@id":"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa"},"headline":"Has Procurement Dropped Off Of CFOs&#8217; Radar?","datePublished":"2010-12-16T14:07:00+00:00","dateModified":"2021-07-27T14:07:19+00:00","mainEntityOfPage":{"@id":"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/"},"wordCount":431,"commentCount":0,"publisher":{"@id":"https:\/\/www.certitrek.com\/nlpa\/#organization"},"articleSection":["Procurement"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/","url":"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/","name":"Has Procurement Dropped Off Of CFOs' Radar? - Next Level Purchasing Association (NLPA)","isPartOf":{"@id":"https:\/\/www.certitrek.com\/nlpa\/#website"},"datePublished":"2010-12-16T14:07:00+00:00","dateModified":"2021-07-27T14:07:19+00:00","breadcrumb":{"@id":"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.certitrek.com\/nlpa\/blog\/has-procurement-dropped-off-of-cfos-radar\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.certitrek.com\/nlpa\/"},{"@type":"ListItem","position":2,"name":"Has Procurement Dropped Off Of CFOs&#8217; Radar?"}]},{"@type":"WebSite","@id":"https:\/\/www.certitrek.com\/nlpa\/#website","url":"https:\/\/www.certitrek.com\/nlpa\/","name":"Next Level Purchasing Association (NLPA)","description":"The Next Level Purchasing Association","publisher":{"@id":"https:\/\/www.certitrek.com\/nlpa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.certitrek.com\/nlpa\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.certitrek.com\/nlpa\/#organization","name":"Next Level Purchasing Association (NLPA)","url":"https:\/\/www.certitrek.com\/nlpa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/logo\/image\/","url":"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/08\/NLPA-logo-small-1.png","contentUrl":"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/08\/NLPA-logo-small-1.png","width":149,"height":50,"caption":"Next Level Purchasing Association (NLPA)"},"image":{"@id":"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/next-level-purchasing-association\/","https:\/\/www.youtube.com\/channel\/UCrNZYjcLcaNA4xMKQHEGamw","https:\/\/www.facebook.com\/NextLevelPurchasing\/","https:\/\/twitter.com\/nextlevelpurch"]},{"@type":"Person","@id":"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa","name":"Galo Matagay","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/34d4be7be9c43eeb480e7e32739c2f3f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/34d4be7be9c43eeb480e7e32739c2f3f?s=96&d=mm&r=g","caption":"Galo Matagay"},"description":"Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aenean consequat rutrum ipsum quis iaculis. Duis non porta purus, tincidunt tristique mi. Cras eleifend tincidunt mollis. Aliquam egestas velit vitae interdum egestas. Aliquam vel lorem egestas lectus porttitor volutpat nec sit amet enim. Nullam bibendum vestibulum imperdiet."}]}},"acf":[],"_links":{"self":[{"href":"https:\/\/www.certitrek.com\/nlpa\/wp-json\/wp\/v2\/posts\/3004"}],"collection":[{"href":"https:\/\/www.certitrek.com\/nlpa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.certitrek.com\/nlpa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.certitrek.com\/nlpa\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.certitrek.com\/nlpa\/wp-json\/wp\/v2\/comments?post=3004"}],"version-history":[{"count":3,"href":"https:\/\/www.certitrek.com\/nlpa\/wp-json\/wp\/v2\/posts\/3004\/revisions"}],"predecessor-version":[{"id":14009,"href":"https:\/\/www.certitrek.com\/nlpa\/wp-json\/wp\/v2\/posts\/3004\/revisions\/14009"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.certitrek.com\/nlpa\/wp-json\/wp\/v2\/media\/4119"}],"wp:attachment":[{"href":"https:\/\/www.certitrek.com\/nlpa\/wp-json\/wp\/v2\/media?parent=3004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.certitrek.com\/nlpa\/wp-json\/wp\/v2\/categories?post=3004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.certitrek.com\/nlpa\/wp-json\/wp\/v2\/tags?post=3004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}