New CPOs: How to survive and thrive in the first 100 days and beyond
In your new role as CPO, you will want to make an immediate impact. To do this, along with ensuring you leave a lasting legacy in your new role, it is essential to develop a well-considered strategy.
Starting in your new role as CPO, you have a great opportunity to make an immediate impact across the organization. A strong start will establish your credibility with key stakeholders and send the right message to your functional staff and key suppliers – setting the foundations for increasing the value procurement can add across your new business. In the early weeks, the old adage of “two ears one mouth” is a good one to live by.
Investing time to engage with the key business stakeholders, key suppliers, your staff and getting out into the front-line operations of your new business – asking lots of open questions and absorbing all the feedback is key.
It is important early on to establish the short-term priorities of the business you’re coming into, and the expectations of the senior management. You probably won’t have the luxury of spending three months defining vision and transformation plan, as there will be a few burning issues that need resolving. This said, it is vital to your long-term success to define a clear strategy and transformation plan which can guide your improvement activities, and resonate with your stakeholders, especially if you are seeking additional funding for the function – you will need a good business case.
This guide aims to provide a framework for those crucial first three months in your new role.