The last few years have been highly challenging for the CPOs (Chief Procurement Officers) across sectors and geographies. An erstwhile linear job has taken on newer dimensions, and CPOs have been called upon not only to brave financial and economic disruptions but also to steer their company safely through such tumultuous times.  

At the very core, the procurement function in a manufacturing company is assessed on the basis of Annual Cost savings, Speed to market/Supplier delivery, Operational efficiency, Internal stakeholder management, Quality compliance and Risk Mitigation.  

Here are a few key tenets that can help CPOs achieve these while balancing resources and cost constraints in 2023. 

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