Today, one of the biggest challenges for future leaders in Purchasing is the so-called Fourth Industrial Revolution or Industry 4.0. In this new scenario, changes happen very quickly and are often unpredictable.
For the Supply Chain, one of the biggest demands of the new era is the “goodbye” to old management and leadership models. Those who do not change will be left behind – and run the risk of suffering irreparable losses.
The department, which was previously seen only as a high-cost acquisition area for companies, has now become a leading player. And this is due, of course, to the skills acquired by visionary purchasing leaders and the intelligence of new technologies.
Now, innovations allow professionals to free themselves from inefficient operational processes and dedicate themselves to strategies to leverage the business of the entire company, through digital, integrated and intelligent solutions – such as those of Electronic Market.
Research highlights CPO priorities in the current context
A "global supply chain survey 2020” from the consultancy Deloitte shows that, given the uncertainties imposed by the pandemic, the search for risk management in the supply chain and cost reduction rose on the list of priorities for CPOs.
The interviewees also listed as relevant the acceleration of the digitalization of purchasing processes and the adoption of technological platforms to increase visibility and monitor risks.
According to the report, CPOs need to continually seek smarter ways to identify and respond to supply chain threats, reimagine sourcing strategies based on risk, and build more robust mitigation plans. To do this, they need to have an integrated digital infrastructure supported by accurate data and leverage these capabilities to improve supply chain planning and resilience.
Remote work has also emerged as a top consideration for CPOs in a post-pandemic world. We recently discussed the topic in the post “Operations Engagement: How to Lead Procurement Teams Remotely".
Check out 5 tips to be a leader of the future in B2B Purchasing
1. Invest in knowledge
Here on the blog, we have already talked about the importance of knowledge in organizations. We know that the Supply Chain is very dynamic. Therefore, for the leader of the future in B2B Purchasing, the search for learning is essential to facilitate innovation within organizations and, consequently, increase their competitive advantage.
In addition to being aware of the market and knowing the methodologies, such as Strategic Sourcing, the Purchasing leader of the future must also be a facilitator of learning and empower the teams around him. It is important to clarify that knowledge is a mix of several elements and that data and information are just some of them.
2. Prioritize information security
Security experts have been pointing out the exponential growth of cybercrime worldwide. In 2020 alone, Brazil recorded more than 8 billion attempted attacks. The huge amount of information in the B2B Purchasing area reinforces the need for a more robust protection strategy against current and future threats.
With the increase in the migration of activities to home offices, companies increasingly need to ensure reliable connectivity for all devices. In the new context, it is even more essential to promote a culture of cybersecurity and guide employees towards this value in all processes.
3. Don't fear technology
Technology is key to advancing many areas, isn't it? The 4.0 buyer leader must see technological solutions as an opportunity, not a threat. The use of resources has become essential to optimize teamwork, especially in the context of a crisis.
Many companies take advantage of times of great change to break down barriers and remodel their structures. One of the facts that proves this scenario is the increase in the number of hiring technology professionals. In 2020, the sector registered a 25% growth in job opportunities. Technology is the bet of the moment!
4. Know the generations
Generational diversity is extremely beneficial for the corporate environment, as it provides an exchange of experiences and access to different points of view. For best results, bringing together different generations should take into account not only age, but also their different knowledge, identities and lifestyles.
Let's take a look back at each of them. Baby Boomers were born after World War II, between 1946 and 1964. Generation X is the generation born between 1960 and 1980. Generation Y is from the period between 1980 and 1993 – the time when technological developments began. Those born between 1990 and 1995 belong to Generation Z – they are digital natives. The last, Generation Alpha, begins in 2010 – these are children who are unfamiliar with the analogue world.
5. Visualize the scenario
Knowing and studying the current scenario of the company, the market and suppliers is essential to follow the right path and add value to the business. With a comprehensive and attentive view, the supply area sees opportunities and offers disruptive changes to the chain, which can result in innovation, savings and growth not only for the area, but for the entire organization.
In the tips above, we have already realized that movement is necessary and often inevitable. The leader of the future in B2B Purchasing must start acting now. Do you have any other tips for being a great 4.0 leader? Write in the comments. 😉
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