Making Friends: How CPOs and CFOs Can Come Together in Harmony
Categories: Finance, Learning / Research, Procurement Research, Procurement Strategy & Planning | Tags: L2, Process and Best Practice
Connecting individuals' roles with the planets of the solar system is nothing new (see: Men are from Mars and Women are from Venus) but we’re taking it one step further with this new, downloadable research paper -- Procurement is from Mars and Finance is from Jupiter: How to Align Planets.
Chief Research Officer Pierre Mitchell examines how the CPO and CFO can come together for the better of both procurement and finance. Here’s an excerpt: “Procurement likes early pay discounts. AP just wants to pay the bills on time (even if it bypasses procurement to set up vendors so it hits its cycle time numbers). Procurement must work with finance to reduce these trade-offs rather than fight over them (e.g., using supply chain finance to reduce the cost-cash trade-off)! We outlined P&G’s recent efforts here and also have written extensively about supply chain finance in other research posts.”
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