The 100 Day Plan: 5 Takeaways for CPOs

Throughout the years, CPOs have faced the same age-old challenge: do more and better with less. Yet in the age of AI, the problem has grown more acute than ever. The role of the CPO has expanded dramatically. At the same time, procurement teams are up against many hurdles that make it more difficult to meet ever-growing demands, such as limited data and insights, outdated systems, increased prices, supply chain disruptions, and demand uncertainty.

Enter: the 100 Day Plan.

Like the U.S. president’s first 100 days in office, a CPO’s first 100 days on the job are critical for effective change management and organizational transformation. In this article, we’ll discuss five things every CPO should know about the 100 Days plan, including how to execute the plan and help your team reach its full potential.

1. The Importance of a 100-Day Plan

Though procurement responsibilities and activities have grown exponentially over the years, technological advances haven’t been enough to make up the difference. Procurement headcount has slowed to a halt, with nearly 10% of all organizations expecting a decline in headcount over the next year and 73% anticipating a flat headcount.

Companies are realizing procurement is critical, but they’re not allocating the resources needed to perform high-value, strategic tasks. In fact, the time spent on high-value activities has hovered around 30% since 2021.

With this high-stakes state of affairs, the first 100 days as a CPO have become more critical than ever before. It’s the time to set the pace, establish your agenda, and create the positive momentum needed to lay the groundwork for long-term success. It’s like building the thrust of a rocket’s launch pad — a vital step to achieving velocity and reaching orbit.

2. Digital vs. AI Transformation

In today’s fast-paced, high-demand procurement industry, digital transformation isn’t enough. Though it centralizes digital collaboration, success relies on user adoption. It doesn’t allow procurement teams to scale at the pace and volume required for today’s organizations to thrive (or survive).

Thankfully, AI transformation can step in where traditional procurement solutions fall short, revolutionizing sourcing for CPOs. This new technology dramatically reduces the need for repetitive, time-consuming tasks and amplifies value, recommending next steps and offering data-backed insights. Success is measured based on impact and faster cycles rather than on user adoption. In short, it maximizes efficiency, increases productivity, and (finally) allows CPOs to truly do more with less.

3. What kind of CPO are you?

Procurement leaders are masters of relationships with third-party vendors and suppliers. They know when to adapt their approach, when to change their focus, and when to bring relevant skills and experience to the table.

Likewise, CPOs can and should leverage this talent to foster trust among internal staff, too.

Here’s where the first step of the 100 Day Plan begins: by identifying your CPO persona. Maybe you’re an early-stage CPO, eager to build a procurement team from scratch. Or maybe you’re an established CPO, ready to assess your team, identify gaps in the data, and deliver quick wins to your executive team. Finally, you may be a transformational CPO, with the skills to harness high performers and align the executive team on procurement priorities.

Curious to learn what your CPO persona is? Fill out the questionnaire starting on page 5 in our latest eBook to understand where you are in your CPO journey.

As you come to understand the type of CPO you are, you can leverage your strengths to earn the trust of your team and build the momentum for launch. No matter your persona, you can always find ways to simplify steps, consolidate roles, and create diverse experiences to improve your first 100 days.

4. How to Build a Team of Enthusiastic Supporters

CPOs face many challenges day to day, but ultimately, success depends on building a solid team of enthusiastic supporters, endorsers, and advocates. This means aligning with key stakeholders like the CEO and CFO, but it also means getting friendly with department heads and your own procurement team members.

So how can you win their trust and gain enthusiastic support? By listening.

Listening sessions are vital to helping you understand and prioritize the top concerns of the organization. They help you answer the most captivating stakeholder question of “What’s in it for me?” Once you can answer this question for each stakeholder, you’re sure to gain support and build the momentum needed for success.

Although in-person listening sessions are ideal, you can leverage hybrid or remote settings to build relationships and get valuable feedback. These sessions will help increase transparency, showcase procurement’s value, and inspire your team.

5. Embracing Failure and Uncertainty

Once you gain support from your team, you’re off to the races. But as you begin making plans, you’re bound to stir the pot. Your plans may fail, and dissenters may surface. The urge to adjust plans and “plan to please” may be strong, but it’s important to resist. This flawed approach can lead to serious practical and logistical challenges, making future decision-making increasingly difficult.

Instead, remember that a fear of failure leads to risk aversion, and risk-taking is essential for learning and success. You simply must become comfortable with failure and dissent to create a culture where your team feels safe to take risks.

When people are unhappy with your decisions, it’s time to embrace a Jeff Bezos-inspired tactic: Disagree and Commit. Embraced by Amazon in its early days, Disagree and Commit requires team members to acknowledge their differences, let go of personal grievances, and agree to disagree. It forces the team to embrace the shared plan, even when there’s no guarantee of success.

Thriving in the First 100 Days

CPOs have a tough gig — one that requires outstanding leadership skills and the ability to navigate complex issues. Yet it’s this difficulty that often attracts people uniquely equipped to tackle challenges. The best CPOs know how to take on challenges at scale and demonstrate their immense value to the company. They thrive in the face of uncertainty and transform obstacles into opportunities for growth.

The 100 Day Plan helps CPOs face these challenges head-on and connect authentically with their team. It gives them a flexible game plan that embraces the chance of failure and focuses on creating value (rather than sweating the small stuff).

Whether you’re a brand-new CPO or a seasoned professional, the First 100 Days are critical. So take your wins, lay the groundwork for the future, and get ready for take-off. 

Want to learn more about The 100 Day Plan for CPOs? Check out our latest eBook for the full game plan and chat with our experts to learn how AI-powered Arkestro can help support you in your plan.