World Environment Center and University of St. Gallen Launch Leadership Evaluation of “The Evolving Role of the Chief Procurement Officer”

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World Environment Center and University of St. Gallen Launch Leadership Evaluation of “The Evolving Role of the Chief Procurement Officer”

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Monday, July 27, 2015 - 12:45pm

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CONTENT: Press Release

July 27, 2015 /3BL Media/ - The World Environment Center (WEC), a global non-profit thought leadership organization, and the chair of logistics management of the University St. Gallen (Switzerland), a center for research and education in procurement and supply chain management, today announced their collaboration to conduct an evaluation of the leading procurement practices of global companies across many business sectors.

The purpose of this initiative is to: 1) assess the main objectives of sustainability strategy in procurement; 2) review incentives for procurement executives and managers on sustainability goals and commitments; 3) evaluate the application of sustainability criteria and operations across the supply chain; and 4) identify competencies and capabilities that will be needed in the future.

“This assessment marks yet another global action by the World Environment Center to understand how sustainability is being embedded in the critical functions of leading companies,” noted Dr. Terry F. Yosie, WEC’s President & CEO.  “The results will inform not only companies but also government, non-governmental organizations and universities as they develop next generation best practices.”

"Most products today are produced in multinational multi-tier value chains. Supplier and sub-supplier practices are crucial for the sustainability footprint and critical to reputation and brand credibility. To succeed in such an environment, strategy, structure, capabilities and incentives in the procurement function undergo fundamental changes. With this study we investigate these changes," said Dr. Joerg Hofstetter, Assistant Professor at University of St. Gallen and President of the International Forum on Sustainable Value Chains.

Chief procurement officers and other senior procurement executives representing chemical producers, consumer products companies, pharmaceutical manufacturers, and service and technology corporations will be individually interviewed for the project.  Results will be analyzed by the WEC-St. Gallen team to prepare a report that will be publicly distributed online and through conference presentations and professional publications.

Previous WEC thought leadership evaluations include: Sustainability and the CFO: Challenges, Opportunities and Next Practices (with the Corporate Eco Forum) April 2015; and Business Skills for a Changing World:  An Assessment of What Global Companies Need from Business Schools (with Net Impact) October 2011.

Funding for the chief procurement officer study is generously provided by the Ingersoll Rand Foundation and SC Johnson.

About WEC:  WEC is an independent, global non-profit, non-advocacy organization that advances sustainable development through the business strategies and practices of its member companies and in partnership with governments, multi-lateral organizations, non-governmental organizations, universities and other stakeholders. WEC’s mission is to promote business and societal value by advancing solutions to sustainable development-related challenges. 

About the University of St. Gallen:  The University of St. Gallen is a Swiss state-owned university established in 1898 with schools in management, finance, economics and political science, law, and humanities and social sciences, widely admired for its practice-oriented approach and integrative view in research and education. The Chair of Logistics Management is an international platform for research and education in procurement, supply chain management and logistics.

Keywords: Environment & Climate Change | Business & Trade | Innovation | Leadership | University of St. Gallen | World Environment Center | cpo | procurement | sustainability

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CONTENT: Press Release