What is a Chief Procurement Officer? Definition and meaning

Chief Procurement Officer

Definition: a Chief Procurement Officer is the most senior company executive responsible for all decisions related to the acquisition of raw materials, goods and services.
The CPO is in charge of managing all buying decisions for the firm. The CPO manages extensive research projects about an industry prior to making key procurement decisions. The CPO is responsible for managing relationships with key suppliers and for the entire purchasing portfolio of the firm, ranging from strategic items and co-creation to bottleneck items and vendor managed inventory to office supplies.
Typically he is managing a team or department of purchasing managers.

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