The notion of a "chief procurement officer" isn't new. The U.S. Department of Housing and Urban Development has had one since 1998, and the title can be found in any number of other government agencies and branches of the military. Private companies have embraced it as well, although the position hasn't enjoyed a solid footing in most C-suites for more than a decade or so. Maybe it was the success of companies like Apple, with its mastery of supply management, that convinced top executives of the need to elevate procurement to the highest levels of the organization.

Commodities are often given short shrift in discussions about supply-chain risk management. Dave Brown, vice president of supply chain and agricultural sales in North America for Ingredion Inc., helps to correct the oversight.

After working from 2007 to 2011 to transform its own supply chain, Celestica took what it learned to the market, offering managed supply chain services that complement its contract manufacturing business. Erwin Hermans, vice president of supply chain solutions, explains Celestica's strategy.