The global recession is taking no prisoners. Neither industry, nor region, nor company-size has provided shelter from its impact. Within the enterprise, few business functions have been unaffected. Yet, as this business downturn continues, the Chief Procurement Officer's ("CPO") agenda and the CEO's agenda have started to converge. In fact, two-thirds of this study's participants believe that the economic downturn has positively impacted the role of the CPO within the enterprise. One thing is certain: the CPOs who successfully devise and execute smart strategies in these tough times will continue to rise.