I'm new to procurement, what are your best tips?
Hey there, I've been working in procurement for 2 months now and would be really keen to know what your best tips and comments are?
Remember you are custodian of someone else’s money, you get to deal with owners / senior execs within your supply chain and you have the ability to influence and add real value to your business.
Procurement often accounts for >60% of business turnover meaning you can I greatly contribute to its profitability by minimising spend.
This does not just mean using the blunt instrument of just screwing down supplier prices, but opens up the opportunity to work collaboratively to achieve a better end result (be it lower cost, improved quality, safety risk mitigation, better schedule adherence, more innovation, joint initiative development, new products or whatever).
Procurement is a much undertapped capability for adding real business advantage so grasp it, develop it and communicate it !!
Work for an employer who will provide you the opportunity to learn by doing, while guided by experts or overseen by a mentor. But in parallel take some academic learning; CIPS or specific training across key topics like contract management, negotiation, etc. Say yes to opportunities and find out what you are good at and what others value.
Hi Eve, I recommend you go to our "Training & Learning" section (https://www.procurious.com/procurement-classes/all?f=1) - its got a great range of training videos, webinars and podcasts that touches on a various aspects of procurement from leaders in the profession.
I would also recommend joining Procurement Toolkit Group (under "groups" section) - with plenty of helpful tools & templates to support your workflow.
Maybe this answer is a bit of cheat, but it's especially important to identify a mentor early. Find someone within your organization who'll commit to regular check-ins where they can nurture your professional development and pass on what they've learned. Beyond offering tips and best practices, they'll empower you to make strategic career decisions and operate with a new level of confidence.
Hello Eve - there are some very apt comments here but the best advise i ever received was 'Saying No is not easy but it is the best place to start from. You can only improve.' It took me many years to get a handle on this and how to use it. It's about you making sure procurement becomes popular to other business units, making them WANT to contact your team and inclusion into the companies business operations. It is also about not being afraid to stand your ground and say - 'NO' when everyone else is nodding and saying - 'Yes'. Good Luck.