Whatever size business you have, you should consider strategic procurement. The benefits are vast and apply to businesses large and small in almost every industry.
What are the benefits of strategic procurement?
The bottom line is that if you have procurement staff with a strategic vision, they are much more likely to make significant savings than those who do not. In general, procurement staff are skilled in sourcing goods and services, negotiating prices and contracts and ensuring timely delivery of products and services but none of this necessarily requires a strategic outlook. A procurement expert who builds strategic relationships and is forward thinking will be more successful overall.
What makes a procurement expert?
- To enable strategic procurement, an expert will have good networks and great people skills to build relationships and influence people.
- They will fully understand the processes and products of your business.
- They will be goal oriented, seeking to achieve results and meet deadlines.
- They should have the skills to foresee change and adapt accordingly using creative solutions.
- They must respect compliance to procedures and influence others in the business to do the same.
Unfortunately, only a small proportion of people working in procurement possess all of these skills, so unless you are lucky enough to have recruited one of the 10% all-rounders, you should consider ways of filling the skills gap. The best way to approach this is by creating a multi skilled team who can work together using complementary skills. This will improve the performance of the team and enhance your opportunity for successful strategic procurement.
If you’re ready to take the next step in exploring the potential for your business? Then contact me and we can talk through your strategy.
Paul Strachan M. 07793 447961 T. 01307 460667 E. firstname.lastname@example.org