4 Vital Skills to Look for While Building a Procurement Team

PROCUREMENT FREELANCERS

BUILDING A PROCUREMENT TEAM 4 Vital Skills to Look For

INTRODUCTION

As procurement teams shift from being a strategic function within the supply chain to a tactical function in the accounting division, the skills needed for procurement top performers are changing as well.

Without a talented team, your organization will not succeed in reaching its procurement goals.

Data Analysis and Synthesis

Flexibility

Relationship Management

PROCUREMENT FREELANCERS | 2020

SO, WHAT SKILLS DOES IT TAKE TO ACHIEVE RESULTS IN TODAY’S PROCUREMENT ORGANIZATIONS?

Project Management

DATA ANALYSIS AND SYNTHESIS

In the appropriate hands, data is an extremely powerful and invaluable tool to make crucial business decisions.

On the flip side, data can be meaningless, when used incorrectly, or if used inappropriately, can even damage an organization.

Procurement professionals are needed to analyze massive volumes of data, including, internal historical procurement and category market data. From this, they are needed to be a strategic advisor and assist the business in forming negotiation plans, category strategies, and pricing models.

Modern procurement, even quality control experts, can analyze and synthesize huge and raw volumes of data to draw meaningful conclusions from them.

Procurement professionals’ roles have changed from that of a transactional resource handling just Buying Orders to that resembling a flexible Project Manager, Data Engineer, Financial Analyst, and much more.

These professionals should be fluid in their role and accept new challenges. The ideal prospect should be able to switch gears between looking at the big picture and being detail-oriented to enhance results.

Business should keep this in mind while hiring procurement subcontractors and other related people. A strong procurement team will always yield better results in the future.

FLEXIBILITY

Procurement’s role in organizations has considerably evolved in the last few years.

These are the days of an immensely visible procurement team developed to serve its organization.

Such teams have become an essential part of the business’s internal service chain, managing close connections with every organization unit.

While managing a plethora of complex relationships, these professionals are turning into skilled relationship managers, developing their communication skills, keeping a service mindset at the forefront.

RELATIONSHIP MANAGEMENT

PROJECT MANAGEMENT

A modern procurement specialist is different from the usual project manager.

They take charge of a variety of impactful projects at one time.

Stakeholders most often include executives, and they are different from subject matter experts close to the product or service being procured.

As procurement organizations witness a change from being tactical to strategic, every sourcing project must be treated as a complex project through the eyes of the project manager.

Effective project managers can coordinate schedules, lead projects, manage multiple stakeholders, drive long-lasting results, and also, hold people accountable.

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