Top quality procurement strategies

As the procurement industry is proving increasingly popular as a career choice, here are some top procurement strategies to consider

Over the past two years, supply chain delays have made news across the world.

This has brought the importance of the supply chain and procurement industries to the minds of those who receive the supplied goods.

In the new normal, the world is ramping up its efficiency here with public support - and more people are joining procurement as a result. 

For those interested in joining the procurement industry, here are some top quality procurement strategies to amplify.

Keeping on top of new technologies 

The procurement industry is vast and to keep customers satisfied, you need to pay attention to any new technologies that could make your job quicker and less expensive to complete. It can be difficult to be aware of everything going on and helping employees get on board with any changes, but it is necessary. 

Know your scopes

A popular trio in ESG, there are three Scopes, 1, 2 and 3, which concern the emissions created by an industry. 

Scope 1 concerns, for example, emissions created directly within a company’s facilities.

Scope 2 covers purchased electricity for the buildings in question, as well as employee commutes. 

Scope 3 is where most emissions occur: the supply chain, from transportation and distribution to investments. 

Procurement teams need to be aware of their businesses Scope 3 emissions - which are not proving popular with customers or stakeholders. 

Engagements with the team

As in every industry, communication between teams is key. Soft skills such as informative written communication, listening skills, public speaking, a sense of humour and the ability to capture a room’s attention will all support a Procurement team. 

Potential suppliers must be screened thoroughly and contracts discussed with the heads of a business and stakeholders. 

In addition, Procurement teams must update financial teams with what is going on, problems and of course, new tech ideas which could be implemented.

Transforming with digital tools

What starts out as a headache grows into an everyday tool you can’t work without. 

It’s a struggle, but digital transformation is nearly always worth it. Once implemented and underway, digital transformation can:

  • Create greater procurement return on investment
  • Reduce associated costs 
  • Create a happier team

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