Tuesday, 12 November 2013

Wanted: Procurement Skills and Talent

Authored by Mickey North Rizza

Much has been written about the Supply Chain talent shortage, but not the various aspects of Supply Chain like procurement, sourcing and supplier relationship management. As these areas continue to evolve to more “value contribution” organizations, so too must the people skills evolve. Below are some thoughts on the skills required to move the Procurement organization to a valued business.

1. Analysis of a multitude of data is required to make the most informed sourcing and supplier relationship decisions. Optimization technology will assist to shorten the supplier selection time, reduce risk and secure margins, but analytical skills will be needed to look beyond and strategize the future.
 
2. Collaborative practices and work-styles that bring people together vs. controlled only approaches. Innovation is born with collaboration, so this style will lead to more invention and better working environments
 
3. Supplier relationship management skills are a must. You can’t have great products without great suppliers focused on delivering value. It isn’t just about the transaction and quickly picking a supplier, it is about a focus on the value generated from the supplier to the product and ultimately into both companies’ revenue stream and profitability.

4. Financial acumen or the ability to look at the whole financial picture with a variety of factors and constraints, harnessed into the right decision that continues to deliver to the top and bottom lines for sustained growth.

5. Leaders focused on the business strategic plan with an integrated business plan that delivers the numbers required to make the business success.

 

3 comments:

  1. zhumayun@yahoo.com14 November 2013 at 14:26

    The blog has real facts. Once procurement considered to be mere a function in operational management set up of an organization has now become a core profession in processes of a supply chain. The procurement profession has got to perform multidimensional core activities as stated in the blog to look for total cost of ownership instead of performing just tactical procurement activities. The procurement professionals need to develop skills and talent. The difference can be felt only those who have been performing the procurement activities for plus 25 years. Humayun Zafar (zhumayun@yahoo.com)

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  2. It is about category managment that includes Category planning, good unerstnding of the business requirement and the market, contracting startegy , evaluationa nd selection them contract award and post award contract strategy. aligned to these sourcing steps , full Due Diligence exrecise has to conducted taking into consideration risks identification, Assesment, Mitigations. Finally in the post award contract phase, it is all about risks mgt , and startegic contractors relationships and performance management.

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  3. THIS IS QUITE VALUABLE AND FULL OF INSIGHT

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