13 Procurement Tips To Advance Your Career in 2021

When it comes to procurement tips, you know that your team here in Procurement Tactics has plenty to share. Therefore, it’s only right for you to know the only one important tip that you can follow if you truly want to become a procurement master. 

And that is to check out our Negotiation Gamechanger certificate program. The end.

Just kidding.

For this article, you are going to learn the best procurement tips. You can use these to get an edge over the competition. Once you’re done reading, you’ll be one step closer to becoming the best procurement manager!

What are the Best Procurement Tips?

When it comes to best procurement tips, there is a lot of advice out there from procurement experts and negotiation masters. The only way to filter out the correct advice from the wrong one though is through experience. And with research too, of course.

But that would take time, you say. And time might be something that you don’t have, especially if you’re looking to advance your career during this time of economic anxiety. Maybe you’re looking to advance your career in procurement for a better salary rate. 

In that case, you forget that the Internet is your online library for free information; all you have to do is check and run a search online for the best procurement tips and you’ll have all the answers you need!

So without further ado, here are 13 of the best procurement tips that you can use to advance your career.

1: Take Ownership

From the simple procurement manager to the Chief Procurement Officer, they are expected to take ownership of their respective budget. It is pretty much one of their core responsibilities. By taking accountability, the procurement manager makes sure that all strategic principles in the procurement process are followed and that each team member in the procurement department is given the right tasks.

2: Be Analytical with your Cost Structure

For the basic procurement manager, he/she needs to look at all possibilities with the procurement process. The expert procurement manager, however, makes sure that he/she analyzes the fine details of the procurement process to reach the best possible outcome for the procurement. Having an analytical eye is key to develop and implement the best KPIs and metrics for your next procurement process.

3: Focus yourself on the Bigger Picture

An expert procurement manager is someone who always looks at the bigger picture of all things. From the sourcing of suppliers until the procurement process itself, he/she doesn’t stop analyzing for any outcomes that come right after the procurement process. By being able to look at the better picture, the procurement manager can work with budget holders toward getting the global outcome that they want for their company.

4: Understand the real impact of Procurement success

Being able to understand how procurement impacts success is crucial to becoming a professional procurement manager. If you have this skill, you can answer critical questions that will most likely affect the outcome of the procurement process. You have to realize that every day, procurement managers have to think about how each procurement process is going to affect their company as a whole.

5: Stop Doing it on Your Own

For the expert procurement manager, teamwork is the key. Stop doing everything on your own and focus your energy on assigning your procurement team tasks that fit their role. Just barging in on your own during the procurement process is not just going to be detrimental to your performance, but it can also cause problems for the company as well. 

Nowadays, companies with the best procurement teams are now outsourcing most of the non-strategic and more traditional work to give yourself free time to focus on high-value strategic decisions. 

This is one piece of advice from our Negotiation Gamechanger certificate program, so make sure to check it out for more juicy tips!

6: Learn from the Masters

It is always a good idea to ask for the advice of procurement experts in your own company. If you know someone who did a very good job with the procurement process, you can check out how he/she did it and maybe even collaborate with him on one procurement process so you can learn how he/she does things. From there, you can start creating your ideas on how to make the procurement process more efficient.

Editor's note:

The Negotiation Game Changer Certificate Program teaches you:

  • the skills needed to drive better, fact-based decisions that ultimately benefit both organizations and its employees.
  • a comprehensive analytics skill set that will enable you to achieve deals with results you have been dreaming of.

7: Undergo Training and Seminars

If you don’t know anyone better than you when it comes to procurement, then it’s time to seek outside help. You can approach a procurement expert and ask him/her for tips or you can also join seminars and workshops on how to become a better procurement manager. Our Negotiation Game Changer program is one such program where we bring out your best potential as a procurement manager. You can check our online course here and even get an idea of how our course is going to improve the way you work and look at the procurement process overall.

8: Develop a Digital Vision

Since it’s 2021, it’s about time for you to start developing a digital vision of your procurement process. It’s also time for you to stop relying on paper-based and traditional procurement tactics and consider using automated programs to help you in refining purchase orders, checking suppliers and vendors, and even renewing and canceling contracts.

There is a lot of automated procurement software out there that it’s no longer a funny joke for businesses to keep pushing for the old traditional ways of procuring supplies.

9: Understand ecosystem management

A true procurement manager can build and understand a strong procurement ecosystem. This ecosystem can serve every branch that is involved in the procurement; from the third-party suppliers who are part of the outsourcing teams that work on the non-essential workflow together with the in-house team that will work on critical data and workload.

10: Creating a benchmark

Not each procurement process will be the same. There will always come a time when each process will raise its standards and it’s your job as the procurement manager to make sure that your standards for each procurement process have a benchmark. Once the benchmark is set, it is also your responsibility to keep that benchmark in check and that everyone is following it to the letter. Carry out outgoing benchmarking to understand where you, the procurement manager, rank and maximize the potential of your procurement department.

11: Robots are your Friends

Are we talking about real robots here? No, not really. We are talking about AI; the software that is in charge of making sure that your automated procurement software is working properly and that it carries out its functions without problems. Don’t believe in the notion that automating processes is bad for business; what’s bad for business are delayed invoices, badly made contracts, and suppliers that are not worth investing in

12: Adapting to Change

Remember, change is not something to be feared. The procurement process will keep changing and evolving, so it’s only natural to adapt your procurement processes according to any changes that might happen with your vendors, suppliers, or the data you collect. Besides, true procurement mastery requires you, the procurement manager, to fundamentally adapt your procurement activity and to mix that successfully with your company’s growth goals.

13: Do Your Research

Last but not least, don’t forget to do your research. These tips are very helpful but there are a lot of other tips and tricks that you can do to improve how you can handle the procurement process. For one, a professional procurement manager is able to negotiate properly. You might want to improve how you handle a negotiation too if you want to become an even better procurement manager in the future!

FAQ

What are procurement tips?

Procurement tips are advice given to procurement managers for improving their own procurement process.

What are the best procurement tips?

The best procurement tips involve gathering data for market and product research, using contacts to source for best potential suppliers, and developing the best negotiation techniques to get the best procurement deals.

Do you want more Procurement Tips?

Your Procurement Tactics team is more than welcome to help you become an even better procurement manager. Check out our Negotiation Gamechanger course!

Don’t forget to check out our website too at www.procurementtactics.com for more information!

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