6 Surprising Things You Didn’t Know About Procurement
The procurement and supply management field covers an enormous range of responsibilities, including the obtaining and financing of products, analyzing market trends, negotiating contracts with suppliers, and supervising logistics.
If you’re interested in this field, you may have some questions about what it’s like to be involved in procurement and supply management, or even whether it’s the right career choice for you at all.
Here are six surprising things you didn’t know about procurement.
1. How important is procurement today?
According to a study from PWC, procurement and supply management skills have ranked as one of the top three skills in-demand among employers for years.
This is no surprise given procurement’s critical role within businesses. From negotiating bulk discounts with suppliers to maintaining cost control to overseeing expenditures, every company relies on skilled procurement professionals.
So if you’re looking for an in-demand career with high potential earnings, consider learning how to start a career in procurement! Take a diploma on procurement course to get started with this career in a better way.
2. Who will benefit from this course?
Business owners, Purchasing Agents, Supply Chain Managers, and more. This course is also suitable for anyone with an interest in supply chain management.
Learn how to make smarter purchases, save money, and streamline your procurement processes with a comprehensive understanding of purchasing from beginning to end.
Plus you’ll be eligible for exams that will allow you to earn internationally recognized certifications.
While following our online learning path, you’ll:
- Discover where purchase orders fit into a business strategy.
- Learn about financing options available when working with suppliers.
- Explore what it takes to make an effective bid as part of your supplier selection process.
- Understand contract negotiation and auditing best practices, which can improve efficiency in any business model.
3. What are my career options?
With a degree in procurement and supply management, you’ll have lots of options after graduation.
It’s not just about buying office supplies; buyers make decisions that affect organizations across industries, such as:
where to buy products and services – domestic or overseas? How much to spend? When to buy? How long should a contract be signed for? What are my career options?
With a degree in procurement and supply management, you’ll have lots of options after graduation.
4. Is there a future for Procurement Officers?
One of the most obvious questions that a student will ask when deciding whether or not to pursue a career in procurement is if there is a future for those with degrees in procurement and supply management.
With job growth at a measly 5% over 10 years, compared to 20% growth over 10 years for careers overall, it’s clear that career opportunities are limited.
There will always be a need for people to fill these positions, but perhaps they won’t be as easy to come by as you might expect.
Would you like fries with that? : Unless you plan on working your way up from within an established organization, getting your foot in the door is likely all about cold-calling.
There’s no guarantee who will respond best, so keep calling until someone does!
5. What skills do I need to have?
As a supply management professional, you’ll need strong writing and communication skills. Your job involves professionally communicating with clients and suppliers.
When reviewing their service, you’ll have to put together clear correspondence that critiques aspects of their work without offending them or damaging your relationship.
Customer service is an essential part of supply management; even if you don’t deal directly with consumers, having patience for dealing with people at all levels is important.
Flexibility is also key—many companies have fluctuating needs, meaning you may have to review plans on short notice.
If you decide supply management isn’t for you after hearing about these duties, just remember that many professionals enter into it from other fields—this career has options outside of retail or manufacturing.
6. Do I need experience?
Many careers in procurement and supply management require little or no previous experience.
To be a purchasing manager, you’ll usually need to have a college degree in business or supply management and have obtained relevant work experience—such as an internship—in other parts of your organization.
Students who major in these subjects typically obtain entry-level jobs with basic responsibilities, such as processing requisitions for office supplies or preparing purchase orders.
After gaining some experience, you can look for managerial jobs within your company or in another organization.
Conclusion
If you want to be a successful procurement professional, you need to know more than just how to read spreadsheets and write tender bids.
You’ll also need to develop an appreciation for (and influence on) business strategy.
After all, procuring things for your company isn’t just about saving money—it’s about maximizing efficiency.