Answered by 2 members
Answered by 1 member
Answered by 1 member
Answered by 1 member
Do You Have These
Types of Procurement Expertise?
The scope of procurement work has grown to include much
more than it did in past. There are
five areas of expertise that employers seek in their
procurement team members.
1. Classic Procurement Expertise.
Classic procurement
expertise means being able to negotiate fantastic deals
from suppliers. To analyze spend to identify exactly
where savings opportunities are. To collaborate with
suppliers to take out cost, improve performance, and
gain a competitive advantage.
2. Category Expertise.
Category expertise refers to
thoroughly understanding the nuances of the products
and services you are responsible for buying. Knowing
what drives cost. Knowing what may constrain supplier
capacity. Knowing the technical details necessary to
ensure the optimum quality of delivered goods and
performed services.
3. Interpersonal Expertise.
Today's true procurement
professionals are not the type of people that sit at a
desk and stare at a computer screen the entire day.
They inspire internal customers to comply with
procurement initiatives. They persuade senior
management to give support to procurement strategies
and investments. They motivate cross-functional teams
to succeed at their projects.
4. Industry Expertise.
Industry expertise means knowing
how other similar organizations operate. What the
business cycle is in that industry. What differentiates
one competitor from another. And what possibilities
there are beyond doing things the way the organization
has always done them.
5. Organization Expertise. To
achieve maximum success in
the team environment in business today, procurement
professionals need to be familiar with the intricacies
of their own organizations. Who are the people whose
approval needs to be won? What processes must be
followed to avoid bureaucratic delays? And what
cultural constraints must be observed so that others
don't try to block the path to success?
Answered by 1 member
The primary objectives of companies post-pandemic are 'safe business operations',
'uninterrupted business operations' and 'integrated manufacturing operations'.
These three pillars of post-pandemic business are leading
companies to take up multiple actions to redesign the manufacturing value chain
in its entirety.
Some of the changes are obvious: Companies are going to get
their back-end chains closer to them, geographically. However, in order to
still keep cost and supply advantages, some parts of the back-end chain will
continue to remain in low-cost but efficient geographies.
Thus, there will be broadly two back-end chains, one, which
guarantees supplies during the 'Disruption Majeure' conditions, and the second
holds the cost during the normal, day to day business dealings.
Supply Chain Finance (SCF) then becomes a handy tool to
support this much needed cost efficiency.
Be the first to answer.
Category Management:
ONE Process – TWO Applications – ONE Result
The phrase - Category Management – is extensively used by two
extreme functions in an organisation viz. Procurement as well as Marketing,
especially CPG marketing.
It is interesting to note that Procurement applies category
management to spend the allocated money wisely and support growth ambitions of
Marketing.
Whereas,
Marketing deploys category management for growing the
business and earns cash for Procurement to spend wisely again.
And the circle continues…..endlessly and relentlessly.
Be the first to answer.
Be the first to answer.
Apart from longer leadtime what should be norm crategory for RM procurment .
Be the first to answer.
