The term ‘purchasing professional’ carries a lot of weight with successful companies. A purchasing professional is a crucial component of any procurement department, and with this blog, you’ll discover why. Most consider a purchasing professional to be concerned with price alone…But there’s more to their role than that. By the end of this blog, if you don’t have one, you’ll want to outsource one.
Any successful procurement consultancy would outline the central attributes of a purchasing professional as:
A large majority of businesses aim to cut costs without sacrificing profitability. Effective cost management is not only a crucial component in business management, but it also supports supply chain management.
A purchasing professional holds an elevated position within companies, partly due to their ability to choose suppliers. By choosing the right suppliers, a company can revolutionise its competitiveness, and purchasing professionals are an important part of that. Simply put, using suppliers that have the latest equipment, technology and processes can put your company on the map. To attain the best suppliers, they may utilise a competitive bidding process, involving tender documents. The main focus for bidders is achieving the best quality and price. Alongside this, a purchasing professional needs to ensure that suppliers are well managed. This can range from basic providers to equity partnerships.
A Purchasing Consultant has a great eye for innovation, and sometimes this can be in new markets. Previously untapped markets can be full of potential, with eager companies ready for growth and development. Ultimately, with such a global market, a purchasing professional must have the intuition to look abroad for supplier opportunities.
Corporate responsibility (also known as corporate social responsibility) is an important aspect of business management nowadays. It focuses on the accountability of companies for the impacts of their decisions on society and the environment. These need to be above and beyond their legal obligations. In the UK, corporate responsibility plays a part in social value and sustainable procurement. Alongside this, compliance focuses on adhering to contractual norms and procedures such as:
A competent compliance policy can aid a company in preventing other issues, such as corruption and rogue spending.
With effective management of both compliance and corporate responsibility, purchasing professionals ensure that the business acts responsibly on multiple levels.
Many organisations would benefit from outsourcing their procurement activities to a purchasing professional. In particular, it’s a great option for businesses that lack:
Perhaps you don’t have enough time to dedicate your attention to the procurement process. It’s understandable – running a business takes a lot of time and effort! However, if that’s the case, then you might benefit from working with a purchasing professional.
This is similar to our point above. Without a dedicated team, you’re unlikely to have enough resources to carry out your own procurement function. After all, your team will be focused on their day-to-day responsibilities. So, outsourcing your procurement function a purchasing professional could be the perfect solution for you.
Do you know enough about procurement to handle your spending processes in-house? The world of procurement can be incredibly complex. If you’re new to the process, you might not have enough knowledge for this. And that’s okay! Instead, you can outsource the process to a purchasing professional with years of procurement experience under their belt.
Finally, some businesses might lack confidence when it comes to procurement. This is especially the case for newer or smaller businesses with limited experience with the process. If you lack confidence, you could benefit from working with a purchasing professional. They live and breathe procurement, and have enough expertise to guide you through the process with ease!
So, now you’re all clued up when it comes to a purchasing professional’s role. You’re now aware that these people tend to be incredible negotiators, with strong skills in analysis, data and adaptability. In particular, they’re able to help organisations that lack time, resources, knowledge or confidence when it comes to the procurement process.
What if you’re still unsure about purchasing professionals and need more information? Fortunately, we have procurement professionals on hand to aid in all of your procurement enquiries…
At Hudson Procure, our procurement experts have nearly two decades of experience. No matter what kind of support you’re looking for, we can help.
With Procure Consult, we provide support with tender management and ad-hoc procurement consultancy. Our expert team will offer assistance at any stage, as and when required.
With Procure Health Check, we’ll conduct a full review of the strategic and operational procurement processes within your organisation. We’ll identify the areas that need improvement and help you drive greater value from the procurement process.
The purpose of Procure Analyse is to conduct a high-level analysis of your strategic purchasing activity. We’ll help you understand your current purchasing behaviour and highlight areas that can deliver greater value. Procure Analyse is offered as part of Procure Health Check or as a standalone service.
With Procure Outsourcing, we deliver a range of procurement solutions on an outsourced basis, completely bespoke to you. This can range from delivering multiple tender projects as a package to delivering the full procurement function of your organisation.
With Procure Post, you can share your tender on one or more of our 11 sector-specific portals. We’ll advertise your tender to our community of engaged suppliers, looking to deliver similar contracts. This way, you’ll increase your chances of finding the perfect supplier. The best part? Procure Post is completely free with no limitations on the quantity of tenders you can upload.
Get in touch for a consultation and find out how we can help your organisation drive greater value for money.
Check out our other blogs for further Procurement Insights:
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