Procurement: More Than Just Saving Money

I’m back after a six-month hiatus to dive deep into the core functions of procurement. It’s been a while, but the questions keep coming in: “What does procurement actually do?” and “Is it a good career path?”

Let’s get back to basics. Procurement plays a crucial role in any organization by:

  1. Saving Money: We negotiate contracts, manage supplier relationships, and implement strategies to reduce costs.
  2. Managing Risk: We identify and mitigate potential risks, ensure continuity of supply, and protect our organizations from disruptions.

After 15 years in the field, I can confidently say that procurement offers a rewarding and challenging career path with plenty of opportunities for growth and development.

In this video, I’ll discuss the key responsibilities of a procurement professional, explore common misconceptions, and share my insights on why I love this field. So, whether you’re a seasoned pro or just starting your procurement journey, join me as we redefine what it means to create value and manage risk.

Why Is the RFP Important in Procurement?

The Request for Proposal (RFP) is one of, if not THE most important tool in a procurement professional’s toolbox.

In this high inflation period which is driving up costs, the RFP is the best way to test market pricing and understand price points.

This video discusses why it is so critical to leverage and the issues customers and suppliers have with organizing a proper RFP.

Secrets to Mastering the Art of Negotiation

Thumbnail, man in suit, yellow background, looking to negotiate.

Negotiation is a major element of the procurement function, but people treat it as a battle.

Someone doesn’t have to lose to have a successful negotiation. Instead of viewing it as a fight, treat it as a dance… and sometimes you are dancing with multiple people.

As you coordinate with your business customers, your legal team, the other company’s sales team and lawyers – this dance can get complicated, so learn how to better prepare in this video.

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