What makes a great procurement specialist?

Forget the title, it is just a label. What is important is that for any person to lead a procurement organization, he or she requires a basketful of skills and abilities.  Undoubtedly, technical skills and business acumen are the key traits that a successful procurement specialist should possess.

The global management and business landscape are changing at an incredible pace. With the ever-increasing demand for the procurement of talent that suits the continuously changing needs and is ready to stand sturdy in the competitive environment, the demand for procurement specialists also increases.

A successful procurement specialist possesses multiple traits that can be used in collaboration for the best outcome. These basic traits are the ones that differentiate a mediocre from a highly successful and efficient leader.

Procurement teams now need to view compliance as a more holistic focus, managing total risk exposure, risk mitigation investments, and risk transfer pricing.

If you’re not naturally good at talking with people, or would consider yourself shy or introverted, that’s not to say you can’t be successful as a procurement specialist. You’ll just have to make an effort to strengthen those skills over time.

In procurement, one of the most important goals is to save money while still securing the supply you need and getting benefits. That means you need to stay curious about how the company is spending money and what the market is doing specifically in your industry, in general, both locally and globally. If you love negotiating, and find that it comes naturally to you, that makes a job in procurement much easier. Negotiation is a critical part of contracting products and services. Since that is the main focus of procurement, you can expect to spend a decent amount of your time working in negotiations with a supplier.

Anyone working in business, especially in procurement and especially in management, needs to be ethical in all of their dealings. This means you must clearly and objectively inform all stages of the quotation process, supplier expectations, and the rules ahead of time. Always provide feedback and avoid changing the rules during negotiations.

As a procurement specialist, you need to have the ability to think laterally. The concept of lateral thinking means you have the creativity to use different approaches and strategies to come up with ideas and solutions, including looking at situations from different perspectives.

Contracting, procurement, sourcing, and the supply chain are about generating a winning strategy–and tactics. Being a good tactician is the foundation to finding the innovative, creative solutions your business needs.

All the deals that are generated need to be tracked, filed and revised all the time. Audits come all the time, and only commitment to good processes and procedures can get you the needed information.

What more skills, qualities and traits you think of a procurement specialist? do let me know.