How To Be A Better Purchasing Professional
PurchTips edition #189
By Charles Dominick, SPSM, SPSM2, SPSM3
Can You Become A Better Purchasing Professional?
A member of the SPSM Group on LinkedIn recently posed to the group a question about how one can become a better purchasing professional. This may be a question on your mind as well, so I will share my response in this edition of PurchTips.
Becoming a better purchasing professional is a seven-step process in my eyes. Those seven steps, which can be adapted to your specific situation, are:
- Define the criteria for being a good purchasing professional. Is it cost savings? Continuity of supply? Innovation? All of these and more?
- Determine metrics that support the criteria. For example, for continuity of supply, you may select "Percentage of on-time delivery."
- For each metric, determine the value that would separate "good" performance from "average" or "mediocre" performance in your particular situation. For example, for actual cost savings captured, is it $10,000 per year? $100,000 per year? $1,000,000 per year?
- Establish a baseline of your current performance. Now that you know the line that separates good performance from mediocre performance, measure your current performance to determine whether you meet, exceed, or fall short of that standard.
- Analyze what you do for improvement opportunities. Identify changes that you can make that will help you improve your numbers. If you already exceed the standard, aim even higher!
- Improve your performance. Now that you've identified changes you can make, make them!
- Hold yourself accountable. Put in place methods of ensuring that you do not lose focus. This can come in the form of charts that you hang in your office, promises to management, self-reward systems, or even hiring a personal coach. It's easy to lose momentum if you don't have some tangible way of maintaining your focus.
Do You Want a More Rewarding Procurement Career?
Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Well, guess what? Nothing will change unless you take action towards becoming a world-class procurement professional.
Earning your SPSM® Certification is the action to take if you want to bring the most modern procurement practices into your organization and achieve your career potential. Download the SPSM® Certification Guide today to learn how to get started on your journey to a more rewarding procurement career!
Need Better Performance From Your Procurement Team?
Are you a procurement leader whose team isn't achieving the results you know are possible? Maybe it's not enough cost savings. Or frustrating performance from the supply base. Or dissatisfied internal customers.
You need a performance improvement plan that's easy to implement and quick to produce results. The NLPA can help.
Download our whitepaper "The Procurement Leader's Guide To A More Successful Team." You'll learn the 7 steps for transforming your staff into a results-producing, world-class procurement team.
Are You Getting The Most Out of Your NLPA Membership?
Members of the NLPA get more than just articles like this by email. As a member, you also get access to:
- The Procurement Training & Certification Starter Kit
- The latest Purchasing & Supply Management Salaries Report
- Leading-Edge Supply Management™ magazine
- Members-only webinars 10x per year
- And more!
If you haven't been taking advantage of these benefits, why not log in and start now?
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Other Editions of PurchTips:
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