What is procurement?
Procurement is responsible for up to 70% of an organization’s profits. It is the process of buying goods and services that allows a business to function properly and make a profit. Functions in this department will vary. A procumbent officer may source raw materials for an organization or manage suppliers and contracts.
Buyers are currently in high demand globally. This job is challenging and rewarding at the same time. There are several skills that are highly sought by a procurement manager and officers alike:
- Financial management skills
- Outstanding communication skills
- A sense of urgency
- Sound negotiating skills
- Leadership skills
- Sound decision-making skills
- Ability to work independently and as part of a team
- Good business sense
- Mathematical skills
A procurement recruiter is responsible for the sourcing, interviewing, and placement of key individuals who possess sound hard and soft skills to perform this function.
Procurement positions are available in various industries.
Functions of a procurement manager
The responsibilities of a procurement manager include:
- Design and implement sourcing strategies.
- Source suppliers and build relationships with suppliers.
- Negotiating with suppliers for the best possible terms.
- Oversee and approve ordering of goods and services.
- Finalize purchase details of orders and deliveries
- Evaluate existing contracts.
- Reduce expenses and improve the effectiveness of the processes.
- Work with key personnel to provide clarity on company specifications and expectations.
- Foresee alterations in the comparative negotiating ability of suppliers and clients
- Problem solving
- Perform risk management strategies in contracts.
- Mitigate spending.
There are also requirements to fulfill this position:
- The individual must be able to prove previous working experience as a procurement officer or manager,
- Sound knowledge of processes and practices.
- Exceptional negotiating skills.
- IT skills and knowledge of the current software industry.
- Strong decision-making skills and mathematical skills.
- The ability to collect and analyze data.
- Strong leadership skills and the ability to lead a team effectively.
- BSc degree in logistics, supply chain management, business management.
Supply chain management statistics show that the industry is growing at a rapid pace. And with the introduction of software programs that make the processes in this industry more streamlined and responsive, it is evident that positions in this industry are highly sought after and in demand.
An experienced recruiter is able to source the right candidate for the job and place the candidate in the shortest possible time. Placement of key staff is critical to the smooth operations of the company and ensuring that the business remains profitable.