There are many titles in the world of Procurement. Purchasing Buyer or Manager, Sourcing Buyer or Manager, Category
Buyer or Manager, and Procurement Buyer or Manager to name a few. These professionals are responsible for Initiating
Projects, Developing Strategies, Problem Resolution, Managing Suppliers/Vendors, Working Cross-Functionally, Cost
Management, Relationship Management and supporting the implementation of the Corporate Strategy, commercially.
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Key skills for this profession are Analytical, Decision-Making, Time Management, Mathematics and Negotiating. To be
successful, you must be able to work collaboratively and be comfortable developing relationships. Being nice is not a
requirement; but you must always communicate with kindness, confidence, and transparency.
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Manufacturing procurement roles are focused on Cost Analysis and the understanding of how products are produced.
Mastering the knowledge of Fixed Cost (rent expense, equipment depreciation, salaries, etc.) versus Variable Cost
(wages, utilities, raw materials, etc.) is key. Banking in contrast, is focused on Contractual Law. The Master
Service Agreement (MSA) is the governing document that outlines the framework of the agreements the parties are entering
in to. In both industries, the Statement of Work (SOW) will outline the deliverables agreed to and is the key document
for understanding what is being procured.
ProcurementĀ represents a fantastic choice for college graduates looking for a varied and exciting role. It is one of the
few careers where an employee is given the opportunity to manage a budget and play a contributary role in taking a
project from start to finish. This role, however, is not for the āfaint of heartā. You will be challenged daily with the
necessity to juggle multiple priorities simultaneously. Ambiguity and Stress will be part of your everyday life ā but
the rewards of taking a project from conception to implementation, knowing that you had a direct impact to the bottom
line is - Priceless!
Are you looking to control the cost to bring your product to market? Are in need of cost analysis instructional training for your employees? Whatever your needs Select this link to go directly to our Website to review our offerings and request a proposal