Summary In the contemporary business environment, digital procurement is becoming increasingly popular and sought after by businesses around the world. The relationships …
Maximise returns and results in procurement functions with expert insights and proven strategies by consulting trusted specialists in procurement
Conveniently leverage the expertise and experience of highly accomplished specialists in procurement for optimal returns, savings, and profitability from procurement activities in your organisation.
When reducing risk, maximising efficiency, and boosting returns through optimised spending become your business’s need of the hour, aiming for procurement excellence is the most promising way forward to achieving these aims effectively.
In this regard, consultation with a procurement specialist can bring bountiful results to organisations in the most cost-effective and convenient ways.
While providing expert direction on managing and overseeing the procurement function, they assume the responsibility for finding the best suppliers, negotiating the best prices and terms, ensuring the quality and timely delivery of goods and services, in addition to resolving any issues that may arise.
Working with a seasoned specialist in procurement can allow businesses to enhance their reputation and competitiveness to gain an edge in the market while enabling them to make considerable savings in terms of costs, time, and resources.
But how do you find the ideal specialist for the procurement function of your business? What are the key considerations that you should take into account when selecting a specialist provider for this role? Read on and explore some of the most important factors that you should evaluate.
Fighting the effects of inflation with sourcing and procurement consultants
What are the most important criteria to look for?
Deciding the ideal fit in terms of a specialist consultant will involve matching a wide array of characteristics and competencies against the specific requirements and configurations of procurement functions.
However, considering the following criteria can help organisations pinpoint the ideal providers who suit their requirements to ensure that the final decision is headed in the right direction.
Expertise and experience
The procurement specialist that you choose has to have a solid understanding of all aspects of procurement and an unparalleled level of expertise in the industry or sector that your organisation serves.
Looking at their track record, experience gained through past projects, and qualifications can allow organisations to measure a specialist’s fit level of expertise in guiding the businesses. The right specialist can apply their knowledge of the latest trends and best practices in procurement to drive greater returns from multiple aspects such as sustainability, digitalisation, and innovation.
Skill levels and competencies
Technical skills that allow them to perform procurement tasks effectively and efficiently are an absolute necessity to look out for. These include skills such as research into supplier markets, supplier analysis, contract negotiation, risk management, data analysis, and project management.
The procurement specialist must also possess the essential soft skills to communicate and collaborate with various stakeholders, such as suppliers, internal teams, and senior management. Skills such as communication, negotiation, problem-solving, teamwork, and leadership will support the specialist’s expertise and strengthen the results they can generate.
Reputation and past performance
An exceptional procurement specialist should be able to demonstrate their achievements and impact in previous or current roles. They should be able to provide evidence of how they have improved the procurement process and outcomes for relevant clients.
Organisations should place emphasis on the ability of the specialists to set clear and realistic targets and parameters to measure progress. A competent specialist in procurement will have a solid reputation and should be able to demonstrate how they have added value to businesses through cost savings, quality improvement, risk reduction, or innovation.
Availability and cost of services
Although price should not be the ultimate deciding factor when it comes to working with a specialist provider in procurement, consultants that offer a more competitive and reasonable price for their services should be prioritised, provided all other criteria are similar between the potential partners.
Affordability is an important trait, so providers should be able to offer attractive prices without compromising on quality or delivery of services and can work within the budget and timeframe set by your organisation, without causing any delays or disruptions. You should compare different options and proposals from various providers and choose the one that best suits your needs.
How can Kronos Group help you optimise procurement functions for maximum returns?
At Kronos Group, our procurement professionals have helped countless corporations in Europe and around the world implement impactful procurement strategies and processes to elevate results across a multitude of industries.
Our team of procurement consultants possess the expertise needed to understand the ever-changing procurement landscape and the demands that are associated with it. As a result, we have developed complete procurement solutions, including:
With many businesses beginning to understand the strategic importance of collaborating with a procurement specialist on their returns, the need to integrate stronger strategies and action plans is more critical than ever before.
Get in touch with our team of procurement professionals today and discover how we add value to your procurement functions with our specialist knowledge and expertise in optimising procurement for a diverse range of industries.
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