Manage Supplier Relations
Maintaining great supplier relations requires you to go the extra mile, but there are also numerous benefits to doing so. With an insight to the supply chain, you can make strategic changes in advance, instead of reacting after the fact.
Viewing these relationships as partnerships, and working to preserve them, adds value to your organisation - an element that distinguishes buying from strategic procurement.
By communicating with and actively managing suppliers, you can reduce risk within your supply chain.
Build Accredited Teams
With accreditation and qualifications, entire teams can perform at their very best. While a qualified individual can pool their knowledge, an accredited team is more likely to understand and follow best practices.
This is an excellent reflection on you and your organisation, which can give you a strategic advantage over the competition.
Experienced procurement professionals want to work within highly-qualified teams, which will draw better applications to your organisation. This can also assist in negotiations, as suppliers will view the designatory letters of the team as a signal that they’re dealing with experienced professionals.
By offering continuing professional development, your organisation can retain top procurement talent. With the right mix of professional support and opportunities, you can build and retain an effective procurement team.
Reduce Wastage and Unnecessary Spend
Wastage and unnecessary spending can prompt procurement costs to spiral out of control. Errors with ordering or misunderstandings can cost your organisation dearly.
With a better understanding of procurement best practice, these costs can be drastically reduced. Qualified procurement professionals are better placed to re-examine processes, with a keen eye for those that may be causing issues.
When dealing with ordering at scale, small mistakes can quickly add up to large amounts of wasted revenue. Therefore, a base of expert knowledge is essential for a procurement professional.
Through a CIPS qualification, you learn how best to assess the value of different tender bids. Calculating the total lifetime cost of a service or product makes for a simpler comparison than