Output Information and Insights
Don’t keep all your procurement knowledge and information siloed; share it with the rest of your organisation. This can give them the tools that they need to improve their own processes, as they gain further understanding of other departments.
If your team works across departments, then there should be a regular retroactive assessment of how the teams work together.
For example, a department you work with repeatedly places a procurement request too late for a preferred supplier to deliver meaning that you must use a costlier one. Break down this cost to the department and give them more realistic timescales to allow procurement with the preferred supplier. Making this team aware of the implications saves both time and money in this case.
Taking these supplier insights all the way up to the C-suite will also provide clarity on market trends, supplier innovation and supply-chain risks. Procurement professionals must also wear an advisory hat at times, so don’t be afraid to take this insight to the boardroom.
Look Outside of Convention
Some of the most successful procurement teams borrow ideas from other cultures, teams and industries. They’re not afraid to step outside of convention and innovate new practices. Though not all these innovations will be instantly successful, experimentation can bring windfalls in productivity.
Making agile, effective teams a reality can only happen if you’re actively engaged in developing these practices. Trial and experimentation are required to figure out what works for your team, so stay invested in these practices.
Building a world-class procurement team takes time and resources, but these improvements can reap significant rewards. Develop, improve and assess your teams to give your organisation a strategic advantage over the competition.
Learn more about developing your procurement team with our CIPS accredited courses.