With costs constantly rising, companies have realized that maintaining good purchasing management must be a priority. Despite this, many of these companies still rely on manual processes. In other words, they urgently need to completely review these processes to become an important part of their business strategy.
To achieve this, it is necessary to implement an effective procurement and payment process, in addition to adopting the right technologies. However, it is also necessary to understand that simply changing processes or investing in new technologies will not lead to greater efficiency in the sector. Knowing how to choose the best professionals, with the necessary skills to face a new reality, is also part of the change.
While companies expect purchasing managers to have skills such as:
- Partner with teams and leaders in the development and implementation of strategies to generate value
- Conduct research on new trends
- Manage relationships with suppliers and develop negotiation strategies
- Lead projects
- Being integrated with other areas of the company
Other modern skills are also necessary for professionals to perform their role in the best possible way:
- Evaluate suppliers
This ability is essential. You need to analyze a supplier before hiring them. Evaluate prices, quality, delivery capacity, supply chain transparency, among other variables, before signing the contract.
- Interview suppliers
This is part of the process of evaluating suppliers. The purchasing manager must know how to conduct interviews with suppliers, so that he can extract the maximum information about them and to know how the company can benefit from this new relationship. It is important to know their products and services personally.
- Update
It is necessary to stay alert to learn and assimilate new things. Participate in congresses, conferences, keep up to date with the latest developments in the sector. This ensures that the purchasing manager is “tuned in” with the launch of new products, conditions and other details that influence negotiations
- Price monitoring
One of the functions of the purchasing department is to reduce costs. The better the price of a product, the better it is for the purchasing manager to demonstrate his authority in the market. For each acquisition, the purchasing manager is responsible for analyzing price proposals and the company's cash flow before negotiating.
- Negotiation
Negotiation is an essential skill. It is necessary to negotiate a contract without compromising the cash flow, quality and quantity purchased. A well-made agreement gives you an advantage over your competitors.
- Relationship
It is up to the purchasing manager to establish a collaborative relationship with suppliers so that no problems occur between the purchase and delivery of the product or service.
- Collaboration
In addition to maintaining a good relationship with suppliers, the purchasing manager needs to gain the trust of internal employees.
- Review
Once the contract is signed, it is important to ensure compliance. Monitoring the contract ensures that the necessary revisions and adjustments are made to ensure that the terms and conditions remain in line with the market and that the services and provisions meet commercial requirements.
These practices, and others, help the purchasing manager to be fully aware of his/her role and responsibilities. What you should keep in mind is that for the work to be truly rewarding, you need to be motivated and have an entrepreneurial spirit. With COSTDRIVERS, Purchasing manager has access to all the information needed to evaluate suppliers and make more effective negotiations. Contact Us and find out how we can help.
