In today’s fast-paced environment, upskilling your procurement team is crucial for maintaining a competitive edge. As a procurement leader, you need to understand industry trends to train your procurement team—and empower them to drive innovative solutions, deliver unparalleled value, and become strategic partners in your business growth. To stay ahead of the curve—you must learn, adapt, and evolve.
The success of any organization relies heavily on its procurement team’s strategic approach to efficient procurement and sourcing practices. Over time, business leaders have increasingly turned to procurement not just to acquire products and services but for insights that inform strategy as well. As procurement teams have gained greater visibility within their organizations, they have had to adapt the tools, capabilities, and mindset required to enhance their value. This transformation has been driven in part by emerging technology, resulting in the formation of hybrid procurement teams that combine experienced professionals with younger, tech-oriented individuals.
In the first installment of ProcureAbility’s ‘Future of Procurement’ Insights series, we explored leading strategies for recruiting top talent to meet the demands of the procurement department. In this second installment, we delve into what it takes for procurement leaders to build successful teams from within, focusing on their internal dynamics and strategies.
Start with a solid foundation
Whether your procurement team consists of experienced professionals or young employees launching their careers, they all require additional development of skills. This requires fostering a team culture that emphasizes continuous improvement, innovation, and cross-functional collaboration. Motivate your team to stay updated on industry trends, enhance their negotiation skills, and cultivate strong supplier relationships.
Your team needs clear guidance and a solid foundation for success. In today’s evolving operational landscape, this translates to:
Training and development
With these enablers on hand, the next ingredient for success is ensuring your team’s skills and capabilities remain not only relevant but differentiated as well. A well-trained procurement team is better equipped to navigate the complexities of global supply chains and risk management. That kind of training and development takes focus and dedicated resources.
Focus on building out the right kind of culture
Strong culture and leadership are essential to your procurement organization’s cohesiveness and ensures clear communication and alignment with your organizational goals. You can start building the right kind of culture today by considering the following best practices:
Put your procurement recruiting process under the microscope
When it comes to building a world-class procurement team, it’s likely you’ll need to bring in outside talent even as you look to develop your team internally.
Reflect on your previous recruitment efforts: Did you successfully compete for qualified candidates? Why or why not? Are you able to identify the most successful new hires and the qualities they possess? The improvements you make from the recommendations above will surely help attract the right people. Recruiting people with a specific culture in mind, for example, will help drive the kind of change you want within your organization.
Finding the right partner is essential to ensuring you have the resources and insights to build a world-class procurement team. ProcureAbility brings the expertise and experience needed to help you train and develop your team’s talent, build a strong and resilient culture, and analyze your recruiting process.
By strategically addressing the aspects above and collaborating with outside experts, you can create a procurement organization structure that is well-equipped from top to bottom, aligned with your organization’s objectives, and primed for sustainable, long-term success.
In part three of ProcureAbility’s ‘Future of Procurement Talent’ Insights series, we will explore effective strategies and best practices for retaining top procurement talent, through creating a supporting work environment that boosts job satisfaction, engagement, and long-term commitment.