Stakeholder engagement is essential if procurement is to be successful in its sourcing endeavours. So, if you are a procurement professional or you want to shift to procurement, here are the skills that you need to enjoy successful interaction with different departments in your organisation.
CPOs are keen to become trusted advisors to different departments in their organisation. This is only possible if procurement professionals have strong collaboration skills. When you collaborate with other departments, it allows you to engage with stakeholders and ensure they do not view procurement as a hindrance in vendor and supplier selection process.
Improve domain knowledge
Today, the procurement process relies on departments for their domain knowledge and expertise. With a good domain knowledge, you will be able to suggest and recommend substitutes, so that the department does not have to wait too long. You should know each department’s core function, targets for the year and the key challenges the department is experiencing.
To manage risks, you would need to establish and negotiate contracts, so that you get favourable terms for the organisation. Remember, sometimes, contracts may take a long time to negotiate, but once the stakeholders see the price and quality, they will begin to appreciate the work you have put in.
Be responsive to the needs of the stakeholders and it will help you establish a rapport with them. Remember, stakeholders in your organisation may not always send you a new request for things they would like to source. Sometimes, they may have questions about suppliers and contracts. They expect you to respond in the same manner as you would for their request for products.
Knowledge of existing laws
Compliance is a major issue that procurement has to tackle, especially when onboarding new suppliers and vendors. Hence, you should be knowledgeable about existing laws so that you can ensure suppliers are compliant and, in doing so, your organisation is also compliant with the laws and your organisation’s procurement policy.