The global management and business landscape are changing at an incredible pace. With the ever-increasing demand for the procurement of talent that suits the continuously changing needs and is ready to stand sturdy in the competitive environment, the demand for procurement specialists also increases.
Undoubtedly, technical skills and business acumen are the key traits that a successful procurement specialist should possess. These skills are sure to support you, but some** basic traits** must be cultivated to be one of the best procurement specialists. Applying the blend of creative and practical solutions, procurement specialists do assist in reducing supply chain risk, managing financial impact, monitoring profitability, and identifying the best opportunities.
SHRM in a study reflected that, on average, companies lose $62.4 million per year due to inadequate communication amongst employees, making effective communication important. But have you ever wondered what those other basic traits are and how will it help in the long run?
Top 5 basic traits of successful procurement specialists
A successful procurement specialist possesses multiple traits that can be used in collaboration for the best outcome. These basic traits are the ones that differentiate a mediocre from a highly successful and efficient leader. These are identified based on various **personality assessment **tests.
Be open to communication
When you want to be a successful procurement specialist, this is the primary trait that you need to inculcate. Procurement is all about communication, networking, and building relationships with various stakeholders of the organisation. You need to develop effective communication skills, increase patience in listening, and learn to be flexible. Great relationships based on open communication are the foundation of effective procurement.
Develop the negotiation skills
The procurement specialist needs to scrutinise every contract and negotiate for the best prices that benefit the organisation. Strong negotiation skills help you deliver positive value to the business. Negotiation skills developed are all about how they conduct themselves. Possessing fiscal responsibility and responsible for rendering strong vendor relationships, it is a must that the procurer remain courteous and fair while negotiating.
Think out of the box
A procurer needs an unconventional thinker ready to embrace new technology and analyse beyond the regulars. If you wish to be a successful procurement specialist, then accepting the challenges and bringing out solutions that display your leadership qualities is required. Understanding the diverse business environment, thinking strategically, nurturing every negotiation with innovative ideas can help in building this trait.
Time management skills
The skill of delivering the procurement requirement on time is one of the critical** basic traits** of a successful procurer. Ensuring that all the contracts and tenders are timely filed, revised, and generated, the procurement specialist is liable for assuring no loophole remains in process and procedures. Reducing the turnaround time in business is key to achieving efficient results.
Proactive learning approach
A common question asked to Procurement Specialists is, “How they conduct themselves to stay updated on upcoming trends?” Indeed, a crucial point as the technological advancements and rapid growing competition makes it inevitable for the specialists to learn proactively. To paint a bigger picture of tomorrow, staying updated about the changes and continuously polishing the skills by knowing the most potential procurement strategies is crucial.
From technology to the trade systems, there has been a sweeping change in procurement, demanding the need for personality assessment to find the scopes of improvement for procurement professionals.
Organisational psychologist and researcher Tasha Eurich in the Harvard Business Review stated that around 95% of people believe they are self-aware of their personality. Only 10-15% are aware of their real personality. So, how can 85-90% know their personality assessment?
Personality assessment for procurement specialists
A procurement specialist communicates with the business stakeholders, especially vendors, to manage the contracts to ensure the best prices. To be a successful procurement specialist, you need to be a good negotiator, great communicator, and listener first, followed by acquiring analytical and business acumen skills.
The most prominent tool used is the Johari window model, which focuses on understanding and enhancing communication between the members in a group. The model is based on four different knowledge areas, which are:
This is the information known to you about feelings, attitudes, emotions, behaviour, skills, and views. The open area is one on which the dynamic and effective relationship is based on.
Blind self or blind spot
The details of your attitude and skills unknown to you but known to others fall under this category. These need to be reduced or enhanced based on the feedback of others.
Hidden area or facade
Do you have any fear or negative past experiences unknown to anyone? If yes, these are the ones that you are reluctant to share or instead prefer to hide from others.
There are some skills and abilities that one develops on the way. The then-unknown skills are eventually developed and might move ahead to any one of the categories in the future.
Though there are various ways for Personality assessment, being in the decision-making position, you need to analyse and polish the skills and abilities you possess continuously.
How Will It Help In The Long Run: Know The Conduct
Procurement is the critical process in the business that deals with manufacturing, ultimately implying the production for customer satisfaction. Contracting, procuring, and managing are vital aspects of being a tactical procurement specialist to succeed in a competitive environment.
The question that remains here for every professional procurer regarding a specialist procurer is, “How they conduct themselves?” Indeed one of the most prominent questions. Procurement specialists are continuous learners, strategists, and overall leaders that are valuable assets to any organisation.
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