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Procurement advice is a professional service provided by experts in procurement, including the design and use of electronic procurement systems. Procurement consultants are hired to review policies, enhance processes, or implement systems, and are expected to have post-secondary education, professional certification, and significant work experience. The industry has grown rapidly and is expected to continue to grow, with well-known procurement concepts saving companies costs and personnel time. When selecting a procurement consulting firm, it is important to review resumes and ensure a project manager is assigned to the project.
Procurement advice is a professional service provided by individuals with extensive experience and expertise in various aspects of procurement. Procurement or purchasing is the process of selecting suppliers and signing contracts for a business to purchase goods and services. The types of goods and the total dollar value of the contract vary widely, depending on the industry and size of the company.
In addition to traditional procurement, the implementation of the system has significantly increased the demand for procurement consultants. These consultants should be subject matter experts who can advise the company and systems personnel on what is best practice and how to use the system to its maximum advantage. This aspect of procurement also includes the design and use of electronic procurement or procurement systems. These tools are increasingly popular as a means of increasing efficiency and improving transparency within the business organization.
There are three main types of firms that offer procurement consultancy services: large multinational corporations, boutiques, and vendor-specific consultancies. All consulting firms provide access to subject matter experts, who are hired to perform a specific task or function and then move on to the next task. The services of a consultant are typically required in circumstances where internal staff lack the skills to change the current business process. The expectation is that the consultant will leave at the end of the assignment and the remaining staff will support the new business process or system.
Procurement consultants travel extensively, working for companies that have one of three primary needs: reviewing procurement policy, enhancing the current business process, or implementing a procurement system. While there are many paths to becoming a procurement consultant, all procurement consultants have a post-secondary education, professional certification, and significant procurement work experience.
The procurement advisory industry has grown rapidly over the past five years and is expected to continue to grow for the next 10-15 years. It has been proven that the application of well-known procurement concepts saves companies real costs and personnel time. Realized savings are often achieved through improved business processes or negotiation and do not require a reduction in services.
When selecting a procurement consulting firm, request a detailed project plan and review the resumes of the consultants assigned to the project. Ensure there is a project manager with experience and authority assigned to the project to ensure the consultant has the tools needed to get the job done and stay focused on the task at hand.
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