Changes in the B2B market happen all the time. Nowadays, the skills needed to be a good buyer are the result of the fast pace of transformations, a long process of maturation in the area and crises faced by companies. ⠀⠀⠀⠀
As the relevance of the purchasing department in organizations increases, so do the demands of the job market for this professional. Today, to be a successful buyer, it is not enough to obtain the lowest price: you need to add value and innovate.
To stand out, both technical and behavioral skills deserve attention in a buyer's career. Therefore, it is necessary to constantly seek and recycle knowledge and develop the skills that employers are looking for.
In this ME blog post, we will cover the key skills that a purchasing professional needs to build a successful career.
Enjoy reading!
10 Skills Every Successful Buyer Needs
1. Knowledge of strategic sourcing
strategic sourcing is a method for evaluating the complexity of obtaining a given product, consumer goods or services on the market versus the impact that the choice has on the business. In other words, it is the practice of continuously improving a company's purchases.
Through this analysis, it is possible to verify internal and external costs, supply network and levels of services provided for a given product group and then plan specific and strategic actions that aim to meet the organization's needs.
Strategic sourcing can be the key technique to minimize supply problems and delivery delays during this international crisis, for example.
2. Engage with sustainability
The modern buyer considers sustainability and issues ESG – environmental, social and governance – as a fundamental process of its purchasing strategy.
But to put this discourse into practice and actually contribute to society's most urgent issues, it is necessary to go beyond creating responsible sourcing policies.
In the procurement area, becoming engaged with sustainability means being willing to seek ethical and transparent partnerships, with a focus on shared commitment.
Furthermore, a sustainable purchasing area helps its suppliers to develop, prosper and considers changing what needs to be changed in favor of this cause.
In this sense, one of the most necessary skills is continuous process improvement. From now on, it is essential not to be afraid of change.
3. Look for trends in the market
Some time ago, the purchasing department stopped being just an acquisitions department and, today, it is one of the main departments responsible for creating new products and services for a company.
Therefore, to remain competitive in such a competitive market, the buyer needs to be aware of trends and look for innovations that can add value to the product/service.
In purchasing, innovation is not only linked to the creation of a product or the implementation of new raw materials, but also to the integration of digital solutions and automation of processes.
It is important to reflect that, often, a possible innovation can be found in a visit to your supplier, for example.
Another point is that in the procurement of the future – closer than we imagine – consumer behavior will determine purchasing strategies. Keep an eye on it!
4. Adapt to new technologies applied to the purchasing area
Buyers who embrace technology as an ally in their purchasing processes can be very successful throughout their careers. Digital platforms optimize processes that were previously slow and bureaucratic, helping buyers to be more strategic and important to the company's business.
According to a study carried out by Hackett Group International Consulting, the shopping areas that use the technologies 4.0 can achieve cost reductions of up to 17%. However, when they truly embrace digital transformation – that is, they change their mindset and do not just use a specific technology in a specific way – they can reduce costs by 45% or more.
The professional who knows how to use each of them in their daily lives will certainly be one step ahead of their competitors and ready to serve the market in the best possible way.
5. Find cost reduction opportunities
Cost reduction is one of the most important aspects of purchasing. After all, R$1 saved on purchases means R$1 in profit for the company.
How much do we spend? What do we spend on? Who do we spend with? When do we spend? Questions like these can be answered with spend analysis, within the strategic sourcing methodology.
Spend analysis helps the purchasing department identify cost reduction opportunities and its application must not put essential aspects of the business at risk.
In addition to understanding strategic purchasing methodologies and spend analysis, to reduce costs in the area, the buyer will need to master the techniques of negociação.
The use of digital shopping solutions, such as e-Procurement (Procure-to-Pay), for example, allows the buyer to make smart negotiations, have access to spend analysis and achieve more savings (economy).
6. Know how to interact with suppliers
Technology is the rule for business, but relationships are just as important. Buyers cannot maintain good business without communicating and personalizing the service provided by their suppliers. Most organizations that survived the recession did so because they knew how to build relationships.
Knowing how to treat suppliers as partners can bring countless benefits. Companies can obtain better prices, faster delivery times and even encourage collaboration between parties, which favors innovation.
Many companies already understand that collaboration between companies in a supply chain helps to promote lasting and promising coexistence. This interaction, when supported by technology, ends up bringing closer and leveraging the relationship even further, bringing governance and compliance to companies.
7. Make decisions based on metrics
In purchasing, to be more agile and assertive in decision-making, it is necessary to consider KPIs (key performance indicators), such as savings, lead time, productivity, among others.
It is through KPIs that the purchasing area has access to the activity scenario, allowing the buyer to have a greater chance of making the right choices.
That is, when accessing the indicators, the professional leaves the field of assumptions to make way for data intelligence when they need to plan or act.
This analytical competence, combined with intuition, experience and observation, form a powerful combo for professionals to be successful in the field.
8. Manage supply chain risks
No business is untouchable. Threats are inherent to all of us, and when we talk about risks, there are those that we can foresee and avoid, and those that simply happen and force us to act quickly so that the impacts on business and society are minimal. Therefore, a successful buyer must always have a contingency plan in place for when something unexpected happens.
A buyer who does not make the risk management, it is difficult to remain in the spotlight in the company. For those who are not yet very familiar with the term, risk management is a set of activities aimed at managing and controlling a company in relation to potential threats.
Planning should include alternative sources of supply and inventory levels, also considering a possible drop in demand for the company's products or services.
9. Apply governance and compliance in the supplier matrix
Compliance It is a topic that is widely debated among buyers within companies. The vast majority are familiar with it, but few like the bureaucracy involved. After all, it is often seen as an obstacle, something related to obeying, conforming and placing oneself within a format of already established rules.
Organizations are increasingly seeking transparency in their internal and external processes and negotiations. Successful buyers understand the importance of compliance in purchasing processes and know how to take advantage of it, using it as a competitive advantage in their day-to-day operations.
Engaging with suppliers who follow new regulations and legal obligations (such as SPED, Anti-Corruption Law, among others) brings much more value to the supply chain, reducing risks and ensuring a relationship where both parties win.
However, it is not enough to guarantee compliance within the processes, it is necessary to have governance to ensure that partners are following a series of rules to maintain the integrity of the negotiations.
10. Develop and improve behavioral skills
Technical knowledge was once very important in the past. Today, it is no longer sufficient in any professional's career.
In the purchasing area, soft skills (behavioral skills) are one of the most sought-after skills for professionals, especially for purchasing leader.
And you may probably be wondering: how do I develop my behavioral skills? One of the key points is to seek self knowledge, develop active listening, and always think and consider before making any important decision.
Tip: observing people and their attitudes in different situations can help you develop your behavioral skills in a more assertive way.
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