From sourcing ethical materials to helping outlaw modern slavery, procurement professionals make a real difference in the world.
From sourcing raw materials and services to managing contracts and relationships with suppliers, procurement and supply management is a complex, strategic, challenging, and ultimately rewarding sector to work in. Professionals in this space enable an organisation to operate in a profitable and ethical manner.
Companies can spend more than 70% of their revenue on procurement (CIPS), so even a small reductions in costs can have a big impact on the bottom line. Dr Klaus Neuhaus, partner in the Dusseldorf office of Bain & Company asserts, “A skilled procurement team can reduce a company’s purchasing cost base by eight to 12% – enough for big companies to save billions. Procurement is the biggest lever companies have for optimising costs.”
The Fourth Industrial revolution will create new opportunities for professionals who are willing to familiarise themselves with new technologies such as automation, artificial intelligence, and the internet of things. According to a recent report produced by German logistics giant DHL, “33% of the current procurement workforce is at or beyond retirement age, leaving many teams with an ageing workforce. As the talent pool becomes increasingly tight, ambitious procurement professionals have a unique opportunity to capitalise on high demand for digital skills to advance their career further, faster.”
The future looks bright for professionals in the procurement industry - companies are acutely aware of the steps they will have to take to attract the best talent, in order to fill the gap left by outgoing staff. In a report commissioned by DHL and authored by Lisa Harrington, president of the lharrington group LLC, “Offering clearer career paths and a visible commitment to the professional development of its supply chain staff combined with competitive remuneration packages are just a few ways to develop and retain talent.”
Our expert consultants are specialists in their markets,recruiting top talent for leading organisations in the procurement profession throughout Germany and Europe.