Ten Top Tips to Raise the Profile of Procurement in your Organisation
The awareness of Procurement within companies has continued to grow. This is reflected by its professional influence in the boardroom, and its position as a key business partner to stakeholders and suppliers. Yet, plenty of opportunities still exist to improve perceptions and to raise Procurement’s profile as an essential business function.
Here are the top ten tips compiled from the input of CASME’s global members on how to raise the profile of Procurement in your organisation:
- Gain new insights from a broad range of stakeholders, such as Legal, Finance, suppliers and external agencies, for inclusion in the strategy plan for marketing Procurement
- Develop a formal stakeholder communication plan, managed by resources dedicated to publicity and promotion
- Align Procurement’s strategies beyond cost savings, with the priorities of stakeholders, such as risk management and reduction of purchasing cycle times
- Regularly communicate how procurement initiatives achieve business objectives beyond purchasing good practice; for example, increased sales, revenue, growth, market penetration, and technological integration
- Focus on the value Procurement can provide rather than organisational policies or mandates when engaging with stakeholders
- Create a tailored subset of KPIs that addresses specific priorities and interests of stakeholders to demonstrate Procurement’s performance
- Use the company’s employee onboarding process to publicise the value of Procurement
- Take advantage of informal opportunities to build relationships with business units and stakeholders
- Participate in supplier and stakeholder forums to build credibility; communicate unambiguously and avoid ‘procurement’ terminology
- Establish category-specific, cross-functional teams and governance/steering committees to support stakeholders.
These ten top tips were compiled from the input of global procurement professionals who subscribe to CASME. Comments were made at RoundTables in a number of cities worldwide and originally published in the Marketing Procurement to Stakeholders Good Practice Guide.
To find out more about the benefits of CASME membership and to receive the full Marketing Procurement to Stakeholders Good Practice Guide, please contact our team.