Build Procurement’s Strategic and Analytical Capabilities

Published On:
November 13, 2020
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As the role of procurement shifts, so do the required skills of procurement professionals. Increased demands require professionals skilled in data, risk, and supplier relationship management, as well contract negotiation, business ethics, and advising stakeholders. Such skills enable procurement professionals to act in a strategic and analytical capacity. Top performers are responding with a shift in professional development, clearly communicated job expectations, and incentives to drive skill expansion.

From APQC’s Sourcing and Procurement Blueprint for Success, this article details the importance of preparing and motivating procurement staff to face increasingly complex responsibilities. These findings are supported by APQC’s Open Standards Benchmarking results and real-world examples from top performers.