Firebolt Group’s Post

If you don't feel like corporate material, Procurement might be for you. What you consider a weakness could be your strength in Procurement. If you're worried about your experience or not having the right certificates, you might be exactly what Procurement needs. We need more misfits and renegades to help flip the script on its head and change the perception of Procurement.

Procurement & Materials Professionals are often blamed when orders are delayed. But quite often it’s due to circumstances outside of our control. I wish I had a dollar for every time I heard, “We placed the order with Materials and Procurement! So, where’s out stuff??” Of course, these statements would be made during meetings with Sr. Leadership. And it would be impossible to dispute that on the spot, calling our integrity into question. While I wish I had a silver bullet for how to prevent such things…. What I can say is that maintaining an accurate system, starting from when equipment and material is requested, is key. And further tracking the status of orders through the entire process is an absolute must. Also constantly asking questions like: “Is this truly a Priority 1 order? Or should other orders be elevated to a higher priority than this one?” “Do we have a suitable substitute in our warehouse that we can issue right now, versus placing an entirely new order?” While Procurement & Materials Professionals don’t quite get the credit that we deserve, we must always continue adding value to our organizations, and to our customers as a whole. #procurement #inventorymanagement #supplychainmanagement

Procurement as a function is the first stage of execution

In my 30 years of procurement i have learnt some very important lessons which i share with all my young colleagues. Attention to detail in procurement ensures accuracy, compliance, and cost-effectiveness. Thorough examination of contracts and quality standards prevents errors and minimizes risks. Scrutinizing supplier agreements and delivery schedules avoids discrepancies and improves deals. Verifying quantities, pricing, and specifications enhances efficiency and transparency, optimizing resources and procurement performance. Above all practice of First Time Right reduces rework and Cost of Poor Quality (COPQ)

Strategic Procurement - an attempted definition In some discussions I learned that there are several ideas and definitions about Strategic Procurement. I try to give one what we can discuss, if you want. Most important is to work at Procurement structure, at the main topics: - category management, define and manage material groups - supplier base, define and "limit" active suppliers - contract management, Delivery and Quality Assurance Agreements - risk management Very important are requests for bids to get offers and a market overview about suppliers and their pricing terms. Task is to find the "best" suppliers and to organize a well-grounded basis for price and condition negotiations: - production lot sizes - delivery lot sizes - forecast and fixed purchase commitments - logistics costs and delivery times At technical Procurement additional a close cooperation with development and suppliers is necessary to discuss drawings and specifications with the target cost-reduction up to cost-engineering in the development phase. What do you think, which topics are missing?

No better day than today to seek more knowledge to further my career in procurement……

Procurement… such a complex world. 🌪️ Just to remember: Procurement is not Purchasing! ❌ Following a good procurement process will give you quality and it allows you to achieve products or services better in the future. 🛒📊📈 @chrissaavedra16 👍

Defining procurement for a hypothetical curious child Procurement for a grown-up means getting something they need, like buying groceries or office supplies. But that word might be a bit grown-up for you! Think of procurement like getting something you really want, but in a way that makes sense. Here's how it applies to toys: Making a List: Before you go to the store, you might make a list of toys you want. This is like figuring out what you need to "procure." Planning and Saving: Maybe you can't afford all the toys on your list right away. Planning (deciding which one you want most) and saving your allowance (like having a budget) helps you "procure" that special toy. Finding the Best Deal: Sometimes, a toy might be cheaper at another store. Looking around for the best price is another part of procurement! So, next time you get a new toy, remember - you're a procurement pro!

Not all procurement roles are created equal. For me, the best ones are where you get out of the office. I’m off to Acacia Ridge this morning to meet key stakeholders, talking all things materials, warehousing and safety. (They are on site at 6:30am) Let’s help promote procurement. What is best place you have visited as a part of your role? #procurement