There are many articles on this issue across all Procurement sites, social media sites where Procurement Pros gather, and even major FinTech publications. And have been for years.
If you search for the skill sets that make a Procurement Pro, you’ll likely find a list that contains ten or more of the following 30 (thirty) skills:
- strategy
- tactics
- supply management
- negotiation
- contract management
- great listening
- convincing speech
- teamwork / team management / team motivation / team spirit
- problem solving
- spend and process analysis
- big picture planning and delegation skills
- supply chain and cross-functional awareness
- leadership
- high EQ (emotional quotient)
- high TQ (technical quotient)
- process management
- should-cost modelling and price analysis
- supplier selection
- supplier management
- relationship management
- market research
- risk management
- stakeholder management
- collaboration
- strategic sourcing
- regulatory knowledge
- demand planning
- customer service orientation
- sustainability
- decision making
And while classically this was a pretty good foundation, in this unstable world full of marketing hype, some new skills are needed and some old skills need upgrading. The following five in particular come to mind:
- lie detector and hype buster: every vendor lies, and your ability to detect the extent of their lies is key — what’s the quality on the delivered goods vs the sample, how much can they actually produce in a given window, how long will delivery actually take, can they really afford to maintain the quality at the price they bid; and when it comes to software vendors — how many of their claims are really in production, how long will implementation and integration really take, and how responsive will their support actually be; and when it comes to AI marketing, they cut through the hype to what the tech can really do, which is a fraction of what the vendor claims
- foundational mastery: a true Procurement Pro is one that understands the function and core processes at the core and can execute them all with nothing more than a pencil, paper, and telephone; in a world dependent on tech, a true tech master is one that understands how to get by without the tech; only that person can master the use of the tech in their daily job as well as keep moving forward when the tech inevitably fails; for all its power, a single EMP or massive grid failure can take down a data center and all your tech with it (and a massive solar flare, which happens every few hundred years can manage that)
- crisis predictor: it’s not just risk management, it’s global situation monitoring and crisis prediction — will escalating political tensions result in conflict, war, or border closings; will severe weather or drought conditions limit or cut off trade routes; will rapidly rising oil prices or insurance rates result in a number of critical carrier bankruptcies; etc.
- change master: the core of Procurement never changes; it’s purpose today is the same purpose it was when formal trade first began thousands of years ago; but the processes, mechanisms, and technologies that are used to conduct it are in constant flux; as are the availability of sources, partners, channels, and customers as many economic and geopolitical factors are in constant flux; a Procurement Pro needs to be able to constantly adapt and regularly do so mid-process
- terminator: every business and department is great at starting things, but no one ever wants to end things — sometimes the best thing you can do is end things that are taking up too much time, energy, or money compared to the value they are delivering
In other words, the classic skills are a good start, but the modern world, and the business environment that has evolved, demands another layer on top of those classical skills to thrive.
Is your Procurement Leader ready?