Procurement
Procurement is the process of finding, agreeing terms, and obtaining goods, services, or works from an external source. Think of it as professional buying for businesses. It's different from regular shopping because it involves strategies to get the best value, not just the lowest price. Procurement specialists help companies save money, build relationships with suppliers, and make sure the business always has what it needs to operate. Similar terms include "purchasing," "sourcing," or "supply management." Many large companies have entire departments dedicated to procurement, while smaller ones might have just one person handling these responsibilities.
Examples in Resumes
Led strategic Procurement initiatives resulting in 30% cost savings
Managed global Procurement team across 5 regions
Implemented new Procurement software reducing purchase cycle time by 50%
Developed Strategic Procurement processes for indirect materials
Restructured Procurement Operations leading to $2M annual savings
Typical job title: "Procurement Professionals"
Also try searching for:
Where to Find Procurement Professionals
Professional Associations
Online Communities
Job Boards
Example Interview Questions
Senior Level Questions
Q: How would you develop a strategic sourcing plan for a new category of spend?
Expected Answer: A senior professional should discuss analyzing spend data, market research, identifying potential suppliers, risk assessment, and developing negotiation strategies. They should mention stakeholder engagement and change management aspects.
Q: How do you measure procurement performance and ROI?
Expected Answer: Should discuss key metrics like cost savings, supplier performance, purchase cycle time, contract compliance, and how to track and report these to leadership. Should mention both quantitative and qualitative measures.
Mid Level Questions
Q: How do you handle supplier negotiations?
Expected Answer: Should explain preparation steps, understanding leverage points, win-win approach, and basic negotiation techniques. Should mention importance of maintaining good supplier relationships while achieving cost targets.
Q: What steps do you take to ensure supplier compliance?
Expected Answer: Should discuss supplier performance monitoring, regular reviews, quality checks, and maintaining clear communication channels. Should mention basic contract management principles.
Junior Level Questions
Q: What is the basic procurement cycle?
Expected Answer: Should be able to explain the basic steps: identifying needs, requesting quotes, comparing suppliers, placing orders, receiving goods/services, and processing payments.
Q: How do you prioritize multiple purchase requests?
Expected Answer: Should discuss basic prioritization criteria like urgency, business impact, lead times, and working with internal customers to manage expectations.
Experience Level Indicators
Junior (0-2 years)
- Basic purchase order processing
- Vendor communication
- Purchase requisition handling
- Basic contract understanding
Mid (2-5 years)
- Supplier relationship management
- Contract negotiation
- Cost analysis
- Category management basics
Senior (5+ years)
- Strategic sourcing
- Team leadership
- Risk management
- Global procurement strategy
Red Flags to Watch For
- No experience with contract management
- Lack of negotiation skills
- No understanding of supplier relationship management
- Unable to demonstrate cost savings achievements
- No knowledge of procurement software systems
