Procurement
Procurement is the process of finding, agreeing to terms, and buying goods or services for business use. It's like professional shopping for companies, but much more complex. People working in procurement make sure their company gets the best value for money, maintain good relationships with suppliers, and ensure that everything needed is available at the right time. This role has evolved from simple purchasing to become more strategic, often involving contract negotiations, risk management, and using special software to track orders and spending. You might also see this called "purchasing," "sourcing," or "supply management" in job descriptions.
Examples in Resumes
Managed Procurement process for $5M worth of manufacturing equipment
Led strategic Procurement initiatives resulting in 25% cost savings
Implemented new Procurement software to streamline purchasing processes
Developed relationships with key suppliers as Procurement team lead
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 and implement a strategic sourcing plan for a new product line?
Expected Answer: A senior procurement professional should discuss analyzing spend data, market research, identifying potential suppliers, risk assessment, negotiation strategies, and creating long-term supplier partnerships. They should also mention stakeholder management and cost-saving strategies.
Q: How do you handle a situation where a key supplier suddenly increases prices significantly?
Expected Answer: Should demonstrate experience in supplier negotiations, understanding of contract terms, ability to find alternative suppliers, and strategies to minimize impact on the business while maintaining relationships.
Mid Level Questions
Q: What steps do you take to evaluate and select new suppliers?
Expected Answer: Should explain supplier assessment process including requesting quotes, checking references, evaluating financial stability, quality standards, delivery capabilities, and conducting site visits when necessary.
Q: How do you ensure compliance with procurement policies while maintaining efficiency?
Expected Answer: Should discuss experience with procurement systems, approval processes, documentation requirements, and balancing speed with proper procedures.
Junior Level Questions
Q: What is the difference between direct and indirect procurement?
Expected Answer: Should explain that direct procurement involves materials used in making products (like raw materials), while indirect procurement covers operational needs (like office supplies or services).
Q: How do you prioritize multiple purchase requests?
Expected Answer: Should demonstrate understanding of urgency vs importance, budget considerations, and basic organizational skills in managing multiple requests.
Experience Level Indicators
Junior (0-2 years)
- Basic purchasing processes
- Purchase order creation and tracking
- Supplier communication
- Understanding of procurement software
Mid (2-5 years)
- Contract negotiation
- Supplier relationship management
- Cost analysis and reporting
- Category management basics
Senior (5+ years)
- Strategic sourcing
- Risk management
- Team leadership
- Budget management and cost optimization
Red Flags to Watch For
- No experience with procurement software or systems
- Poor understanding of supplier relationship management
- Lack of negotiation experience
- No knowledge of contract terms and conditions
- Unable to explain basic purchasing processes
