Dear Sir, Can please explain what are all the value added service a procurement manager can execute ?
From India, Chennai
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From India, Chennai
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Dear Magesh,
May I know why you are raising this query? Are you a student or a working professional? If the latter, what type of work do you do? What is the nature of your industry? What type of raw material do you generally purchase?
The biggest value that procurement professionals add is maintaining the procurement spend at a specific level. This is much easier said than done and requires a great amount of coordination with production and sales, as well as coordination with store personnel.
Value addition also comes from fostering a collaborative relationship with suppliers. Purchase managers need to create their own Vendor Development Plan (VDP).
Value addition is achieved through the implementation of various tools of strategic procurement. Just as one-time personnel management has evolved into HR Management, Materials Management has transformed into Supply Chain Management (SCM). SCM necessitates the free flow of material and information, with no inventory blockages at any point. By reducing inventory at various stages – raw materials, work-in-process, and finished goods – procurement professionals decrease the working capital tied up at different stages. Can there be any better "value addition" than this?
In fact, "Purchase" management is a bit of a misnomer. Ideally, it can be called the "Savings" department. Every penny saved in purchasing directly contributes to profit.
I conduct extensive training programs on "Purchase and Inventory Management" related subjects. To learn more about my training activities in this field, you can click the following links and download the respective documents:
[Dinesh V Divekar - Procurement Faculty](https://docs.google.com/document/d/1hUMV30zCvQYIS5FwrloIxUQ_7KAHSPzrPCRuF_C5jIc/edit)
[Programme Structure for Various Training Programmes in Purchase and Inventory Management](https://docs.google.com/document/d/1wfwViQbtdjndEgLFyTFldJDa5dRXCQwU1AmOwqaVv7o/edit)
Thanks,
Dinesh Divekar
+91-9900155394
dineshdivekar(at)gmail(dot)com
From India, Bangalore
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8219May I know why you are raising this query? Are you a student or a working professional? If the latter, what type of work do you do? What is the nature of your industry? What type of raw material do you generally purchase?
The biggest value that procurement professionals add is maintaining the procurement spend at a specific level. This is much easier said than done and requires a great amount of coordination with production and sales, as well as coordination with store personnel.
Value addition also comes from fostering a collaborative relationship with suppliers. Purchase managers need to create their own Vendor Development Plan (VDP).
Value addition is achieved through the implementation of various tools of strategic procurement. Just as one-time personnel management has evolved into HR Management, Materials Management has transformed into Supply Chain Management (SCM). SCM necessitates the free flow of material and information, with no inventory blockages at any point. By reducing inventory at various stages – raw materials, work-in-process, and finished goods – procurement professionals decrease the working capital tied up at different stages. Can there be any better "value addition" than this?
In fact, "Purchase" management is a bit of a misnomer. Ideally, it can be called the "Savings" department. Every penny saved in purchasing directly contributes to profit.
I conduct extensive training programs on "Purchase and Inventory Management" related subjects. To learn more about my training activities in this field, you can click the following links and download the respective documents:
[Dinesh V Divekar - Procurement Faculty](https://docs.google.com/document/d/1hUMV30zCvQYIS5FwrloIxUQ_7KAHSPzrPCRuF_C5jIc/edit)
[Programme Structure for Various Training Programmes in Purchase and Inventory Management](https://docs.google.com/document/d/1wfwViQbtdjndEgLFyTFldJDa5dRXCQwU1AmOwqaVv7o/edit)
Thanks,
Dinesh Divekar
+91-9900155394
dineshdivekar(at)gmail(dot)com
From India, Bangalore
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