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Is Advanced Procurement training Really Worth the Investment?

One of the reasons a company employs a purchasing manager is that they need a person with specialized skills for the implementation and development of plans and strategies related to purchasing and procurement. Companies need to get the best out of their procurement managers. One of the best ways to enhance and get the best from your entire procurement team si through advanced procurement training. This training will help your team to augment their skills and learn new and better means to carry out their job. However, not everyone is as enthusiastic about training considering the costs involved. Employers have to decide if the investment of time and money is worth the additional skills and unfortunately the answer is not always yes in practice.

The benefits it can impart:

Advanced procurement training can provide the entire procurement team with skills that the procurement professionals need to know. These skills go beyond the core knowledge acquired through higher education and degrees into the latest industry trends and concepts. One of the most important benefits of advanced training is, simply put, staying current. Over time technological advancements, economic conditions, and the rise and fall of suppliers can impact the most effective strategies and techniques.

The training can bring a greater understanding of the way procurement affects the organization’s finances. Procurement managers staying current in their training can work more efficiently and that can result in a decline in the expenses pertaining to cost of services and materials. The training can also make all your procurement professionals more confident in their own abilities. Working from a place of confidence can help everyone to achieve the objectives set by the procurement strategy of the company.

Well trained professionals would know the importance of teamwork and the way it should be carried out. The importance of teamwork and good interpersonal skills can be enhanced through advanced procurement training. The training would elevate the leadership skills of the procurement manager through which he would be in a position to assist fellow employees in a better way. Training could even help the relationship between the supplier and contractor; it would strengthen it by making the manager well equipped with the necessary skills.

Possible challenges of procurement training:

Although there are many benefits of advanced procurement training the fact is that it does involve some cost. In the long run the training will help the organization, but the company has to look into its finances and matters pertaining to short term investment before making advances. The potential candidate must also be assessed before investing in his training. There is risk of the employee getting the additional training and using that to advance his or her career into another company. The beneficial factors must outweigh the risks that are associated with it. Purchasing manager’s existing skills must be evaluated what additional training is needed and the appropriate path to get there. Alternative training sources may also be looked at to keep costs down while determining the level of commitment the employee has to both the training your company.

 



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April 1, 2014
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BY Bellwether
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