Procurement Lead

What is Procurement?

Key Takeaways for Procurement Excellence: Strong supplier relationships are crucial to procurement excellence as they lead to improved quality of service, better pricing, and access to the best solutions during critical situations. Negotiation skills are crucial in procurement as they help achieve discounts through various ways such as bulk-order discounts, favorable payment terms, competitive bidding, and commitment on contact. Digitizing procurement processes can provide businesses with several benefits such as increased efficiency and accuracy, improved compliance, and improved visibility and control. Procurement experts can support and lead the facilitation of purchasing system implementation to ensure smooth running and help identify potential issues. Illumina Inc. is an example of how procurement professionals can support a company's goals through vendor negotiation and collaboration to acquire necessary resources at the best possible price.