For 10 years now, Silvia Hamann (Best Practice Institute GmbH) and I have been working together to continuously train and develop Procurement Teams. Together, we have conducted dozens of trainings worldwide for my teams and my clients, whether in Europe, the USA, South America, Qatar, or Asia.
A few weeks ago, we met for a “strategy meeting” on the rooftops of Berlin. We talked about new ideas and further activities to increase Procurement performance and value contribution but also to retain and develop talent. It was a great pleasure to meet again. And to enjoy a few drinks and talk about the good old days (whenever they were) and why we believe people development is more important than ever.
👉 In the intricate world of Procurement, where decisions can have substantial impacts on an organization’s bottom line, the significance of people development is more than obvious.
⏩Procurement is about relationships, negotiation, and strategic decision-making. Therefore, investing in the development of procurement professionals is paramount for success.
⏩First and foremost, people development ensures a skilled workforce capable of navigating the complexities of procurement. And development programs help retain talent.
⏩Moreover, as technology continues to reshape the procurement landscape, upskilling becomes imperative. Professionals need to adapt to new digital tools and analytics to enhance efficiency and decision-making. Whether it’s mastering e-procurement platforms or leveraging data analytics for market insights, ongoing development ensures procurement stays ahead in an ever-evolving environment.
⏩People development also cultivates leadership and innovation within Procurement teams. By nurturing talent and providing growth opportunities, organizations empower individuals to take ownership and drive initiatives that drive value.
⏩Furthermore, investing in people development boosts employee morale and retention. Talents who feel valued and supported in their growth are more likely to stay loyal to their organization. This reduces turnover costs and ensures continuity in Procurement operations, preserving institutional knowledge and (market & category & supplier) expertise.
📌In conclusion, people development is not just a nice-to-have but a strategic imperative in Procurement. It builds the foundation for a skilled, adaptable, and innovative workforce capable of driving value and maintaining a competitive edge.
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