Why you should consider a career in procurement and supply management
Procurement and supply management professionals are increasingly being turned to by businesses to deliver growth and improve margins. As a profession, it is starting to get recognition as a major contributor to company growth, opening up great career opportunities to industry professionals. So, how can a career in procurement or supply management benefit you?
What are the benefits of a career in procurement and supply management
Procurement opportunities are increasing
As procurement gains further recognition amongst businesses, the opportunities for professionals to progress and really show their worth are growing. CIPS/Hays Procurement Salary Guide and Insights 2019 found that there has been a 5% increase in the number of UK recruiters looking for procurement talent and 65% of managers are expecting to hire in the next 12 months.
As a procurement or supply professional, you will be exposed to key stakeholders early on in your career, offering you the opportunity to shine from the get go. Therefore, procurement is very much a profession where many doors are open to you and where performance drives career progression, though not necessarily seniority.
Procurement salaries are rising
With the high demand for procurement and supply chain professionals within organisations, the ball is firmly in the candidate’s court. As such, organisations are willing to offer higher salaries to encourage top professionals to join their teams. According to the CIPS/Hays Procurement Salary Guide and Insights 2019, procurement salaries in the UK increased by 5.3% in the last year, which not only compares favourably, but exceeds the 2.7% national average.
Procurement skills are in demand
Naturally, with increased opportunities within procurement and better salaries, it follows that procurement skills are in high demand. Within the profession itself, there is an increasing skills gap as businesses increase their reliance on procurement to solve business problems and improve the bottom line. As such, the demand for experienced procurement and supply management professionals is reaching peak levels with 66% of UK recruiters now requesting CIPS members for their roles - up 5% on last years’ figures*.
You are rewarded for performance
As a role that is now being relied upon to deliver business goals, it gives individuals the opportunity to really show their worth and, as such, they are being rewarded accordingly. There is also a need for businesses to retain high-quality procurement and supply employees so they are investing more into recognising their efforts. The CIPS/Hays Procurement Salary Guide and Insights 2019 found that procurement professionals in the UK can expect bonuses on average of 9.2% of their salaries with 38% of professionals receiving a bonus in 2019. However, this increased significantly for CIPS fellows with 45% receiving a bonus, which was on average 21% of their salaries.
Procurement offers opportunities to travel
Procurement and supply management professionals are needed globally, giving you the opportunity to work anywhere in the world. Plus, the profession operates in global markets meaning that you could have the opportunity to travel for client and supplier meetings.
You can gain a wealth of cross-industry experience
Procurement and supply chain professionals work within and with a huge variety of industries on a wide range of projects, offering individuals the opportunity to gain cross-sector experience. This offers plenty of challenges but also encourages collaboration and strong communication, allowing an individual to develop themselves and shape their own career.
You can make a difference
Efforts made by procurement and supply chain professionals make an impact on the world, from sourcing sustainable materials to outlawing modern slavery, so you could really make your mark on some key issues facing the world currently.
What could you be doing?
Procurement and supply chain are responsible for optimising costs and reporting on any savings achieved, whilst also delivering more tangible benefits to the business such as negotiating contracts, enabling the introduction of new processes and managing offshore operations.
With a career in procurement and supply, you could be involved in ensuring that ethical procurement is carried out, including making sure people are protected against abuse, mistreatment and modern slavery; and you will be relied upon as a core function to the business trusted with managing relations and getting value for money. Your role might involve global travel, but will most definitely include working with global suppliers.
Where could it take you?
The world is your oyster when choosing a career in procurement and supply. You can choose to work anywhere in the world within any industry and across multiple projects whilst achieving a competitive salary and benefits package. Opportunities for progression are plentiful with the chance to really prove your wealth and excel within your organisation.
How can CIPS help me in my career in procurement and supply?
Whether you want to study full time at college or university, or would prefer on-the-job training, there’s a pathway into procurement and supply to suit you.
CIPS offers a number of procurement and supply qualifications that can get you on the right path to excel in your career whatever level you’re at. These include:
- CIPS Level 2 Certificate in Procurement and Supply Operations
- CIPS Level 3 Advanced Certificate in Procurement and Supply Operations
- CIPS Level 4 Diploma in Procurement and Supply
- CIPS Level 5 Advanced Diploma in Procurement and Supply
- CIPS Level 6 Professional Diploma in Procurement and Supply
You can also partake in shorter training sessions, explore them here.
If a professional qualification or training is not for you, you can learn about procurement and supply through the CIPS Knowledge hub which provides best practice insights, guidance and tools or Supply Management magazine for insights delivered to your mailbox.
If you would like to start or progress your career in procurement and supply, search for your next job with Supply Management Jobs now.
*Statistics taken from CIPS/Hays Procurement Salary Guide and Insights 2019