In a modern enterprise, the role of procurement has significantly changed over the last decade. Traditionally, the focus has always been entirely on upfront cost savings. However, the shortcomings of this approach have been exposed as businesses fail to establish a sustainable competitive advantage in the long run.
Consequently, a streamlined procurement process that follows a clear and concise strategy will ensure that the organization fulfils its business goals. This is where Dragon Sourcing comes in, acting as your purchasing consultant and making the entire procurement process easier. Companies around the world trust us with their procurement requirements and we enable optimum business performance.
To know more about our duty as consultant procurement, get in touch with our customer representatives at the earliest.
Role of a purchasing consultant
Strategic sourcing and procurement have become a crucial part of any business with links to any sort of supply chain. It has a direct impact on the business performance and affects its bottom line, and therefore, long-term sustainability. A robust procurement strategy not only helps your company achieve its business objectives but also helps mitigate the risks involved in procurement.
A purchasing consultant (aka procurement specialist) does exactly that – help you develop an effective procurement strategy and ensure that there is enough effort to transform it into action. They will thoroughly analyze and draft reports about the target supply market, evaluate suppliers from emerging and established markets and manage supplier relationships in an attempt to extract the best value from a partnership.
Mentioned below are some of the key responsibilities of a procurement consultant:
- Develop and orchestrate procurement strategies that are better aligned with company objectives.
- Analyze industry and demand trends to ensure that the procurement strategies are aligned with the organization-wide objectives.
- Preparing bids, requesting quotes, and negotiating terms and conditions per supplier per product category.
- Manage RFI, RTP, and RFQ processes for all requirements across the organization.
- Evaluate suppliers and their offerings against market standards and key business criteria
- Streamline supply chain maintenance, repair, and operations (MRO) by vetting the agreements and conducting supplier rationalization
- Negotiate purchase agreements to ensure that you get the best value for your money without affecting the product categories.
- Supervise the buying process and procure inventory for peak season
- Explore and implement new procurement avenues by studying the success potential of other emerging markets around the world.
Key considerations to make when selecting a procurement consulting firm
Similar to how the cheapest supplier is seldom the best fit for every business, a procurement firm offering the lowest prices is not always the perfect fit for every business. Here are some of the key factors to consider when selecting a purchasing consultant firm.
- Ensure that the firm can offer unbiased evaluations and solutions. Dragon Sourcing is supplier independent, meaning we do not charge commissions and recommend our solutions objectively.
- Check if the firm has the right credentials and experience to serve your industry. Dragon Sourcing is heavily experienced in working with SMEs and MNCs across several industries.
- Ask for proof of previous work as evidence of their expertise claims. Dragon Sourcing has worked with multiple businesses across industries; our success stories are documented as case studies on our website and can be provided upon request.
- Ensure that the chosen methodologies align with your business perspective. At Dragon Sourcing, we work closely with your procurement teams to ensure that the strategies we recommend align with your wider objectives, be it profitability, sustainability, etc.
- Ask about benchmarking tools and how supplier evaluation is carried out. Dragon Sourcing maintains a constantly updated set of tools and best practices to ensure that we only recommend suppliers that can meet your exact requirements.
Why Dragon Sourcing?
At Dragon Sourcing, our team of highly experienced procurement consultants helps our clients tackle even the most intricate problems their business might face when sourcing products. Check out a few reasons why Dragon Sourcing is your ideal partner for sourcing from emerging markets.
- Procurement strategy and implementation
Being one of the leading procurement service providers in the world, Dragon Sourcing is committed to ensuring that the procurement process in your organization follows a clear and concise strategy. Consequently, we go above and beyond to ensure the successful implementation of our strategic recommendations. We bring in a suite of tools and solutions to measure success in terms of actual results that Dragon Sourcing delivers to your organization.
- Industry expertise
As a highly experienced procurement consultant and service provider, we are not limited to a specific industry or category; we work with consultants from several key industries with distinctive competitive markets. Our team is capable of focusing on the particular requirements of specific industries and identifying the right structure, technology, and processes that will ensure that your organization fulfils its business objectives.
- Repository of evaluation tools and best practices
The process of identifying ideal suppliers for procurement is one of the most exhaustive in the industry. We maintain a rich, continuously updated inventory of evaluation tools for measuring benchmarks, governance, performance, etc. These tools have been used by our consultant procurement to assess and develop clear and concise strategies that can be implemented by your business and move up the maturity ladder.
- Quality control
Maintaining consistent quality is crucial for customer satisfaction and profitability, especially when sourcing from overseas markets where the risks are huge. Dragon Sourcing works as your eyes and ears in your target market and ensures that the highest quality standards are maintained in every batch that you order. Being local in such markets allows us to convey the exact product specifications to the supplier, ensuring that nothing is lost in translation. In case there is a change in your requirements, we try to negotiate the best deals on your behalf so that each party in the transaction is satisfied.
We welcome the opportunity of understanding your goals and how we can help to further your success. If you are interested in developing a procurement strategy with our experts, get in touch with Dragon Sourcing with your requirements at the earliest. Our professionals are eager to help you out.