Why Procurement is a Good Career Choice for Young Adults

Procurement is a profession that has everything – numbers, travel and opportunity. University students should consider this as a career choice because talent in this area is highly-sought after in global business. Chief Procurement Officers are emerging as the saviours of business, helping their organisations to tackle risk or to cope with company expansion.
The intricacies of business are one by one being tamed by specialists. However the risks of falling under the weight of success are constantly increasing with demand. With lower prices being offered and the sense of immediacy that our production speeds have guaranteed, the customer is expecting more from supply chains both in terms of efficiency and ethics.
Supply chains are becoming more important than ever, with industry behemoths still being as susceptible to the wrath of a logistical nightmare as a small company is. The $30 billion annual spending conglomerate 3m uses the term ‘efficient growth’ to describe its engagement with their resilient supply chain.
Their approach to and importance placed on procurement has meant that their sales haven’t been crippled by growth, unlike the recent example of Nike’s own supply chain. Issues surrounding production integration meant that Nike had to partner with private equity firm Apollo Global Management LLC in order to combat the inefficiency that led to retailer complaints about product delays in 2015.
With larger budgets now being invested in procurement teams, there is a window of opportunity for young people. Although there are no strict prerequisites for a position in procurement we encourage anyone thinking about a career in procurement to be CIPS qualified.
Ready yourself to be handed a satisfyingly large amount of responsibility that somewhat unglamorous roles such as accountancy or consultancy don’t always provide. Being the one who pieces the chain together for their favourite brands is undoubtedly rewarding – companies such as Apple, H&M and Nestle are all known for being successful investors in their supply chains, meaning they are among many who recognise the significant commercial benefits of a procurement professional.
Therefore, job opportunities almost always present themselves in some of the biggest of businesses.  The average procurement salary has now reached £51,000, matching similar business roles. Procurement professionals are always at the top of their game when it comes to relationship management and mutuality, mastering the art of negotiation. Their interpersonal skills are matched by their analytical prowess.
If you believe you possess the foundations for these skills as well as having a strong understanding of the global market place, then an extremely powerful procurement role is for you. Not only does the role offer a highly desirable skill-set, a number of opportunities are also offered very early on in the career path. Even at entry level, you’ll be introduced to senior stakeholders who you’ll then work with, meaning doors start to be opened almost immediately.
The procurement link in the chain grants exposure to every sector of the business, meaning diversity in day-to-day activity. From working alongside a marketing team to having hundreds of thousands of pounds of a company’s budget at your disposal on their behalf, procurement utilises skills that are transferrable to an enormous spectrum of roles.
If a few years down the line it turns out an unsuitable job for you, what you have learned is still invaluable to other employment areas, making it easy to flex between jobs. However, many of those that join the procurement industry find themselves to be in such a rewarding role that they stick with it permanently, especially because of the travel opportunities that present themselves!
For more information about the Chartered Institute of Procurement and Supply visit cips.org.
> Liam Coulcher