Spend Matters Perspectives recently released its latest coverage of topics in the procurement world, this time the focus was on the value of certifications. As usual, Jason Busch does a fine job of writing comprehensive and comprehendible content to examine the landscape of talent in procurement. The research starts out with some very unexpected information:
Indeed, across industries, procurement skills are falling short of what organizations need to fully address the demands placed upon this increasingly slimmed-down function. Our research suggests that fewer than 10% of the procurement workforce in North America has a procurement certification or has gone through a formal degree program in supply management or a related field (e.g., operations research, supply chain management, etc.). And for many, on-the-job training is insufficient. As a result, many hiring managers cite the challenge of finding enough qualified candidates.
From what I read, it seemed that the interviews yielded a consistent result that the certification side of things had greatly improved over the years. Both the SPSM and CPSM had highly useful content that practitioners could use to build their knowledge base in supply management. I also agree with the report that increased salaries and certifications might not be directly related, because people that pursue certifications will be the groups more highly motivated to succeed and grow professionally. Of course, diversity of skills and capabilities will also improve your ability to do these things, as well.
The report also mentions training that is available from groups like ATK and Denali. I am sure these are very useful. It is the mixture of both that I believe will bear the real fruit for practitioners. When we do training for SmartSource, some of the most important time spent is building skills for category management and market making. The dynamics of a supply market mean everything and the collaborative (or singular) task of correctly assessing these factors are critical to developing a bid strategy that results in a positive sourcing outcome.
