{"id":2661,"date":"2009-04-29T16:20:00","date_gmt":"2009-04-29T16:20:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2009\/04\/29\/whitepaper-wednesday-procurement-skills-profit\/"},"modified":"2021-07-19T04:34:17","modified_gmt":"2021-07-19T08:34:17","slug":"whitepaper-wednesday-procurement-skills-profit","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-procurement-skills-profit\/","title":{"rendered":"Whitepaper Wednesday &#8211; Procurement Skills &amp; Profit"},"content":{"rendered":"<p>Welcome back to another installment of Whitepaper Wednesday here on the Purchasing Certification Blog. Today, I\u2019ll be reviewing a whitepaper entitled \u201cProcurement Skills &amp; Profit: The Correlation\u201d from Next Level Purchasing.<\/p>\n<p>Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/p>\n<p>The whitepaper begins with some questions:<\/p>\n<ul>\n<li>Does the average procurement professional with \u201chigh\u201d skill levels save $10,000 (US) per year more than the average procurement professional with \u201clow\u201d skill levels?<\/li>\n<li>$100,000?<\/li>\n<li>A million dollars or more?<\/li>\n<\/ul>\n<p>Those are the types of questions that I\u2019ve heard procurement and senior executives ask over and over. After all, what is it worth to a company to hire or develop top procurement talent?<\/p>\n<p>This whitepaper helps those executives answer those questions. It shares some research that identified a correlation between skill levels and savings and breaks down the average savings by skill level as a percentage of company annual revenue.<\/p>\n<p>The whitepaper provides formulas \u2013 and also links to an online tool \u2013 that helps an organization:<\/p>\n<ul>\n<li>Quantify its opportunity to improve profit through better procurement skills;<\/li>\n<li>Calculate the cost of procurement skills improvement;<\/li>\n<li>Determine the return on investment of improving procurement skills; and<\/li>\n<li>Identify the cost to the organization for leaving procurement skills as-is<\/li>\n<\/ul>\n<p>If you are a procurement leader and want to learn how you can improve your department\u2019s contribution to profit, please feel free to download this whitepaper from the Next Level Purchasing Web site (registration required).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome back to another installment of Whitepaper Wednesday here on [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4077,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Whitepaper Wednesday - Procurement Skills &amp; 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