No-one wants a T-Rex in the Procurement Department

I spent the last weekend binging all the Jurassic Park films slumber party style with my nieces. I’m not sure if it was the many, many hours of watching dinosaurs but I have been seeing them everywhere (not literally in real life to be clear, but online)

I logged into LinkedIn and have read around ten posts now about how procurement needs to be less of a dinosaur. I can’t help but have the image of hundreds of T-Rexs sitting at a desk unable to type due to their little arms!

I started to ponder on what animal Procurement should be like, and after watching one of the most magical documentaries of my life, My Octopus Teacher (hugely recommend a watch!) I realised that actually we as Procurement need to be more Octopus…

An octopus embodies agility and adaptability. With its multiple limbs and exceptional problem-solving skills, an octopus can swiftly navigate through complex environments. Similarly, modern procurement needs to be more like an octopus – flexible, quick, and capable of multitasking.

Embrace Digital Transformation
To shed its dinosaur-like image, procurement must fully embrace digital transformation. Implementing procurement software and automation tools can streamline processes, reduce paperwork, and enable real-time data analysis. This digital foundation empowers procurement professionals to make informed decisions quickly and efficiently.

Foster Supplier Collaboration
An octopus is known for its ability to reach out in various directions simultaneously. Likewise, procurement should focus on fostering strong relationships with suppliers. Collaboration and communication with suppliers can lead to innovative solutions, better negotiation outcomes, and a competitive edge.

Data-Driven Decision Making
Octopuses have a highly developed nervous system, allowing them to process information rapidly and make informed decisions. In the same vein, procurement should leverage data analytics to gain insights into spending patterns, supplier performance, and market trends. This data-driven approach enhances decision-making and strategic planning.

Agile Sourcing Strategies
Just as an octopus adapts its hunting techniques to different prey, procurement should adopt agile sourcing strategies. This involves diversifying the supply chain, exploring alternative sources, and being open to innovative procurement methods such as e-procurement and reverse auctions.

Supplier Risk Management
Octopuses use camouflage and ink clouds as defence mechanisms. Similarly, procurement should proactively manage supplier risks to protect the organisation from potential disruptions. This includes assessing supplier financial stability, geopolitical factors, and potential environmental impacts.

Sustainability and CSR
Octopuses are known for their ability to blend into their surroundings – a valuable lesson in sustainability for procurement. Integrating sustainable practices and Corporate Social Responsibility (CSR) considerations into procurement processes can not only improve a company’s reputation but also contribute to a more environmentally and socially conscious supply chain.

So there you have it – be more octopus!

Level 3 Diamond Timetable

Exam Series Module No. of sessions Dates
March 2024
M2 & M3
6
15th Jan, 29th Jan, 5th Feb, 19th Feb, 26th Feb, 4th Mar
May 2024
M4
3
15th Apr, 22nd Apr, 29th Apr
July 2024
M5
3
3rd June, 10th June, 24th June
Nov 2024
M1
3
7th Oct, 21st Oct, 4th November
Mar 2025
M2&M3
6
13th Jan, 20th Jan, 27th Jan, 10th Feb, 24th Feb, 3rd March
May 2025
M4
3
7th Apr, 14th Apr, 28th Apr
July 2025
M5
3
2nd June, 16th June, 30th June

Level 6 Diamond Timetable

Exam Series Module No. of sessions Dates
March 2024
M2 & M5
5
25th Jan, 1st Feb, 8th Feb, 22nd Feb, 29th Feb
May 2024
M4 & M7
4
18th April, 25th April, 2nd May, 9th May
July 2024
M3 & M8
5
30th May, 13th June,20th June, 27th June, 4th July
November 2024
M1
3
10th Oct, 24th Oct, 7th Nov
Mar 2025
M2 & M5
5
30th Jan, 6th Feb, 13th Feb, 27th Feb, 6th Mar
May 2025
M4 & M7
4
3rd April, 10th April, 1st May, 8th May
July 2025
M3 & M8
5
5th June, 12th June, 19th June, 26th June, 3rd July

Level 5 Diamond Timetable

Exam Series Module No. of sessions Dates
March 2024
M5, M15 & M9
4
31st Jan, 7th Feb, 21st Feb, 28th Feb, 6th March
May 2024
M3 & M8
4
10th April, 17th April, 24th April, 1st May
July 2024
M4
3
5th June, 12th June, 26th June
November 2024
M1 & M2
5
9th Oct, 16th Oct, 23rd Oct, 30th Oct, 6th Nov
Mar 2025
M15, M5, M9
5
29th Jan, 5th Feb, 12th Feb, 26th Feb, 5th March
May 2025
M3 & M8
4
9th April, 16th April, 30th April, 7th June
July 2025
M4
3
4th June, 18th June, 2nd July

Level 4 Diamond Timetable

Exam Series Module No. of sessions Dates
March 2024
M3, M5, M7
6
23rd Jan, 30th Jan, 6th Feb, 20th Feb, 27th Feb, 5th March
May 2024
M4 & M6
4
9th April, 16th April, 23rd April, 30th April
July 2024
M8
3
4th June, 18th June, 2nd July
November 2024
M1 & M2
5
8th Oct, 15th Oct, 22nd Oct, 29th Oct, 5th Nov
March 2025
M3, M5, M7
5
29th Jan, 5th Feb, 12th Feb, 26th Feb, 5th March
May 2025
M4 & M6
4
8th April, 15th April, 29th April, 6th June
July 2025
M8
3
10th June, 24th June, 8th July