Tag Archives: procurement education

Back to School: Continuing Education Is Your Path to Success

Tired of being passed up for promotion? Want to further your career? Maybe it’s time for you to go back to school and continue your education.

education

So you spent your four years in university, got that business diploma, and got a job. Now what? Of course you can stay at the job you have and continue to improve your skills in the world of business. But as every aspect of business is constantly changing, many people with a bachelor’s degree may find themselves passed over for promotions because the ideal candidate has more education.

The simple fact is that the true path to success in any field is continuing education. Nowhere is this more true than in the business sector. Whether you’re working in finance or some other sector of the business realm, the importance of an MBA can’t be overlooked.

The good news is that getting that MBA is easier today than it’s ever been thanks to online courses from reputable universities with educators who know business administration inside and out. If you’d like to learn more about how working toward that MBA can improve your professional life read on to see just how impactful that degree can be.

Increased Salary

The most impactful reason to pursue an MBA is the simple fact that you’ll be more desirable to employers, and you can ask for and get an increase in salary. Depending on your chosen field, this can be in the range of 25-50 per cent more than you’re currently making.

Following the initial increase in salary, you can also expect to earn more over your lifetime with an MBA than if you stopped after earning a bachelor’s degree. It just makes good financial sense, especially if you plan to start a family.

More Opportunities Abroad

The business world isn’t limited to the United States. Business and financial hubs around the world like Hong Kong, Dubai, London, and Taipei are filled with companies eager to hire intelligent, dedicated employees. But there is a caveat. Most of these international companies all but require a master’s degree to even get a foot in the door.

Working abroad not benefits you culturally, it adds an impressive column to your CV. Additionally, in some countries, taking a job there can mean significant tax breaks. It’s for this reason that many people with advanced degrees now choose to work and live abroad.

You’re Not Limited to the Business Sector

Another great aspect of an MBA is that you’re not limited one particular industry. Finance, health care, education, and government are all eager to hire people with advanced degrees for a number of positions.

One of the key factors of the degree itself is that you’ll have the chance to choose sub-specialties. These areas of focus can put you in a better position to move toward other job opportunities. For many graduates this means they’ll be in a position to branch out and explore more varied job opportunities.

Increased Networking Opportunities

Many people say that, in the business world, it’s all about who you know and, in many ways, it’s true. An undergraduate degree in business and the process behind it doesn’t give you access to true business experts in the way that an MBA programme does. The connections that you’ll make during your MBA courses could prove to be very valuable.

Many educators who teach MBA courses do so in addition to regular jobs in the business world. If you’re a standout student and make the effort to meet and talk with your professors and their colleagues, you can find yourself in a great position when it comes time to ask for references and update your CV.

Taking the time to further one’s career through continuing education can seem like a daunting and time consuming task. However, many people who have taken the MBA plunge have found the hard work pays off in a big way.

There are so many types of MBA programme available, so do some research, decide which one is right for you, and start cracking books again. The rewards can be better than you expect.

Tiffany Rowe is a marketing administrator who assists in contributing resourceful content throughout the World Wide Web. Tiffany prides herself in her strong ability to provide high quality content that readers will find valuable.

Why Wait? Come to Training in Your Pyjamas

Have you ever had that nightmare where you’re wearing your pyjamas in class? With new training from ISM, your nightmare can be a reality (in a good way!).

Training in Pyjamas

I’m in training. I’ve got my laptop open on the table in front of me, a nice warm drink, and I’m waiting for the trainer to appear. A striking-looking instructor comes into view, walking slowly and deliberately in heels.

She’s wearing her ginger-coloured hair pulled back in a ponytail, quite a lot of blue eyeshadow and vivid red lipstick. She appears to have had eyelash extensions.

I sit up a bit straighter in my chair, before glancing down and realising with a shock that I’m wearing my pyjamas.

What is Micro-Learning?

But that’s okay, because it’s 9pm and I’m comfortably ensconced in a warm study in my own home. The kids have finally gone to bed and the dishes are done, so I’ve taken the opportunity to squeeze in one of ISM’s Just-in-Time Learning sessions, led by a flame-haired, animated instructor.

I’ve chosen a session called “Sourcing Strategy based on Forecasted Data”. At 8 minutes and 30 seconds, it removes my usual excuse about being too time-poor to invest in training. According to ISM’s Senior VP of Programs and Product Development M.L. Peck, this is what micro-learning is all about.

“People are craving content that address specific needs at specific times”, says Peck. “Micro-learning takes a ‘just-for-me, just-in-time, and just-enough’ approach”.

Training Essentials

This works for me, as my attention span seems to be diminishing rapidly as I grow older. The animated instructor’s voice has a slightly robotic quality, but she’s convincing enough.

She moves around the screen, gesticulating with one hands with the other resting on her hip. She (I’m not sure if the instructor has a name) even blinks and waggles her eyebrows as she drives each point home.

The instructor rapidly takes me through the advantages and disadvantages of the various types of sourcing – spot buying, buying to requirements, forward buying and speculative buying. As she talks, animated graphics appear and disappear next to her.

The content itself is drawn from ISM’s impressive global network of subject matter experts, who have created a remarkable library of digital knowledge.

The animation is interspersed with a video of Kevin from ISM, a (human) instructor who gives a real-world example of a restaurant owner who uses each of the four buying types as circumstances demand.

Sharing Essential Skills & Knowledge

Each Just-in-Time learning video has a different style. Some feature animated characters such as this, while others are led entirely by real instructors.

There are whiteboard animations, live interviews with executives and leaders in the profession, short lectures from industry experts, fun activities, games and flashcards.

This style of learning isn’t designed to be a deep-dive, but is a fast and effective overview of essential procurement skills and knowledge. Viewers can choose to explore further through eISM’s Guided Learning and Self-Paced learning options.

This particular video, however, is packed with fast facts, statistics, definitions from the ISM Glossary. It also includes real-world examples about sourcing strategies. By the end of the eight-and-a-half minute video, I have three pages of notes.

And what’s more, I even have time to sneak in another training video before my drink goes cold!

Learn More (in Pyjamas if you Want!)

Procurious now hosts three of the eISM Just-in-Time learning videos here on the website. Simply click on the “Learning” tab, or follow the links below to view:

For the full suite of eISM learning options, visit the ISM website.

An education in supply chain management

This week we shine a light on Nils van de Winkel – a Procurious member who’s decided to incorporate the network into his studies. Without further ado we’re handing the floor over to Nils so he can tell you more about himself…

Nils van de Winkel talks about procurement in education

Procurious asks: What attracted you to the profession when you were originally settling on an area of study?

Nils: My interest in supply chain management and procurement in particular has been shaped by two key events during my business studies.

The first was the practical insights gained into the global workings of supply chain management whilst studying a semester in Indonesia for my bachelor in international business and management.

The second was an internship with the Dutch Chamber of Commerce in Bangkok where I was exposed to the aftermath of the 2011 monsoon floods. Many companies with direct or indirect links were adversely affected. Through information sharing seminars it became strikingly clear how companies with supply chain risk management processes accomplished to mitigate disruptions. 

Procurious: How much focus is there on supply chain management and procurement in general business studies?

Nils: In my bachelor program the main focus was on finance, marketing and intercultural aspects of global business operations. It has been more so during my master program that I have gained deeper insights into specific functions of supply chain management. Procurement in specific has not had a deep focus, however important areas such as negotiations and drawing up contracts has had a great deal of attention.

Most interestingly I found that in business studies Porter has an important place. His Value Chain model (Porter, 1985) has received considerable attention throughout both my bachelor and master degree. This model was mainly used to analyse a firm’s activities and compare these with competitors to identify competitive advantages and guide strategic planning. Procurement is depicted as an important support function together with accounting, financial planning and human resource management. Given the importance of the procurement function, as this model acknowledges, I find it surprising that there was quite little focus on procurement during my bachelor and master degree compared to finance, marketing and human resources.

Value Chain model (Porter, 1985)

Procurious: Tell us a little bit more about your thesis, and what you hope to achieve with it.

Nils: As part of the GGSB MIB program a thesis is to be completed during your second academic year whilst employed. As a result of the exposure from my internship with the Dutch Chamber of Commerce my research will take place within the field of supply chain risk management. The focus will be on the purchasing function and how these professionals contribute to risk assessments, creation of contingency plans, and risk management.

My goal is to provide an overview of how procurement professionals have evolved in their risk assessment, creation of contingency plans, and risk management over the past decade. In addition to this I hope to identify whether there been a shift in the importance placed on certain risk categories.

Why did you join Procurious?

Nils: [Procurious member] Matthieu Baril, a GGSB alumnus, introduced me to the platform and explained its potential. So far I’m definitely not disappointed. My belief is that the best way to learn is through the experiences of others. Procurious gives the ability to see what professionals are doing and on which issues they are focussing. These types of insights are difficult to obtain without a social network specified for this field. The exposure, ability to discuss and ask questions greatly enhances ones understanding at a speed that otherwise would not be possible.

How are you using online networks [like Procurious] to help in your studies? 

Nils: Firstly, in the beginning stage of my research in order to gain a practitioner’s insight into the risks that they feel are underestimated in their business and industry as well as how their perception of risks have changed over the past decade. This will help me frame my research and will ensure that the findings are of value to practitioners.

Secondly, in the later stages of my research I hope to test and validate my theories through interviews with business leaders. 

Procurious: Do you think it’s important to make a name for yourself in the social space?

Nils: Over the past year I have come across great examples of young professionals that have built strong personal brands through blogs and social networks, which set them apart in a competitive job market. Social networks have made it much easier to build a strong online identity to reinforce and market your knowledge and competencies. 

Procurious: Let’s turn this on its head… If you were the tutor would you make any particular recommendations to your students? 

Nils: In order to gain most from your studies it is important to relate theory to practice. As it is difficult to have a qualified job alongside full-time studies it can help to have discussions with practitioners as well as stay up to date with industry progress through company reports and other sorts of content.

One of these different content formats has been the valuable rise of online learning. There are great online classes such as Procurious’ Learning page that discusses a wide variety of topics, which can help in courses and general skill development.

So far I’ve already seen two master students that are using Procurious to gain insights from professionals. I hope to be able to reach out to people in time to come as well in order to gain a more thorough understanding of their approaches to risk management.

Procurious: Do you think enough is being done to promote procurement as a profession?

Nils: From the direction that I have come there was little promotion for procurement. Looking at my bachelor program today I see that supply chain management has received somewhat more attention. However, general business studies still tend to be more geared towards specific finance, marketing, and human resources functions.

Then again, there are a reasonable amount of programs specifically focusing on supply chain management where I presume that the profession of procurement receives ample focus. 

Procurious: How do you envisage securing your first job in procurement?

Nils: My goal is to gain hands-on experience and an understanding of how internal processes are created to assist in supply chain risk management. Through professionals I hope to come in contact with companies that place an emphasis on its procurement department.

Procurious: What’s your advice for younger students who show an interest in procurement and supply chain management?

Nils: Go out and talk to people. So far I have noticed that professionals in the field of procurement are very open and willing to share their experiences over a cup of coffee. Even through platforms such as Procurious it is easy to connect and have conversations with professionals from all over the world in order to get a deeper understanding of the specific activities in procurement.