The Year of the Monkey in Procurement

As per the Chinese zodiac, each year is symbolized by an animal & an element which define the characteristics that the year will belong too. With the first sun rays of February 8th2016, the Year of the Monkey dawned with the associated element of Fire.

Monkeys are known to be curious, innovative, witty, selfish, short-tempered, wise leaders & agile. And Fire drives in aggression. The responsibilities of procurement professionals are changing from tactical to strategic and thus all of these characteristics are a need of the hour in the procurement scenario.

So what does the Year of the Monkey require us to do?

1. Clean your house — As a person each one of us cleans our house with dedication. The same must be replicated within our procurement processes. Review your current processes and bring in efficient tweaks
2. Be bold — Innovation in procurement is a critical aspect. Every CPO is looking to innovate. As you review your processes, you will notice areas of improvement and places where you could innovate and help the entire team. So take that step and present your idea
3. Take Red Envelopes — A red envelope of money is considered as a sign of prosperity. In a similar scenario, elevate your skill by acquiring relevant certifications to aid your procurement career
4. Be intelligently wise — As a 2016 professional, you are required to be agile & witty at the same time. According to a recent study by Ardent Partners, implementing a new or improved technology is perceived as a critical driver to get a procurement team’s performance to the next level

With the start of the New Year, we should try to be inspired by the characteristics of the monkey to bring about the changes in our daily procurement process to achieve the new heights of success.

Wishing each reader Gōngxǐ fācái(Happiness & Prosperity)!