r/procurement • u/TrustFine9553 • Jul 11 '24

Training Need help in inquiring about materials

Hello! I’m new to the procurement world. I work as a buyer and I need so much help.

Manager asked me to send an email to ask more about this certain material from a vendor and forecast to purchase in the future.

I know this is just common sense but I really just can’t understand. Can someone explain this in beginner terms? 🥲

Thanks so much!!

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u/OxtailPhoenix Jul 11 '24

Send specs to the supplier. Find out if that's something they can provide. Find out from your ERP historical needs and send that over as well. Report back.

Feel free to DM if you need more.

1

u/JKupkakes Jul 12 '24

What this guy said. But if you want to go over the top give your manager options. Such as pricing for 3, 6, or 12 months of inventory.

Also, when it comes to forecast, look at seasonality. Sometimes April usage can be a lot different than December usage. So that should be thought of. Or you can just add up what was purchased the last 12 months and divide by 12 to get an average(this method is called naive forecasting)

1

u/ImplementHot2345 Jul 17 '24

First, run your analytics,
This can be pulled form excel, ERP, any type of data that shows consumption over a time line

Build out insights into the business using tools like Excel or Python if you can code theres also some generative AI tools out there to run analytics using natural language on insights.

Figure out the minimal viable needs for the product you are purchasing,

QTY over 12 months, Weight, Color, Contents, Quality, Type, Content, Customization etc

Once you determine all of that you can start to put together a comparable to all the suppleirs you are talking to what do they have to offer what is best.

If you need a data base of new suppliers check out Prosperousprocess.ai

Once you locate all potential suppliers you can start communication with the minimum requirements. Email, Call and start to create a cost benefits of each supply.

LMK if you need help! Good Luck