Best Buyer Best Buyer Practices: How To Practices: How To Promote YourselfPromote Yourself
Richard Ponder, CPhT.Richard Ponder, CPhT.
Inventory CoordinatorInventory Coordinator
East Jefferson General HospitalEast Jefferson General Hospital
Metairie, LouisianaMetairie, Louisiana
12th Pharmacy Purchasing Networking Conference
August 12, 2008
ObjectiveObjective
Promoting your accomplishments to Promoting your accomplishments to achieve recognition and achieve recognition and advancement within your profession.advancement within your profession.
Do You Feel Like This?Do You Feel Like This?
Backorders
Allocations
New Products
Drawer Failures
797
Recalls
Factor
Contract Compliance
Our Image ProblemOur Image Problem Lack of Understanding: “We just order stuff.”Lack of Understanding: “We just order stuff.” Lack of Training: No formal training or real Lack of Training: No formal training or real
guidance, historically Buyers are placed in this guidance, historically Buyers are placed in this position because no one wanted the position or position because no one wanted the position or because they have been here the longest, or I’m because they have been here the longest, or I’m the Supervisor/Buyer.the Supervisor/Buyer.
Lack of Support: Top down as well as bottom up.Lack of Support: Top down as well as bottom up. Lack of Recognition: Continuously performs Lack of Recognition: Continuously performs
above expectations with independent judgment above expectations with independent judgment that decreases pharmacy expenditures while that decreases pharmacy expenditures while increases profitability.increases profitability.
Essential FunctionsEssential Functions
Inventory Inventory ManagementManagement
Project Project ManagementManagement
Quality AssuranceQuality Assurance Contract Contract
ManagementManagement Supply Chain Supply Chain
ManagementManagement ProcurementProcurement
ExpertiseProfit
Contribution
Value
Purchasing
Are you really under Are you really under compensated?compensated?
Your ResponseYour Response Your Manager’s Your Manager’s
ResponseResponse RealityReality Important FactorImportant Factor
YES!!!YES!!! No.No. Maybe.Maybe. What Can You What Can You
Prove?Prove?
How To Get What You How To Get What You WantWant
Right AttitudeRight Attitude Do More Than What is Do More Than What is
ExpectedExpected Continuously Expand Continuously Expand
Your KnowledgeYour Knowledge Define Your Goals And Define Your Goals And
Set Out to Accomplish Set Out to Accomplish Them.Them.
Assess Your Assess Your AccomplishmentsAccomplishments
NetworkNetwork Be ProactiveBe Proactive
Gather EvidenceGather Evidence Demonstrate a compelling business reason Demonstrate a compelling business reason
for additional compensation.for additional compensation. Document all of your responsibilities and Document all of your responsibilities and
accomplishments to date, focusing accomplishments to date, focusing specifically on how your efforts have helped specifically on how your efforts have helped the company achieve its goals, cut costs or the company achieve its goals, cut costs or increase productivity. increase productivity.
Gathering concrete evidence of your Gathering concrete evidence of your contributions, and being able to present this contributions, and being able to present this information in an organized manner, is information in an organized manner, is critical to positioning yourself as a valuable critical to positioning yourself as a valuable asset to your employer.asset to your employer.
Build Your Case Over TimeBuild Your Case Over Time
Despite his or her best intentions, your Despite his or her best intentions, your boss may not be aware of all the projects boss may not be aware of all the projects you've been involved with lately. To you've been involved with lately. To prevent your achievements from being prevent your achievements from being overlooked, consider providing your overlooked, consider providing your manager with a monthly status report manager with a monthly status report that summarizes the assignments you're that summarizes the assignments you're working on or have recently completed. working on or have recently completed. A record of consistent performance can A record of consistent performance can bolster your case for a raise.bolster your case for a raise.
BenchmarksBenchmarks Contract ComplianceContract Compliance Cost Savings Cost Savings Automation InitiativesAutomation Initiatives Formulary ComplianceFormulary Compliance Inventory TurnsInventory Turns Stock Out PercentagesStock Out Percentages Budget VariancesBudget Variances Professional DevelopmentProfessional Development
Professional Professional DevelopmentDevelopment
OrganizatOrganizationion
CertificationCertification Web SiteWeb Site CostCost
Institute for Institute for Supply Supply ManagementManagement
Certified Certified Professional in Professional in Supply Supply Management, Management, CPSMCPSM
www.ism.wswww.ism.ws $1350$1350
American American Purchasing Purchasing SocietySociety
Certified Certified Purchasing Purchasing Professional, CPPProfessional, CPP
www.americawww.american-purchasing.n-purchasing.comcom
$1025$1025
The The Association Association for for Operations Operations ManagementManagement
Certified Supply Certified Supply Chain Professional, Chain Professional, CSCPCSCP
www.apics.orwww.apics.orgg
$1395$1395
Universities; Universities; Louisiana Louisiana State State UniversityUniversity
Purchasing and Purchasing and Supply Supply Management Management CertificateCertificate
www.lsu.eduwww.lsu.edu $1136$1136
Research the Going RateResearch the Going Rate
Another important step is to investigate how Another important step is to investigate how much others in your area and with similar much others in your area and with similar qualifications are being paid. qualifications are being paid.
Online services, such as Salary.com and the Online services, such as Salary.com and the U.S. Department of Labor's Occupational U.S. Department of Labor's Occupational Outlook Handbook (http://stats.bls.gov/oco/) Outlook Handbook (http://stats.bls.gov/oco/) are excellent resources. are excellent resources.
Estimating your worth on the open market Estimating your worth on the open market will ensure you don't undersell or oversell will ensure you don't undersell or oversell your services.your services.
According to Pharmacy Purchasing According to Pharmacy Purchasing Outlook’s 2008 Buyer Wage and Task Outlook’s 2008 Buyer Wage and Task Survey, the average annual salary for Survey, the average annual salary for
a Pharmacy Buyer is…a Pharmacy Buyer is…
$39,296.00$39,296.00
ISM 2007 Buyer Salary ISM 2007 Buyer Salary SurveySurvey
Education: Bachelor Education: Bachelor $76,62$76,6233
Education: MasterEducation: Master $84,51$84,5166
Certification: CPSMCertification: CPSM $90,30$90,3022
Certification: OtherCertification: Other $101,4$101,47575
Industry: HealthcareIndustry: Healthcare $89,71$89,7144
Title and Commodity: Buyer / Title and Commodity: Buyer / HealthcareHealthcare
$69,60$69,6000
Title and Dollar Spend: Buyer / 11-Title and Dollar Spend: Buyer / 11-39.9 million39.9 million
$62,60$62,6000
Total Employees: 2001-5000Total Employees: 2001-5000 $87,04$87,0411
Average of the above range: $85,372Average of the above range: $85,372
Be TactfulBe Tactful
While the most logical time to discuss a raise While the most logical time to discuss a raise is during your performance review, it could is during your performance review, it could be advantageous to speak with your be advantageous to speak with your supervisor about the issue before your next supervisor about the issue before your next evaluation.evaluation.
You might consider initiating a conversation You might consider initiating a conversation upon the successful completion of a major upon the successful completion of a major project.project.
You will want to wait a while if the company You will want to wait a while if the company has just announced a quarterly loss in has just announced a quarterly loss in revenue or layoffs.revenue or layoffs.
Negotiations BeginNegotiations Begin Be PersuasiveBe Persuasive Aim High, and Be RealisticAim High, and Be Realistic Start Off with the Right ToneStart Off with the Right Tone Clarify Your InterestsClarify Your Interests Anticipate Your Boss's InterestsAnticipate Your Boss's Interests Create Several OptionsCreate Several Options Focus on Objective CriteriaFocus on Objective Criteria Think Through Your AlternativesThink Through Your Alternatives Prepare Thoughtfully to Achieve Your Prepare Thoughtfully to Achieve Your
GoalsGoals
Prepare a Fallback PlanPrepare a Fallback Plan
If a pay raise is not in your employer's If a pay raise is not in your employer's budget, consider negotiating other budget, consider negotiating other benefits such as more vacation time, a benefits such as more vacation time, a flexible schedule, and/or a larger flexible schedule, and/or a larger performance-based bonus or increased performance-based bonus or increased stock options. stock options.
If these requests are denied, ask your If these requests are denied, ask your boss how to best position yourself for a boss how to best position yourself for a future raise and arrange a date for a future raise and arrange a date for a follow-up review to discuss your progress follow-up review to discuss your progress toward this goal. toward this goal.
ConclusionConclusion
Like any negotiation, securing a Like any negotiation, securing a raise requires preparation and raise requires preparation and finesse. But taking the time and finesse. But taking the time and effort to craft a compelling case and effort to craft a compelling case and make your value to the company make your value to the company clear will increase your chances of clear will increase your chances of getting paid what you feel you are getting paid what you feel you are worth.worth.
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