Entering the world of government contracting requires considerable effort and education on the complicated process. Once you’ve overcome all of the hurdles and secured your first government contract, you may find you’ll require additional assistance to fulfill the job, which usually requires subcontracting.

Before you begin your search for the appropriate subcontractors, you’ll want to review the applicable regulations and compliance requirements. With the Department of Defense being one of the largest agencies issuing the greatest value of contracts, we’ll be focusing primarily on the Defense Contract Audit Agency (DCAA) for compliance details. Defense contract audits are required to be performed in accordance with Government Auditing Standards.

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Credits: spendmatters.com

“Tactical and reactive” is how Richard Powell, FCIPS would describe the procurement function when he began his career 25 years ago, then working in the manufacturing industry. “My role was mainly to respond to demand from the factory,” he recalls. “When I started to reduce the cost of the materials I would buy, the business suddenly started to take notice.”

As the economy has shifted – particularly in the UK – away from manufacturing and into the services sector, with business functions increasingly outsourced, Powell has noticed a shift in the scale of buying and the emphasis on supplier relationship management in order to maintain value for an organisation, as well as bringing innovation and competitive advantage, has grown. “Over that time as well, procurement has professionalised significantly both professionally and academically,” Powell adds.

Far from an administrative and reactive back-office function nowadays, what then does Powell feel are the main skills for today’s procurement professionals? “The critical skill is relationships skills – it’s core for procurement professionals to understand the goals and objectives of the business and match up with the capabilities of the market.” This relationship building between three key elements – the internal stakeholder or client; the supplier; and the procurement function – requires the following element, according to Powell: “listening, bringing objectivity, listening, finding solutions, listening, using your imagination and, of course, a bit more listening”.

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Credits: supplychaindigital.com