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 under Are you under compensated?compensated?

YES!YES!

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.