Graduate Assessment Category Procurement Intelligence Report

Several macro changes in the dynamics of overall HR Services as well as Graduate Assessment procurement trends are poised to change the business practices and procurement thumb rules. Even though global population is increasing, the availability of adequately trained talent pool is reducing in many geographies. Lack of skilled in-house manpower continues to be the largest factor for hiring of Graduate Assessment. Companies are designing processes where the internal talent can work on the most value-adding activities and all non-core activities can be handed over to a third-party.

People analytics has emerged as a rather new branch of HR function with an aim to gain deeper insights into an employee's behavior, motivators, risk of attrition and general wellbeing. There is a high demand for suppliers who can integrated technology in traditional processes to generate insights on the buyers' talent pool.

Changing workforce demographics are creating challenges in identifying the right talent mix and processes that can keep the talent pool motivated and satisfied with their work.

Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.

Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Graduate Assessment procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Besides shortlisting potential suppliers based on services offered and cost, they also need to be evaluated against several other critical parameters. Some examples of these parameters are compliance with laws and regulations, capability to protect personally identifiable information and technical standards adopted (e.g. user interface, user exchange standards, data exchange standards). RFPs soliciting the above information ensures competition among suppliers and facilitates efficient evaluation.

Buyers should engage with suppliers that automate the process of handling any claims or requests through cloud-based software. Once initiated by an employee of buyer organization, suppliers' staff or the system itself can provide guidance for next steps. All necessary stakeholders can check the real-time status through web-based platform and take actions accordingly.

Buyers must constantly communicate with service providers to provide them with better knowledge about buyer's goals and visions, which enables service providers to formulate customized plans and processes for the organization. Strategic partnerships with service providers enable buyers to have visibility into the latest technological innovations and cost-saving levers adopted in the market.

Graduate Assessment procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Graduate Assessment procurement. Some examples include: