Contract Negotiation Handbook Named Book of the Month by NCMA
The obviously very astute, intelligent, and wise folks at the National Contract Management Association named my Contract Negotiation Handbook their book of the month. That's quite a personal honor for me, getting recognition from such a venerable institution! My thanks and gratitude go out to NCMA for their recognition.
Congrats Stephen!
~Jeff
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Jeff,
From a fellow NCMA book-of-the-monther, I appreciate that!
Stephen
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Congrats Stephen
Charlie
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Congratulations. I downloaded your book from Lulu.com last week and have been enjoying reading it.
I'm a corporate and commercial attorney who lives in the DC area. I've always worked on the "sell side" of technology transactions, particularly for software developers. I'd never given much thought to procurement until I discovered your blog last month. Your writing has been very illuminating for me.
I’m curious how one breaks into a career in technology procurement. Does having a law degree and experience in commercial legal practice make for a more desirable procurement professional? Is there training or a particular credential that companies look for in hiring procurement personnel? Given current economic conditions, is looking to make a transition into procurement right now even a worthwhile thing to do?
Any insights you could share would be greatly appreciated. Thanks!
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David,
Thanks for buying the book and I'm glad you're enjoying it! The timing is perfect for transitioning into any commodity of procurement, such as technology, plus you have a background that lends itself well to that area of procurement. It's my opinion that having sales experience, be it actual sales or sales support, provides a unique advantage to a procurement pro (I used to be in sales support at Dell). Regarding the timing, a down economy is when business start looking more to procurement than sales to really impact the bottom line. I'm generalizing, but that's frequently the case where businesses can't drive more sales (due to the economy) and seek to reduce expenses to improve margins. The other good news is that it is fast becoming a buyer's market in many commodities, and you should be able to show some impressive savings and work some extremely favorable deals while at the same time cutting your teeth for when the market flip-flops back to a seller's market (and deals become really tough to negotiate).
Having a law degree and commercial legal experience is highly relevant to procurement these days. I'm more and more beginning to see high-level procurement positions require (or at least "prefer") a J.D. For instance, I have a new position I've created at my employer called the "Procurement Contracts Counsel" position. It requires a J.D. and two procurement certifications. For technology procurement, I highly recommend Caucus and their Certified Technology Procurement Executive certification. The "gold" standard certification for purchasing in general is the Certified Professional in Supply Management from the highly-respected Institute for Supply Management.
Making the switch isn't difficult, you'll just have to find an enlightened employer. I recently hired an attorney with limited procurement experience who has, as I predicted at the time, turned out to be a super hire. Since you're in the DC area, you may want to consider an association as an employer versus a high-tech company (are there any left?) on the VA side of the Potomac. Associations with business as members (versus individuals) are an ideal place to work as a procurement pro because you occasionally get involved in member deals (and therefore gain more valuable experience).
I hope this helps.
Regards,
Stephen
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Thank you, Stephen. That's very helpful. I've never heard of Caucus before, and looking at associations hadn't occurred to me.
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