Last updated on Jul 7, 2024

Here's how you can secure a salary raise after achieving significant results in Supplier Sourcing.

After demonstrating your prowess in supplier sourcing and contributing to the bottom line, you may find yourself in a prime position to negotiate a higher salary. Supplier sourcing, the process of identifying, evaluating, and contracting suppliers to acquire goods and services, is a critical component in any business's supply chain management. Your success in this area can significantly impact your company's cost savings and operational efficiency. By leveraging your achievements, you can make a compelling case for a salary raise.

1 Track Success

Document your achievements in supplier sourcing meticulously. Have you negotiated better terms with suppliers, diversified the supplier base, or implemented cost-saving strategies that positively impacted the bottom line? Concrete examples of how your work has led to tangible improvements are vital. Keep a record of all successful negotiations, contracts that you've improved, and any recognition you've received for your work. This evidence will be indispensable when you present your case for a raise.

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harshit gupta

Procurement professional- Global Sourcing, Tendering, Contracts, Negotiator par excellence. Incharge of P2P process
1. Data- YOY comparison to present your case of COST REDUCTION. 2. Supplier evaluation- rejections being less, timely performance. Indicators to say that timely performance leading to better TAT. 3. Gradual implementation of same vendor to other plants/warehouses- outlining success ratio
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Shridhar Mendigeri

|Global Sourcing |Procurement | Strategic Sourcing | Vendor Management | SCM | Negotiator|Data Analytics|
Track Success: Meticulously document your achievements in supplier sourcing. This includes: Negotiations: If you have negotiated better terms with suppliers, keep detailed records of these agreements. Diversification: Document efforts to diversify the supplier base, including details about new suppliers brought on board and their impact. Cost-Saving Strategies: Record any cost-saving strategies implemented and their financial impact.
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2 Know Your Worth

Research the market to understand the value of your skills. Look at salary benchmarks for supplier sourcing professionals with similar experience and responsibilities in your industry. This will give you an idea of what you can realistically ask for. Don't forget to consider the financial health and pay structures of your organization. Being armed with this knowledge will help you to negotiate confidently and ensure that your salary request is in line with industry standards.

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Wasim Azeez

IT Strategic Sourcing Category Manager @ Intel Corporation | Certified Procurement Professional
Agree with this as most of us fail to do the benchmark. Year on year constantly perform market research based on skills you have acquired during year through various portals available. This helps in planning our conversation during review cycles. It works both ways sometime you may be paid higher than market so that’s an opportunity to enhance our skills and demonstrate true value and worth we are for organisations.
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3 Timing Matters

Choose the right time to ask for a raise. Ideally, this should be after the successful completion of a major project or during a performance review cycle. Timing your request when the company is celebrating a win or when you've just delivered significant value increases the chances of a favorable response. Be mindful of the company's financial cycle too; it's best to avoid times when budgets are tight or the company is facing financial challenges.

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4 Strategic Dialogue

When initiating the conversation about a raise, approach it strategically. Start by expressing your commitment to the company and enthusiasm for your role. Highlight your achievements in supplier sourcing and how they've benefited the company. Be clear about your salary expectations but remain open to dialogue. Remember, negotiation is a two-way street; it's about finding a balance between your worth and what the company can offer.

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5 Offer Solutions

Be prepared to offer solutions if there's initial resistance to a salary increase. Perhaps you could take on additional responsibilities or lead a project that could bring more value to the company. Demonstrating your willingness to contribute more can show your employer that you're invested in the company's success and deserving of the raise you're asking for.

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6 Follow Up

After the meeting, follow up with a thank you note reiterating your key points and appreciation for considering your request. If you received a positive response, ensure that the agreed-upon raise is documented and followed through. If the answer was negative or non-committal, ask for feedback and what you can do to be considered for a raise in the future. Keep the dialogue open and continue to build on your successes.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Here's how you can secure a salary raise after achieving significant results in Supplier Sourcing.

1

2

3

4

5

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1 Track Success

2 Know Your Worth

3 Timing Matters

4 Strategic Dialogue

5 Offer Solutions

6 Follow Up

7 Here’s what else to consider

Supplier Sourcing

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Here's how you can secure a salary raise after achieving significant results in Supplier Sourcing.

1

2

3

4

5

6

7

1 Track Success

2 Know Your Worth

3 Timing Matters

4 Strategic Dialogue

5 Offer Solutions

6 Follow Up

7 Here’s what else to consider

Supplier Sourcing

Rate this article

Thanks for your feedback

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