Best Buyer Practices: How To Promote Yourself Richard Ponder, CPhT. Inventory Coordinator East Jefferson General Hospital Metairie, Louisiana 12 th Pharmacy Purchasing Networking Conference August 12, 2008

Objective Promoting your accomplishments to achieve recognition and advancement within your profession. Promoting your accomplishments to achieve recognition and advancement within your profession.

Do You Feel Like This? Backorders Allocations New Products Drawer Failures 797 Recalls Factor Contract Compliance

Our Image Problem Lack of Understanding: “We just order stuff.” Lack of Understanding: “We just order stuff.” Lack of Training: No formal training or real guidance, historically Buyers are placed in this position because no one wanted the position or because they have been here the longest, or I’m the Supervisor/Buyer. Lack of Training: No formal training or real guidance, historically Buyers are placed in this position because no one wanted the position or because they have been here the longest, or I’m 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 above expectations with independent judgment that decreases pharmacy expenditures while increases profitability. Lack of Recognition: Continuously performs above expectations with independent judgment that decreases pharmacy expenditures while increases profitability.

Essential Functions Inventory Management Project Management Quality Assurance Contract Management Supply Chain Management Procurement Purchasing Value Profit Contribution Expertise

Are you under compensated?

YES!

Are you really under compensated? Your Response Your Response Your Manager’s Response Your Manager’s Response Reality Reality Important Factor Important Factor YES!!! No. Maybe. What Can You Prove?

How To Get What You Want Right Attitude Do More Than What is Expected Continuously Expand Your Knowledge Define Your Goals And Set Out to Accomplish Them. Assess Your Accomplishments Network Be Proactive

Gather Evidence Demonstrate a compelling business reason for additional compensation. Demonstrate a compelling business reason for additional compensation. Document all of your responsibilities and accomplishments to date, focusing specifically on how your efforts have helped the company achieve its goals, cut costs or increase productivity. Document all of your responsibilities and accomplishments to date, focusing specifically on how your efforts have helped the company achieve its goals, cut costs or increase productivity. Gathering concrete evidence of your contributions, and being able to present this information in an organized manner, is critical to positioning yourself as a valuable asset to your employer. Gathering concrete evidence of your contributions, and being able to present this information in an organized manner, is critical to positioning yourself as a valuable asset to your employer.

Build Your Case Over Time Despite his or her best intentions, your boss may not be aware of all the projects you've been involved with lately. To prevent your achievements from being overlooked, consider providing your manager with a monthly status report that summarizes the assignments you're working on or have recently completed. A record of consistent performance can bolster your case for a raise. Despite his or her best intentions, your boss may not be aware of all the projects you've been involved with lately. To prevent your achievements from being overlooked, consider providing your manager with a monthly status report that summarizes the assignments you're working on or have recently completed. A record of consistent performance can bolster your case for a raise.

Benchmarks Contract Compliance Contract Compliance Cost Savings Cost Savings Automation Initiatives Automation Initiatives Formulary Compliance Formulary Compliance Inventory Turns Inventory Turns Stock Out Percentages Stock Out Percentages Budget Variances Budget Variances Professional Development Professional Development

Professional Development OrganizationCertification Web Site Cost Institute for Supply Management Certified Professional in Supply Management, CPSM $1350 American Purchasing Society Certified Purchasing Professional, CPP purchasing.com purchasing.com $1025 The Association for Operations Management Certified Supply Chain Professional, CSCP $1395 Universities; Louisiana State University Purchasing and Supply Management Certificate $1136

Research the Going Rate Another important step is to investigate how much others in your area and with similar qualifications are being paid. Another important step is to investigate how much others in your area and with similar qualifications are being paid. Online services, such as Salary.com and the U.S. Department of Labor's Occupational Outlook Handbook ( are excellent resources. Online services, such as Salary.com and the U.S. Department of Labor's Occupational Outlook Handbook ( are excellent resources. Estimating your worth on the open market will ensure you don't undersell or oversell your services. Estimating your worth on the open market will ensure you don't undersell or oversell your services.

According to Pharmacy Purchasing Outlook’s 2008 Buyer Wage and Task Survey, the average annual salary for a Pharmacy Buyer is… $39,296.00

ISM 2007 Buyer Salary Survey Education: Bachelor $76,623 Education: Master $84,516 Certification: CPSM $90,302 Certification: Other $101,475 Industry: Healthcare $89,714 Title and Commodity: Buyer / Healthcare $69,600 Title and Dollar Spend: Buyer / million $62,600 Total Employees: $87,041 Average of the above range: $85,372

Be Tactful While the most logical time to discuss a raise is during your performance review, it could be advantageous to speak with your supervisor about the issue before your next evaluation. While the most logical time to discuss a raise is during your performance review, it could be advantageous to speak with your supervisor about the issue before your next evaluation. You might consider initiating a conversation upon the successful completion of a major project. You might consider initiating a conversation upon the successful completion of a major project. You will want to wait a while if the company has just announced a quarterly loss in revenue or layoffs. You will want to wait a while if the company has just announced a quarterly loss in revenue or layoffs.

Negotiations Begin Be Persuasive Be Persuasive Aim High, and Be Realistic Aim High, and Be Realistic Start Off with the Right Tone Start Off with the Right Tone Clarify Your Interests Clarify Your Interests Anticipate Your Boss's Interests Anticipate Your Boss's Interests Create Several Options Create Several Options Focus on Objective Criteria Focus on Objective Criteria Think Through Your Alternatives Think Through Your Alternatives Prepare Thoughtfully to Achieve Your Goals Prepare Thoughtfully to Achieve Your Goals

Prepare a Fallback Plan If a pay raise is not in your employer's budget, consider negotiating other benefits such as more vacation time, a flexible schedule, and/or a larger performance-based bonus or increased stock options. If a pay raise is not in your employer's budget, consider negotiating other benefits such as more vacation time, a flexible schedule, and/or a larger performance-based bonus or increased stock options. If these requests are denied, ask your boss how to best position yourself for a future raise and arrange a date for a follow-up review to discuss your progress toward this goal. If these requests are denied, ask your boss how to best position yourself for a future raise and arrange a date for a follow-up review to discuss your progress toward this goal.

Conclusion Like any negotiation, securing a raise requires preparation and finesse. But taking the time and effort to craft a compelling case and make your value to the company clear will increase your chances of getting paid what you feel you are worth. Like any negotiation, securing a raise requires preparation and finesse. But taking the time and effort to craft a compelling case and make your value to the company clear will increase your chances of getting paid what you feel you are worth.