The General Data Protection Regulation (GDPR) was implemented on 25 May 2018 and replaced the 1995 EU Data Protection Directive. The new regulation also supersedes the UK Data Protection Act of 1998. Organisations that store and process personal data fall under the new regulation, so it also affects procurement.
Why do procurement professionals need to know more about GDPR?
Recruitment experts believe that, with the implementation of the GDPR, contracts that were signed with suppliers and vendors before 25 May 2018 will now have to be reviewed and revised, taking into consideration the requirements of the new regulation. So, organisations will be looking for procurement professionals who have knowledge about GDPR, outsourcing, and data storage.
The task of reviewing existing and future contracts to ensure that they comply with GDPR is a major one, and only those professionals with in-depth knowledge of the new regulation will be able to do it. It is not only about checking the contracts, but also ensuring that data storage within the organisation complies with the regulation. Moreover, procurement professionals will have to ensure that their suppliers and vendors also comply with GDPR and that the flow of information in the organisation and supply chain does not infringe the requirements of the regulation.
Working with the legal division
With Britain set to leave the European Union without any agreement, procurement professionals will be working more closely with their organisation’s legal department. So, these professionals should also have legal knowledge as well as expertise in their field. It will help them minimise any issues within the supply chains.
If you are a procurement professional, now is the time to brush up on your knowledge of GDPR. It will transform you into a valuable asset for your organisation, and it is possible that you may get better, more challenging, and more lucrative opportunities in other organisations due to your expertise.
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