Consultant - Product Development & Procurement in London

Consultant - Product Development & Procurement in London

London Full-Time 36000 - 60000 Β£ / year (est.) No working from home possible
Mckinsey & Company, Inc.

At a Glance

  • Tasks: Join our team to solve complex operational challenges and develop innovative product strategies.
  • Company: McKinsey is a leading global consultancy dedicated to driving business growth and operational excellence.
  • Benefits: Enjoy professional development, flexible career paths, and hands-on coaching in a dynamic work environment.
  • Other info: Apply with your CV and transcripts to kickstart your consultancy career in Europe.
  • Why this job: Be part of a prestigious firm that empowers you to tackle real-world problems and make an impact.
  • Qualifications: Master's degree required; experience in product development and strategic purchasing preferred.

The predicted salary is between 36000 - 60000 Β£ per year.

Your Growth

You will be based in one of our European offices as part of our Operations Practice.
Our Operations Practice assists our clients in solving complex operational challenges. Blending strategic thinking with hands-on practicality, our teams of consultants and experts work to develop and implement operational strategies that solve our clients’ most critical problems.
McKinsey’s Product Development & Procurement service line is committed to helping clients develop products that fit market needs, generate attractive margins, provide platforms for add-on offerings, and enhance brand reputations to drive future business growth. Our work in product development includes defining, developing, and implementing strategies that enable clients to achieve lasting improvements in innovation and business performance. Additionally, our work in procurement focuses on providing clients with support and advising their management teams on strategic and operational matters, such as global sourcing, e-procurement, supplier development, and the formation of purchasing organizations.
When you join McKinsey as a Consultant, you join a firm that will challenge you and invest heavily in your professional development. You will have the opportunity to work in teams and help the best organizations in the world solve some of their most difficult problems.

Your Impact

You will play an active role in problem solving for clients including identifying issues, forming hypotheses, designing, and conducting analyses, and synthesizing conclusions into recommendations.
As part of our two-year Operations Excellence Program (OEP), you will work on client engagements in the same way as any other McKinsey consultant. You will gain leading edge operations and consultancy skills, primarily through on-the-job coaching, which will be complemented by the OEP’s structured capability-building program.
We view the OEP position as the start of a rewarding, challenging and highly flexible career with McKinsey and the Operations practice. During your first few years with the firm, you will serve as a Consultant on multiple client engagements and work with a number of colleagues and clients in a range of industry and operations service lines. You will acquire the necessary knowledge and expertise to help companies achieve excellence in their operations.
Along with other members of the OEP community, you will dedicate many days to functional training and knowledge development under the leadership of our operations experts. You will follow a curriculum based on operations excellence themes and will receive advanced training in one of six specific areas of operations: manufacturing, product development, purchasing, service operations, supply chain management, or capital excellence.
Upon completion of the program, successful consultants will join our global group of leading experts in operational excellence. We already have OEP graduates working at all levels of the firm from associate to partner.
Your application should be in English and include your CV and your transcripts (high school, university, etc.), indicating all relevant grades.

Your qualifications and skills

  • Master’s degree and exceptional academics required
  • Initial experience in product development (e.g., product optimization/value analysis, leading R&D projects, technical supplier management)
  • Initial experience in strategic purchasing and/or supply management (e.g., global sourcing strategies, cross functional category management, RfQ processes and negotiations, talent development and capability building)
  • Proven record of leadership in a work setting and/or through extracurricular activities
  • Mobility and enthusiasm for taking on European assignments during the work week
  • Exceptional analytical and quantitative problem-solving skills
  • Ability to communicate complex ideas effectively, both verbally and in writing, in English and local office language
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Consultant - Product Development & Procurement in London employer: Mckinsey & Company, Inc.

At McKinsey, we pride ourselves on being an exceptional employer that fosters a culture of growth and collaboration. As a Consultant in our Operations Practice, you will benefit from extensive professional development opportunities, including our Operations Excellence Program, which equips you with cutting-edge skills and hands-on experience in solving complex operational challenges for top-tier clients across Europe. Our commitment to your career progression, combined with a dynamic work environment and the chance to make a meaningful impact, makes McKinsey a truly rewarding place to build your future.

Mckinsey & Company, Inc.

Contact Details:

Mckinsey & Company, Inc. Recruitment Team

StudySmarter Expert Advice🀫

We think this is how you could land Consultant - Product Development & Procurement in London

✨Tip Number 1

Familiarise yourself with the latest trends in product development and procurement. Understanding current market needs and innovations will help you engage in meaningful conversations during interviews and demonstrate your passion for the field.

✨Tip Number 2

Network with professionals already working in consultancy or related fields. Attend industry events, webinars, or workshops to connect with potential colleagues and gain insights into the company culture at McKinsey.

✨Tip Number 3

Prepare for case study interviews by practising problem-solving scenarios relevant to product development and procurement. This will not only boost your confidence but also showcase your analytical skills effectively.

✨Tip Number 4

Demonstrate your leadership experience through specific examples from your past roles or extracurricular activities. Highlighting how you've led teams or projects will resonate well with the values McKinsey looks for in a consultant.

We think you need these skills to ace Consultant - Product Development & Procurement in London

Product Development
Strategic Purchasing
Supply Management
Global Sourcing Strategies
Cross-Functional Category Management
Technical Supplier Management
Analytical Skills

Some tips for your application 🫑

Tailor Your CV:Make sure your CV highlights relevant experience in product development and procurement. Use specific examples that demonstrate your analytical skills and leadership abilities, as these are key for the role.

Craft a Compelling Cover Letter:Write a cover letter that connects your background to the responsibilities of the Consultant position. Emphasise your enthusiasm for operational excellence and how your skills align with McKinsey's goals.

Highlight Academic Achievements:Since exceptional academics are required, ensure you clearly list your Master's degree and any relevant coursework or projects that relate to product development and strategic purchasing.

Prepare for Potential Assessments:Be ready for potential case studies or analytical assessments during the application process. Brush up on your problem-solving skills and practice articulating complex ideas clearly.

How to prepare for a job interview at Mckinsey & Company, Inc.

✨Understand the Role

Make sure you have a solid grasp of what the Consultant role in Product Development & Procurement entails. Familiarise yourself with McKinsey's approach to operational challenges and be ready to discuss how your skills align with their needs.

✨Showcase Your Experience

Prepare to discuss your previous experiences in product development and strategic purchasing. Highlight specific projects where you've made an impact, focusing on your analytical and problem-solving skills.

✨Demonstrate Leadership Skills

McKinsey values leadership, so be ready to share examples from your work or extracurricular activities that showcase your ability to lead teams and drive results. Think about times when you've taken initiative or influenced others positively.

✨Ask Insightful Questions

Prepare thoughtful questions about the Operations Practice and the two-year Operations Excellence Program. This shows your genuine interest in the role and helps you assess if it's the right fit for you.