Many companies do not have a fully thought-out procurement process. It’s often left up to individual departments or employees to decide which goods to purchase and from where. Without a companywide buying strategy based on pre-negotiated agreements, maverick spending becomes a costly problem for the company.
Companies that do have procurement departments also face the challenge of being seen as a roadblock to decision making. They can appear to make everyday tasks bureaucratic and cumbersome with a single goal: negotiating the best deal with suppliers. This is not always the best way to bring value to the company as a whole.
So what’s the best way to align procurement with your overall business tactics? An e-procurement strategy is something all businesses, regardless of size or industry, can implement for companywide savings, efficiency and collaboration.