March 30

It’s Time to Boost Procurement Efficiency

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There’s no better time than now to focus on the importance of procurement
efficiency. Two years of dealing with a public health crisis along with one of the
worst supply chain disruptions in modern history is enough to make procurement
professionals rethink their strategies for the future. The business world is currently
going through something of a transformation. Those who refuse to adapt to the
changes will be left behind. Let’s focus on what can be done to improve

Out with the Old

The old ways have run their course. It is time to identify and review your inefficient
processes to make way for more efficient ones. Do a deep dive to discover which
ones need to be changed or completely eliminated. Get feedback from within your
organization so that you can determine how to best direct your time and resources.

Build Upon Relationships

In order to truly become a successful procurement professional, you need trusted
suppliers. Focusing in on that relationship is a top priority. By building upon these
preexisting relationships, you will ensure that the procurement process runs as
smoothly as possible. By keeping the process fair and honest, your suppliers will
remain satisfied with the relationship, saving you the trouble of starting the whole
process of building another one all over again.

Expand Outreach

It’s also a great idea to build relationships beyond just your suppliers. Don’t close
yourself off from other teams. Instead, work as closely as possible with all of your
stakeholders. Build relationships with other departments within your organization as
well. This will help increase efficiency, and speed up the process considerably. Keep
a clear line of communication with all parties involved. These relationships will
become the backbone of your procurement organization, as they will ultimately
determine your overall success.