By Mickey North Rizza, VP at BravoSolution
“Procurement must move to unlocked procurement or risk obsolescence”.
Merriam Webster defines “conventional” as typical, ordinary and the usual. Applying conventional to procurement diminishes the organization because it exists as an elementary step to quickly satisfy needs verses seeking opportunities to secure unlimited value. The world has moved beyond reactive, conciliatory, scattered procurement teams narrowly focused on spend management, savings and transaction management. While a view of spend is required to gain visibility to external purchases within the organization and to make plans for improvements, it isn’t the be-all and end-all.
The conventional procurement approach de-emphasizes the supplier and promotes the buyer to leverage spend and exert power over the supplier. While it may be useful to get the first deals for basic items like office products, it doesn’t do much to promote collaboration or innovation, or to bring sustainable value to your more strategic suppliers that enhance revenue and profitability.
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