How robust is your procurement process?

A poorly executed procurement process often leads to failed sourcing activities with detrimental consequences: budget over-spend, losses, frustrated stakeholders and suppliers, wasted resource, fragmented buying, maverick spending.

We regularly hear that procurement processes are avoided because they are authorisation and admin heavy and actually easy to circumvent.  A robust procurement process doesn’t necessarily mean that it has to be cumbersome.  The process should be lean and as efficient as possible, however, there should be a process.