EDITOR’S NOTE: The question from today’s post headline was inspired by the following excerpt from a LinkedIn post by Marijn Overvest.
“Procurement isn’t just about ticking boxes—it’s about creating value for the entire organization. Here’s the trade: we ensure compliance with procurement policies, protect the business, and align it with strategic goals. In return, you get a supplier selection process based on more than just cost. 💡📊“
Here is my response – I would be interested in hearing your thoughts:
Great post, Marijn Overvest. Ironically, it made me think of the following point from a panel discussion I moderated in 2020 that included Richard Stiennon and Greg Hartman:
“74% (of procurement professionals) believe that third-party vendor selection overlooks potential key risks, with 64% saying that their organization focuses more on cost than security when outsourcing (Bomgar Corporation survey).”
Once again, to what degree are organizations still too focused on cost-cutting or savings over strategic interests?
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Procurement Insights
To what degree are organizations still too focused on cost cutting or savings over strategic interests?
Posted on September 30, 2024
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EDITOR’S NOTE: The question from today’s post headline was inspired by the following excerpt from a LinkedIn post by Marijn Overvest.
“Procurement isn’t just about ticking boxes—it’s about creating value for the entire organization. Here’s the trade: we ensure compliance with procurement policies, protect the business, and align it with strategic goals. In return, you get a supplier selection process based on more than just cost. 💡📊“
Here is my response – I would be interested in hearing your thoughts:
Great post, Marijn Overvest. Ironically, it made me think of the following point from a panel discussion I moderated in 2020 that included Richard Stiennon and Greg Hartman:
“74% (of procurement professionals) believe that third-party vendor selection overlooks potential key risks, with 64% saying that their organization focuses more on cost than security when outsourcing (Bomgar Corporation survey).”
Once again, to what degree are organizations still too focused on cost-cutting or savings over strategic interests?
30
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