Source One's Procurement Policy Advisory services ensure the function performs to its full strategic potential.
Source One’s Procurement Transformation team helps assess and optimize the function’s policies.
Purpose matters. It encourages productivity, investment, and accountability. It drives businesses to go above and beyond their objectives and seek new opportunities to adapt and evolve. For Procurement, this ‘purpose’ is communicated through Policy. Rather than focusing on the how and what of sourcing products and services, Procurement’s Policy gets at the all-important ‘why.’ A good Procurement Policy is almost invisible, it establishes a framework for driving results without drawing attention. A bad Procurement Policy, on the other hand, is immediately recognizable. It can lead businesses to non-compliant, unproductive chaos.
What Does an Ineffective Procurement Policy Look Like?
- A lack of respect for standard sourcing and procurement processes
- Long lead times for basic processes
- Poor contract management
- Disengaged suppliers and stakeholders
- Tension or poor communication between Procurement and other business units
- Outdated training programs and materials
- Unclear roles, responsibilities, and chains of command
- Risky or unethical purchasing habits
- Rampant maverick or off-contract spending
Source One’s Procurement Policy Advisory team has helped numerous organizations address those concerns, revamp their existing policies, and establish a best-in-class approach to Procurement. Our experts work directly with Procurement and all relevant stakeholders to holistically assess your organization’s sourcing and purchasing processes. Providing an objective set of eyes, the Policy Advisory team leverage its years of market intelligence to remove siloes and reduce inefficiencies. In every engagement we investigate Procurement’s role, people, processes, technologies, and existing procedures to introduce a world-class Procurement Policy.
What Does a World-Class Procurement Policy Look Like?
- Clear roles and responsibilities for Procurement and other stakeholders
- Standardized Procurement procedures and systems for enforcing compliance
- Definitions for Procurement’s key terminology and titles
- Established purchasing limits and guidelines
- Standard processes for sourcing events, supplier selection, contract development, and lifecycle management
- Dedicated Supplier Relationship Management programs
- Plans for leveraging and optimizing Procurement’s technology
- Outlines for personnel and professional development
- Special programs including Supplier Diversity
- An apparatus for continued improvement
- And more
Source One’s Procurement Policy Advisory services result in a strong deliverable that client’s can quickly implement enterprise-wide. Armed with a living document, clients are empowered to adapt and evolve with the ever-changing Procurement landscape. With increased operational efficiency and renewed faith in their Procurement function, they can confidently enter its next strategic era.
Reach out to the Procurement Policy experts today to establish more effective, transparent, and sustainable procedures.
Contact Source One’s Procurement Policy Experts