Procurement professionals can sometimes become overly fixated on savings and unit cost reduction. However, that approach can be short-sighted and doesn't let you exploit the strategic procurement value that you can bring to the table.
Sometimes it's best to spend more money buying particular goods or services than we have to and not to buy the lowest cost option. Every experienced and intelligent procurement practitioner will agree with that; and yet behaviors and measures of procurement success do not always reflect that.
This whitepaper takes a look at those three occasions when procurement should spend more and place value generation ahead of cost-cutting.
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Peter has 30 years' experience in procurement and supply chain as a manager, procurement director, consultant, analyst and writer. He edits Spend Matters UK/Europe, and with Jason Busch, the founder of Spend Matters in the US, has developed it into a leading web-based resource for procurement and industry professionals. Peter is also Managing Director of Procurement Excellence Ltd, a leading specialist consulting firm, and is recognised as one of the UK's leading experts in public and private sector procurement improvements.