P rocurement compliance is directly linked to risk mitigation, and the management of any risks perceived. We believe that the procurement of goods and services (and human capital) represents the heart of any organisation.
A lack of procurement strategy or non-adhered strategy will impact an organisation’s profitability if spend is not proactively managed and forecast.
Poor products or services selection will impact your revenue and market perception with your end customers.
Suppliers commercial relationship that is left unmanaged will impact the reliance you can place on your supplier base.
A lack of documentation, intranet information and support will negatively impact procuring staff – this is specially true when the procurement function is not a core function within an organisation.
Risks will be built within non-followed processes, ad hoc behaviour, thus impacting data reconciliation and future effort to improve your entire supply chain.
As such, it is critical to monitor your organisation compliance, either via an internal team or via a third party organisation – to ensure full procurement compliance.
Please contact us should you wish to review your internal purchasing, procurement, sourcing, and supply management compliance from a guideline, policy, and OLA perspective.