procurement process

Conducting an Effective Procurement Process Audit

Many clients bring me in to audit their expenses and identify inefficiencies in their procurement and Accounts Payable processes. Generally, a procurement process involves the following factors: Current business need to purchase raw materials and supplies Vendor research and price comparison, including the development of a quality plan Approving the vendor and authorizing the purchaseContinue reading “Conducting an Effective Procurement Process Audit”

Price focused Sourcing is bad for business

We live in a capitalist society. It’s understandable that companies want the best prices on supplies and materials to make their products or provide a service. When your procurement team is only motivated by price instead of the total cost, quality, delivery and logistics is lost. For example, your Procurement Manager may think, “Hey, weContinue reading “Price focused Sourcing is bad for business”