Today, we begin a series that will hit on 25 procurement myths. Some you may know, others maybe not. You also may agree with us on some and not others. But, the important thing is that we have this discussion. We will post 1 a day here on Chief Procurement Officer, so make sure to check back on the site to catch them all. We will also be posting a Plus-level article including all 25 procurement myths over on on Spend Matters site.
Let's get started.
1. At the end of the day, it’s all about procurement performance and hitting your metrics
Nope. This is obviously important, but it’s really about the extent that the business gain more value from its spend and the extent that procurement enables that. Procurement can perform flawlessly on a narrow value proposition of maximum purchase price reduction for minimum procurement operating expense. But, exceeding narrow service level agreements doesn’t mean much if the services themselves are not creating the supply value improvements most needed by the business. For more on this, see here.