Purchasing Procedures and Policies

Add comment June 9th, 2006 Jason Treida - Iasta

I find it amazing how many companies do not have a formal purchasing process in place for their entire purchasing department or if they do have a formal process that they do not follow it. Even some Fortune 500 Companies that I have had the pleasure to work with over the last year still send out, collect, and analyze bid packages in a paper based format. This is somewhat shocking and what has been more surprising is that many of these companies have an eSourcing application implemented in other divisions but they do not share the license across all sourcing departments.

Iasta has been helping some of these companies to develop and adopt eSourcing practices and procedures which have been positivity accepted from the buyers that follow these procedures. How can sourcing departments improve their sourcing practice and become more efficient when they do not have any formal procedure to start with and improve upon. You have to start with a process before you can improve it!

Has your company implemented a corporate policy requiring a standardized strategic sourcing process that each buyer must follow and it is reviewed on a regular basis?

Entry Filed under: General, Project Management, e-Sourcing Marketplace