Filtered by author: Katina Hartsfield Clear Filter

Set the Tone

by: Paula Moten
Category: General
Mar
20

Set the Tone

Author: Paula Moten, USAA

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The Maverick

by: Paula Moten, USAA
Category: General
Mar
20

The Maverick

Author: Paula Moten, USAA

The business needs and wants should be at the top of your list; however, as the contracts negotiator, you need to understand and identify the risks.   Communicating with your business partner will help you know the nice-to-haves versus the must-haves. Suppliers often add on services or value adds that the business falls in love with; however, when they include them at no cost or a low dollar cost, buyers beware, free can sometimes be free, but often free is the snake that bites your hand. Value adds often come with strings, strings usually equal scope creep. Scope creep, unapproved, unaccounted-for, and non-budgeted costs incurred after signing the contract. Yes, we are talking about the maverick, dark purchasing, a/k/a rogue spend. Typically, rogue spending occurs when the P2P process is unclear. But, with today's compliance-driven, heavily regulated third-party risk management processes, much rogue spending often happens out of frustration over the slow approval process for contracts and purchase requisitions. As a procurement professional, I remind my business partners of the value of the P2P process and the risks of rogue spending. Rogue spend and those who regularly take that path should be wary. In today's post covid, high-interest rates, inflation, and looming layoffs atmosphere, rogue spending is a path to avoid.   When or if your company begins to strategize on how to cut costs, don't find yourself on the maverick list.  

What is the Future of Procurement?

by: T. Jeff Vining
Category: General
Apr
05

What is the Future of Procurement?

Acquisition professionals are facing expanding regulatory requirements, pricing pressures and an ever-evolving environment, compelling procurement leaders to reevaluate their own strategies. For example, many procurement professionals for the past two years have diligently reduced their labor and outsourcing costs, but at what price? Given this landscape, technology acquisition professionals are asking themselves, “What is the future of procurement?”

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