Procurement has never been one-dimensional when it comes to making decisions, but it struggles with its perception. More often than not, Procurement practitioners only sigh and smile when asked if misconceptions about their profession or the value it delivers exist. Procurement is often perceived as a cost-cutter -
not a function that brings a holistic and measured perspective
to the discussion.
Procurement is inherently complex due to the large amounts of information on internal demand, suppliers, pricing, and external data it needs to process. While supplier data regarding risk, sustainability, diversity, or performance are often captured in appropriate systems, this information is usually not available to every sourcing manager or consistently integrated into the decision-making process.
Price is not