Are retail companies planning for their annual e-procurement health checkup? Part I of II

October 23rd, 2008

Is applying the same strategy that we should for our personal health an intelligent plan when looking at our annual e-procurement results?

Is applying the same strategy that we should for our personal health an intelligent plan when looking at our annual e-procurement results?

Generally doctors would provide guidance that individuals should have a detailed physical every two years to check their entire internal and external operating systems so to speak. They would also suggest that an interim year less detailed annual check up also take place. Now, I know many of you are going to say this is exactly what we are talking about during this political season and that many can not afford to do this. Unfortunately when our health deteriorates at some point down the road and our performance suffers as a result, these costs may in hindsight seem less expensive. We all know that our hindsight and our foresight should be in line with our insight.

Unfortunately, e-procurement is not generally a detailed line item of most annual plans. It is however a tool that can be used to control cost, raise margins and improve quality which are categories that normally make it into annual plans as significant talking points albeit without much how to detail. A fairly simple approach to accomplishing this task is to use tools that have generally been used for personal performance improvement for years. Number one is to make a list of assets, or things that you do well and reinforce those. Number two is to make a list of liabilities or things that require some improvement and focus on improving those.

This author will leave it to readers to determine what goes in each column, but will provide a list of 15 questions companies can ask themselves with the result going into either column based on the answer.

Please visit us for Part II this blog post to review the 15 questions.

We appreciate and look forward to your comments.

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