Where to Start in Re-Evaluating Your Purchasing Habits

October 11th, 2018

Do you own one business or are you a corporation with thousands of locations?

 

 

Today’s post is written by Heather Powell, Director of Major Accounts and Special Projects at SafeSourcing Inc.

Do you own one business or are you a corporation with thousands of locations? How do you look at your purchasing needs for internal business or goods for resell? Do you rely on the sales person to tell you they have the best product and can get you the best price? Do you research your suppliers? Finally, how do you know you are getting the best product at the best price?

The process in re-evaluating your purchasing habits are the same, regardless of the size of your business, and it applies for goods as well as services. With a careful focus in following areas you can redefine your purchasing habits; you can use this list as a guideline or create your own:

  1. Lower costs
  2. Consistent and improved quality
  3. Products that guarantee safety for your consumers
  4. Smooth transition to new supplier relationships
  5. Quality product specifications
  6. Unlimited new sources of supply
  7. Well thought out internal and external collaboration and aggregation
  8. Support for environmentally focused products
  9. Support of corporate social responsibilityinitiatives
  10. Evaluation of low cost technology solutions
  11. Joining and collaborating with a share group
  12. Review of incumbent suppliers
  13. E-Sourcing or e-procurement training.
  14. Existing procurement tool evaluation
  15. Existing contracts evaluation
  16. Spend evaluation
  17. Alternative geography sourcing
  18. Sourcing and supply chain knowledge transfer
  19. For resale sustainable practices review
  20. Perfecting the expense category

As you brainstorm the above list, think of other ways you can do a process improvement for your purchasing habits and create your own list. Prioritize and elimination sessions will help you focus on the areas that are more important to your business needs.  Please use the list above as your guideline and make your goals simple and achievable.

Are you overwhelmed and need assistance? SafeSourcing can assist you in exploring your procurement solutions for your business or on our “Risk Free” trial program for RFPs and RFQs, please contact a SafeSourcing Customer Service Representative.  We have an entire customer services team waiting to assist you today.

We look forward to your comments.

 

 

 

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