If you’re new to procurement, you might be wondering what to expect along the way. Here are a few things you should know to make the process go more smoothly.
Process
A Procurement Journey Process is a structured guide for all levels of procurement activity. Companies can create a robust strategy, reduce risks, and manage the process by using a procurement journey. There are three different types of journeys: low-value contracts, moderate value contracts, and high-value contracts. Depending on the circumstances, you may choose one or more journey routes. If you plan to go through a specific journey route, make sure that you know what to look for.
Once you have defined your process, your next step is to develop a PO for the item or service you are looking to purchase.
People
Procurement has often had a reputation of being a policeman of spending. But a good procurement experience involves more than just controlling the process – it has to be a personal journey that people can enjoy from start to finish. In addition, a good experience should involve collaboration, buy-in, and sponsorship – all of which are crucial to success. Albany’s approach is to help procurement create a new understanding of the procurement process, repositioning the function as a value-add partner.
Paperwork
The Procurement Journey is a structured process that illustrates the entire procurement process from initiation to finalization. It provides a chronological view of all procurement activity levels and helps businesses manage their expectations of the procurement process and the risks involved. The process is consistent with the Scottish Sustainable Procurement Action Plan and electronic procurement systems. It aims to provide a more integrated approach to procuring goods and services. However, it does not replace a business’s internal processes.
For all procurement projects, documentation is essential. Procurement documents represent a buyer and a seller’s agreement. As a result, this paperwork is referred to as the artifact of the procurement journey. Legal and regulatory requirements, therefore, govern the procurement process. However, the documentation created during the procurement process is not just the result of the procurement process – it is the most important aspect of the journey. Therefore, detailed documentation is essential for the success of the journey.
Technology
Procurement can support innovation initiatives by identifying key suppliers and inducing them to develop innovative offerings. With digital platforms, procurement can collaborate with engineering departments to develop innovative offerings while seeing each other’s initiatives. This way, they can share ideas and collaborate more efficiently.