Procurement compliance involves adhering to protocols for the share of company spend that procurement is supposed to control—in other words, it’s the percentage of purchasing that is contracted and approved based on an established set of guidelines.Continue Reading
What does it mean to be ‘free’ in purchasing terms? The business directory says it is characterized by choice and not by constraint or external control. It could also be something that costs you nothing. What about ‘worth’? Is your time your worth? If so, there are a few things to consider before you make any decisions.
Approval is normally given or felt when someone has a positive opinion of something. If your project is running smoothly and the budget was kept to, there is no feeling so sweet! The challenge is in getting that satisfying feeling every time and not just sometimes. The fluency of your approval process plays a very important role in determining whether other related processes get delayed as well. Approvals for purchases are a very important part of getting the work done.