The 4 Worst Procurement Myths
By Charles Dominick, SPSM, SPSM2, SPSM3
Do You Believe These Common Procurement Myths?
Myth #1: More specific specifications are always better. When all suppliers bid on the same exact requirements, you get the assurance of an equitable or "apples-to-apples" comparison and the ability to use fewer variables when comparing suppliers. While that's good in some situations, overly restrictive specs may keep you from capitalizing on the strengths of suppliers whose capabilities can offer more profitable options.
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Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Well, guess what? Nothing will change unless you take action towards becoming a world-class procurement professional.
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Are you a procurement leader whose team isn't achieving the results you know are possible? Maybe it's not enough cost savings. Or frustrating performance from the supply base. Or dissatisfied internal customers.
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