The 25 New Rights of Purchasing, Part V
PurchTips edition #283
By Charles Dominick, SPSM, SPSM2, SPSM3
Ready For The Final Five Of The New Rights?
In editions #275, 277, 279 and 281, I introduced the first 20 of the "25 New Rights of Purchasing" to replace the traditional "5 Rights of Purchasing." Today's edition is the series' final one as we introduce the last five Rights.
- Right Agility - Business - and the world - is constantly changing. Procurement professionals like you need to be agile in order to keep up with and take advantage of change. This means that you need suppliers who are at least equally agile and can adapt their products, services, processes, and the like as business conditions change.
- Right Convenience - The accelerating pace of business means that everyone is trying to do things fast. Sometimes, quality unacceptably suffers in the pursuit of speed. This requires you to ensure that the best thing for your internal customers to do is also their most convenient option. Therefore, it's important to select suppliers that offer convenience in their ordering and other processes.
- Right Safety Practices - Your organization probably has high standards for ensuring employee safety. Therefore, you should ensure that your suppliers have equally high standards. Public blame for a safety lapse at a supplier's facility is often placed as much on the customer as on the supplier.
- Right Compliance - Just as a supplier safety violation can reflect poorly on your organization, so can a supplier violation of law, particularly if related to child or slave labor. Plus, your organization could be charged with violating a law as the result of illegal activity in your supply chain. Evaluate a supplier's compliance during the sourcing process as well as throughout that supplier relationship.
- Right Country - A decade ago, "low cost country sourcing" was all the rage. Today, global sourcing looks at more than just cost to determine if a country is the "right country" for finding suppliers. From safety standards to susceptibility to natural disasters to political stability and more, there are many things to evaluate when deciding on a country in which to source.
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Are You Getting The Most Out of Your NLPA Membership?
Members of the NLPA get more than just articles like this by email. As a member, you also get access to:
- The Procurement Training & Certification Starter Kit
- The latest Purchasing & Supply Management Salaries Report
- Leading-Edge Supply Management™ magazine
- Members-only webinars 10x per year
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Other Editions of PurchTips:
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