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Proactis Holdings Plc

Proactis Holdings – Sourcing: How Come It Keeps Going Wrong?

Does your company’s sourcing of products and services resemble a frantic trolley dash — or a laborious trip to the shops where someone always comes back with the wrong thing, or at the wrong price? Sourcing should be simple. But it’s easy to waste time, talent and money.
Every year, organisations spend millions on products and services for their own needs. Businesses need laptops, mobile phones, leased cars, hotel rooms, temporary staff, legal services and countless other items.

But think back and you’ll probably recall some horrendous corporate purchases from your own experience. There’s the kit that always kept going wrong, the professional service with unexpected hidden costs and the suppliers that promised much but let you down every time. That’s not to mention the sky-high prices paid for some items that bizarrely slipped through the net.

Sometimes ‘best value’ is achieved, sometimes it’s a vague aspiration, remote from the real world.

So why does this happen? In broad terms, bad sourcing is often caused by a mixture of a lack of time for procurement staff, fiendish complexity and an inability to have visibility and fully control the process in a timely fashion. But there are more specific reasons why failures keep happening.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.