Looks like this week allowed me to showcase a number of my other connections and Radha Vedanayagam CIPS, B.B.L, CICCM did an excellent job outlining what you shouldn’t do.
I am sure I might be able to think of a few others but where is the fun in that? Why not leave it to my followers to make suggestions and comments?
My goal is to now try and get a bit more interaction when it comes to my posts. It is great that you like what I do but how do I know if you only look and you don’t comment? I strive to get feedback and input in every aspect of what I do.
So do me a favor and every once in a while say something even if is only a thumbs up (good job emoji).
PROCUREMENT DON’Ts…
Here are some common bad practices in procurement:
Ethical Issues:
1. Bribery and corruption
2. Conflict of interest
3. Favoritism and nepotism
4. Information leakage
5. Unauthorized gifts or entertainment
Process Irregularities:
1. Lack of transparency in tendering
2. Inadequate specification definition
3. Insufficient supplier research
4. Failure to document decisions
5. Non-compliance with regulations
Contract Management:
1. Poor contract drafting
2. Inadequate contract monitoring
3. Failure to enforce contract terms
4. Unauthorized contract amendments
5. Lack of contract closure procedures
Supplier Relationship Management:
1. Unfair treatment of suppliers
2. Lack of communication and feedback
3. Failure to develop strategic relationships
4. Insufficient supplier evaluation
5. Unmanaged supplier risk
Compliance and Risk:
1. Non-compliance with laws and regulations
2. Inadequate risk assessment
3. Failure to mitigate risks
4. Lack of audit trails
5. Unreported procurement errors
Performance and Value:
1. Failure to measure procurement performance
2. Lack of cost-benefit analysis
3. Inefficient procurement processes
4. Failure to innovate or improve
5. Insufficient stakeholder engagement
Technology and Data:
1. Inadequate procurement systems
2. Poor data management
3. Lack of analytics and insights
4. Insufficient automation
5. Data security breaches
Other Bad Practices:
1. Rushed or delayed procurement
2. Lack of procurement planning
3. Insufficient training and development
4. Failure to engage stakeholders
5. Unmanaged procurement spend
To avoid these bad practices:
1. Establish clear policies and procedures
2. Provide regular training and development
3. Ensure transparency and accountability
4. Conduct regular audits and reviews
5. Foster a culture of ethics and compliance
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