Welcome once again! I promised not to miss blogging this weekend, so that I deny you the opportunity of complaining about the missing blog post. Of course I know not everybody complaints about missing a post, but it’s good to maintain consistency. Isn’t it? It’s a promise. It’s a relationship. It’s more than just another blog. So it’s good to keep the tempo despite occasional challenges. I do hope you are alright. Can we now proceed?
Today we would like to venture into the area of buying or purchasing. Never mind some of the words used to make this subject appear extremely big and important. Some call it sourcing, resourcing, procurement, purchasing, category, vending, delivery, acquisition, attraction, buying etc. I don’t care whatever fantabulous or humongous title you give this function in your enterprise. We shall keep it as simple as buying – or at least procurement.
Again, we will try and keep the action points simple. I’m not going to advise you to recruit a procurement manager for your enterprise. OK? I know there are people doing degrees, masters and doctorates in procurement, but I’m going to talk about simple procurement or buying fundamentals. You don’t need to know rocket science to understand this. So, what are the top procurement or buying fundamentals for you, an entrepreneur?
Now, I don’t intend to make you sleep on this blog. For this matter, let me make a swift conclusion here.
I’ve been blogging about the top 8 fundamentals of procurement or buying. I know they are key issues, but you may think otherwise. It’s a free world but be smart. Procurement usually constitutes a significant portion of expenditure for many enterprises, and mistakes here can be very costly for your enterprise. Glance at these points whenever you want to make an important procurement or buying decision, even if you have an encyclopedia on procurement principles. OK? You won’t regret it. I’m certain!
Till then – and with every good wish,
The Wise Entrepreneur