Procurement 7 Deadly Sins

Too much time and money are wasted through people subverting your company purchasing policy. People buy the wrong things from the wrong suppliers. They spend beyond the budget. They create incomplete transactions that have to be fixed up later by accounts payable. They buy in a way that makes it impossible to accurately report liabilities and achieve a fast close. They may even defraud the business. These breaches are not always deliberate. Often people do the wrong thing because they don’t know any better and nothing shepherds them through the correct process.

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