Procurement outsourcing is the use of an external team to perform defined procurement work that the buying organization would otherwise manage internally. The scope may cover supplier discovery, RFQs, negotiation, purchasing, supplier coordination, reporting or an entire source-to-pay process. The agreement should state which decisions remain with the buyer.
What should the Procurement Outsourcing operating record contain?
Record the service scope, approval authority, supplier ownership, systems used, performance measures, fees, escalation route and exit obligations.
What does Procurement Outsourcing not establish?
Outsourcing adds capacity and specialist coverage, but the buyer still owns policy, budget authority and accountability for supplier decisions.
What does Procurement Outsourcing not establish?
Quotable Concierge provides managed procurement outsourcing for businesses sourcing physical goods and overseas suppliers.
