• Summarize and analysis of each of the 5 challenges providing 2 examples for each
• Add a conclusion to the whole article
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Top 5 procurement challenges 1. Lack of internal communication 2. Procurement bypass 3. Difficulty tracking contracts 4. Poor supplier relationships 5. Lack of technology Once viewed as purely an administrative function, procurement is being recognized more and more as an integral component of organizational performance - one that has the potential to significantly impact the bottom line. But procurement (sourcing the goods and services you need to run your business) can only deliver the expected value when it involves efficient, well-designed processes and everyone in the organization is working toward the same goals. Needless to say, that doesn't always happen. Below are five common procurement challenges that can stand in the way of business performance. The more you know about them, the better equipped you'll be to identify and address problems when they arise. Top 5 procurement challenges 1. Lack of internal communication 2. Procurement bypass 3. Difficulty tracking contracts 4. Poor supplier relationships 5. Lack of technology Once viewed as purely an administrative function, procurement is being recognized more and more as an integral component of organizational performance - one that has the potential to significantly impact the bottom line. But procurement (sourcing the goods and services you need to run your business) can only deliver the expected value when it involves efficient, well-designed processes and everyone in the organization is working toward the same goals. Needless to say, that doesn't always happen. Below are five common procurement challenges that can stand in the way of business performance. The more you know about them, the better equipped you'll be to identify and address problems when they arise.

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Based on the information provided here is a summary and analysis of each of the five challenges in procurement along with two examples for each and a conclusion for the whole article 1 Lack of interna... View the full answer