Blog Series: Top 10 Reasons Why Procurement Fails
In this series, I will be introducing the top 10 reasons why Procurement fails. Why failing? Why not, succeeding? There are many successes to be celebrated, however, in my experience, many of my best, hard earned lessons, were from failing. Either my own personal failure or a failure I observed as a leader or member of a team, which can often be more painful. What is most important is how you react to failure and what lessons you learned from those failures. I like the saying “fail-forward” and truly believe you must fail and fail often so that you can become better and continuously learn. In that spirit I share with you the top 10 reasons why procurement fails and the lessons we can learn.
#10 Fail to Engage Stakeholders
Engaging with stakeholders is something many procurement professionals shy away from or wait until the strategy is complete. Often, they think they need to develop some shiny and perfect strategy or proposal before they will be taken seriously. Too late! “Involvement fosters ownership”, my old boss at Rogers Communications; Don Moffatt use to say. Engaging Stakeholders early in a procurement, strategic sourcing or project management initiative, is critical.