Agile Procurement is to purchase a solution according to the needs and wants of the customer (made changes throughout the process) instead of following on a product specification being established in the beginning of a project.
The Values of Agile Procurement
In this new era, if you say “You are not ready to practice Agile Procurement” is not acceptable. You should practice agility in procurement to gain competitive advantage position. Below are some strategic areas to embrace procurement agility.
- Supplier Relationship Management, Processes and Tools
Processes and Tools can be managed by technologies
like such as Machine Learning and Robotic Process Automation. You should concentrate on harnessing and improving the supplier relationship by interacting with them to understand their needs and wants.
- Working Software over Comprehensive documentation
To practice Agile Procurement is not to eliminate any procurement processes or documentation. The focus here is to streamline and simplify the processes so that they are easy to be understood and followed by different stakeholders.