Being a maverick isn’t always a bad thing. In fact, the ability to think outside the box and innovate is a desired employee trait in most industries. BUT, what happens when procurement managers go rogue? They try to act as mavericks and reach out to suppliers that aren’t part of the company’s list of pre-approved…
‘Maverick spend’ is the expense resulting from purchases made within an organization by circumventing pre-established procurement policies and other standard corporate procedures. Such rogue spending and lack of automation can cause serious losses to a company’s bottom line. As illustrated by data from APQC’s Open Standards Benchmarking in procurement, organizations that do not take steps…
According to ProcurementBulletin (PB), a web magazine devoted to helping supply chain professionals stay informed, eighty-five percent (85%) of maverick buying (uncontrolled buying) is not uncommon. In other words, very few companies have an e-Procurement system that captures the benefits of a sourcing initiative, for example contract usage and compliance. The result is maverick buying…
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