Art of Procurement

570 : Procurement 6 | March 17th, 2023

Mar 17, 2023
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ADVICE

Lengthen Your Risk Time Horizon

  • Adopt longer time horizons to capture risks like climate change.
  • Expand supply chain risk registers beyond near-term crises to include future threats.
ADVICE

Partner With IT To Manage Shadow Spend

  • Emily Campbell urges involving IT early and removing the "iron curtain" with transparent policies and processes.
  • Treat budgets like venture capital and apply OKRs, workflow tools, and negotiation support to govern shadow spend.
ADVICE

Engage People And Plan Ahead

  • Helen Mackenzie recommends engaging stakeholders early and planning ahead to manage shadow spend.
  • Use transparent frameworks to show gates, build cases, and negotiate at decision levels.
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