In our previous blog, Navigating Procurement Challenges in Today’s Landscape, we discussed some of the greatest challenges facing public procurement teams today. From the looming fiscal cliff to AI hesitations, it’s no secret that public procurement is facing change.
With these impending developments comes an opportunity for growth and innovation–leading us to introduce you to network-powered procurement.
You don’t have to face challenges alone. In fact, your network can be your greatest ally in navigating the shifts of the public sector effectively.
Leverage Your Network for Support
Strength truly lies in numbers. While we often get caught up on a narrow, one-way road to “get the job done,” we miss the fact that real value is found in the people that surround us.
Leaning on fellow procurement professionals provides insights to help you navigate the changes, present or future, your organization may face. By leveraging technology to reach real people for their insights and best practices, you open new ways to make the most of your current resources or explore new options altogether.
What is Co-Procurement?
One effective way to kickstart your collaborative approach is through co-procurement. Where network-powered procurement involves leveraging any resources available from fellow procurement teams, co-procurement specifically focuses on joint solicitations to pool demand or leveraging piggy-backable contracts from other agencies or cooperatives.
Co-Procurement: An Easy Way to Team Up with Your Peers
By leveraging co-procurement, you’re joining forces with other organizations to buy goods and services together. You can pool resources, standardize needs, and negotiate better deals. Not only can this approach save you money, but it also leads to more favorable terms and faster purchasing processes. Consider using purchasing cooperatives as a resource; they streamline the process, making your life a lot easier.
Euna Procurement offers free collaboration tools that include thousands of cooperative purchasing options and peer RFx templates. We make it simple to access ready-made resources and contracts.
Utilize Marketplaces for Smart Spending
Another tool in your procurement toolkit is procurement marketplaces. These platforms allow your internal staff to shop for what they need from a catalogue of pre-approved suppliers, helping to ensure compliance and increase efficiency—making them rapidly increasing in popularity in the public sector. Instead of rummaging through outdated spreadsheets or lengthy documents to find contracts, marketplaces allow staff to quickly locate what they need while ensuring compliance and visibility on spending.
These modern procurement solutions can transform your strict procurement rules for purchasing into something as convenient as online shopping for your staff. They help you ensure that you’re spending wisely with pre-approved suppliers and give you a chance to compare prices and products easily.
Euna Procurement’s Marketplace offers an AI-powered savings advisor, which can automatically optimize your shopping cart for cost efficiency—perfect for those tight budgets in uncertain times.
Explore and Join Forces with Your Peers
With the rapid pace of technological change, feeling unsure about new tools is completely normal. By engaging with your community, you can build the confidence you need to implement the right solutions. Real-world experiences shared amongst your peers take the fear out of trying something new.
Participating in industry forums, conferences, or professional networks isn’t just about learning; it’s also about sharing your thoughts and challenges. This kind of collaboration can spur innovation and help your teams adopt new technologies while being mindful of risks.
The importance of working together cannot be overstated. By building network-powered procurement, you not only enhance your own processes but also pave the way for greater public service benefits. Initiatives like NIGP’s “AI in Public Procurement” Community show how procurement professionals are coming together to face challenges and explore innovative tools.
By collaborating, you and your team can prepare for future challenges and seize new opportunities. Remember, success in procurement is a team effort—let’s make the journey together!
Want to learn more about the network-powered approach to procurement? Read our 2024 State of Public Procurement report today!
