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Signs You Need to Outsource Your Procurement

Jan 10, 2023 | Procurement

Making the decision to outsource your procurement is a significant one.

You’re handing over control. You’re putting trust in a procurement provider to source, not just the right products, but high-quality products that you can put your business name to.

Trust us. We get it.

However, we know for your business to adapt effectively to the ever-changing business landscapes, outsourcing your procurement is now moving from a nice-to-integrate to a must-integrate if your business is to grow successfully.

To positively grow and scale while keeping tight control on costs and risks.

But where do you start? And what should you look for in a professional and experienced procurement partner?

GHL can help.

In this post, we not only offer a robust procurement solution but also highlight the benefits that outsourcing brings you and the signs you need to work with a procurement partner like GHL.

Signs that you need to outsource your procurement

Overwhelmed Procurement Staff

Are your procurement team constantly overworked? Struggling to keep up with the increasing demands of the business? Drowning in paperwork and supplier queries?

Outsourcing your procurement can help.

Alleviating some of the burdens and supporting increased business efficiency without exhausting further resources.

Lack of in-house expertise/resources

Often in-house procurement teams can lack the necessary skills and expertise to manage the procurement process effectively. 

Outsourcing can provide you with specialist knowledge and years of experience that can be difficult to acquire internally—supporting you to maximise business performance and taking your business to the next level of growth.

High procurement costs and low savings

If procurement costs are high and savings are low, outsourcing procurement can help.

By streamlining purchasing processes, specialist procurement teams can reduce costs and increase savings through economies of scale, expertise, and robust networks and systems.

Inadequate supplier management processes

If your company struggles to effectively manage its suppliers and ensure that they are meeting the agreed-upon terms and conditions, outsourcing procurement can help simplify supplier management processes and, most importantly, ensure that risks are minimised.

Minimising these risks can save valuable time and money, and reduce stress and anxiety.

Inefficient procurement processes

If procurement processes are slow, manual, and prone to errors – outsource your procurement.

Helping you to streamline processes, automate manual tasks, and reduce errors, outsourcing, and having the right contracts in place can protect you and the suppliers involved in the process – creating a smooth delivery of products and services.

Inability to effectively manage risk and compliance

If your company is struggling to ensure that its procurement activities comply with relevant regulations and that risks are effectively managed, speak to GHL.

Specialists in outsourced procurement, we provide you with specialist, in-depth knowledge and expertise in these areas to keep your business running smoothly.

Poor supplier relationship management

We understand that communication for any successful supply chain is key. And we know that many companies struggle to build and maintain strong relationships with suppliers.

That’s why so many now look to outsource procurement—improving lines of communication, resolving conflict, and ensuring that supplier relationships are managed effectively.

Challenges in achieving cost savings and budget management

Procurement professionals help to optimise processes, reduce costs, increase savings, save time, maximise performance, and increase opportunities, through economies of scale and expertise.

Avoid the ongoing challenge of achieving cost savings and managing the procurement budget effectively, with a procurement partner you can trust.

Offering you an all-in-one solution, we help our customers grow product ranges and scale their businesses by providing robust, reliable, and trustworthy processes that offer international procurement solutions.

Supporting you with product development, product sourcing, supply chain management, and logistics, effective procurement is now only a step away.

Call +44 2922 671 826 or email [email protected] with your requirements to increase efficiencies, reduce waste, and boost your profit margins.

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