{"id":2626,"date":"2009-02-04T14:30:00","date_gmt":"2009-02-04T14:30:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2009\/02\/04\/whitepaper-wednesday-minimizing-rogue-buying\/"},"modified":"2021-07-19T03:53:04","modified_gmt":"2021-07-19T07:53:04","slug":"whitepaper-wednesday-minimizing-rogue-buying","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-minimizing-rogue-buying\/","title":{"rendered":"Whitepaper Wednesday &#8211; Minimizing Rogue Buying"},"content":{"rendered":"<p>Welcome back to another installment of Whitepaper Wednesday here on the <strong>Purchasing Certification<\/strong> Blog. In today\u2019s installment, I\u2019ll be reviewing a whitepaper entitled \u201cAn Improved Spend Management Strategy: Shifting Procurement\u2019s Paradigm of Rogue Buying\u201d from WisdomNet.<\/p>\n<p>Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/p>\n<p>Rogue buying is a problem for many organizations. So I felt that this was a whitepaper addressing a good topic.<\/p>\n<p>The whitepaper almost lost my attention early. It was written in 2006, discussed a just-ended recession, and described the procurement challenges of doing business in a sizzling global economy. Not exactly the situation we face today. Yet, I had the feeling that there would be some currently valid nuggets of information in the pages ahead.<\/p>\n<p>I was right.<\/p>\n<p>The core of this whitepaper is the chapter on the \u201cSpend Management Five P\u2019s\u201d \u2013 an adaption of the four P\u2019s you may have learned if you were a business major and, therefore, had to take Marketing 101 in college. The Spend Management Five P\u2019s are people, product, price, place, and promotion. (For those of you who were spared Marketing 101, the last four are the four P\u2019s of marketing).<\/p>\n<p>In addressing the first P \u2013 People \u2013 the whitepaper focuses on analyzing spend data differently than most procurement departments do. Specifically, it says that \u201cspend analytics should become a procurement executive\u2019s customer relationship management repository, providing the information necessary to position the procurement organization\u2019s spend management strategy to serve its customers.\u201d It also stresses the importance of analyzing and engaging with internal customers in such a way as to anticipate their purchasing needs in advance.<\/p>\n<p>This section also tries to offer insight into the rationale behind rogue buying: \u201cRogues don\u2019t circumvent policy and procedure just for merriment. Rogue employees spend the way they do because they are not aware of either the contract offerings, the established guidelines, potential procurement team value-add, or because they find the current process ineffective to satisfy their needs.\u201d Again, the whitepaper highlights the value of using <a href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/leverage-the-power-of-spend-analysis\/\">spend analysis<\/a> to enable procurement professionals to become \u201cinvestigative, not judgmental policy enforcers\u201d and, as a result, \u201cminimizing the direct influence of outside vendors on employees.\u201d<\/p>\n<p>With regard to the second P \u2013 Product \u2013 the whitepaper positions the procurement department\u2019s service as the product that has to compete for market share against the alternative of rogue buying: \u201cRogue customers should have the ability to choose from internal or external sources that provide the best value with the most effective and efficient service. Taking this competitive perspective, procurement executives must build an innovative and high performing buying team\u2026Without this focus on operational excellence and client service, the procurement organization becomes a corporate bureaucracy \u2013 not an innovative source of competitive advantage.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome back to another installment of Whitepaper Wednesday here on [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Whitepaper Wednesday - Minimizing Rogue Buying - Next Level Purchasing Association (NLPA)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-minimizing-rogue-buying\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Whitepaper Wednesday - Minimizing Rogue Buying - Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"og:description\" content=\"Welcome back to another installment of Whitepaper Wednesday here on [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-minimizing-rogue-buying\/\" \/>\n<meta property=\"og:site_name\" content=\"Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2009-02-04T14:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-19T07:53:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/11\/nlpa-images-024.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1134\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Galo Matagay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Galo Matagay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-minimizing-rogue-buying\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-minimizing-rogue-buying\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"Whitepaper Wednesday &#8211; 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