{"id":2888,"date":"2010-07-12T18:24:00","date_gmt":"2010-07-12T18:24:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2010\/07\/12\/procurement-myth-5\/"},"modified":"2021-07-27T08:31:01","modified_gmt":"2021-07-27T12:31:01","slug":"procurement-myth-5","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-myth-5\/","title":{"rendered":"Procurement Myth #5"},"content":{"rendered":"<p>I hope that you have enjoyed the article \u201cThe 4 Worst Procurement Myths.\u201d<\/p>\n<p>Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/p>\n<p>I\u2019ve actually saved one more myth for this blog. That Myth #5 is \u201c<strong>Partnering with a single supplier is always the best approach.<\/strong>\u201c<\/p>\n<p>While using a single source can lead to benefits such as higher discounts due to fully-leveraged volume and streamlined communication, single sourcing can be very risky. What happens if supply from that single source is disrupted? Dual sourcing can offer highly leveraged volume while giving you a backup plan if one supplier fails to perform.<\/p>\n<p>As mentioned in the article, the deadline for getting a 10% discount on Next Level Purchasing\u2019s brand new online training offering: \u201cThe Finance For Strategic Procurement Series!\u201d is coming up fast \u2013 July 14, 2010. The Finance For Strategic Procurement Series consists of two online classes that will help you comprehensively understand how to apply financial principles in your daily procurement work for better workplace results.<\/p>\n<p>The Finance For Strategic Procurement Series is divided into two parts. Part I focuses on understanding financial statements and measuring and communicating a procurement department\u2019s contribution to the organization. Part II focuses on how financial decisions are made and evaluating supplier health. You must complete Part I to be eligible to enroll in Part II.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I hope that you have enjoyed the article \u201cThe 4 [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2888","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>Procurement Myth #5 - 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\/procurement-myth-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Procurement Myth #5 - Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"og:description\" content=\"I hope that you have enjoyed the article \u201cThe 4 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-myth-5\/\" \/>\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=\"2010-07-12T18:24:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-27T12:31:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/11\/nlpa-images-028.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1340\" \/>\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\/procurement-myth-5\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-myth-5\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"Procurement Myth #5\",\"datePublished\":\"2010-07-12T18:24:00+00:00\",\"dateModified\":\"2021-07-27T12:31:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-myth-5\/\"},\"wordCount\":223,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#organization\"},\"articleSection\":[\"Procurement\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-myth-5\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-myth-5\/\",\"url\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-myth-5\/\",\"name\":\"Procurement Myth #5 - 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