whitepapers 101 Measures to reduce maverick buying and increase effectiveness

Intro
Maverick buying, also known as wild shopping, is a phenomenon in which employees of an organization make their own purchases outside of agreed-upon procurement processes. This can lead to ineffectiveness, inefficiency and unnecessary costs. To address this problem, we have set out 101 actions that companies can take.

Some measures could be:

• Implement a centralized procurement system
• Develop a purchasing policy that clearly outlines the approval process for all purchases
• Create a preferred supplier list to limit purchases from non-approved vendors
• Implement a system for registration, reporting and resolving purchasing disputes
• Establish a process for reviewing all invoices before payment is made

By implementing these measures, companies can reduce maverick buying and increase the effectiveness of their procurement processes.