Procrastination in PROCUREMENT

Impact of Procrastination on Procurement Success

Did you ever check whether procrastination actually costs us more?

You may think that there is the little or no cost of it but, to my knowledge, procrastination can bring in significant costs, some very tangible, others more subtle.

If you talk about Procrastination in Procurement function, it impacts significantly to the Organization. I am trying to express my views about impact of Procrastination on Procurement Process to the best of my knowledge for my friends in Procurement fraternity.

Procrastination is inherited in few organization culture. Let’s see how procrastination directly impact the Organization.

When we?fail to be organized, everything around us suffers, like our tasks, role, position, co-workers etc. By delaying our coordination, we basically procrastinate the things resulting into lots of direct impact on Organization. Everyone gets digressed from the focus of Organization resulting into failure in achieving targets in time or deadlines which may become direct impact on business.

What we lose in the process is not trivial or insignificant. We lose time, we lose money and, in the end, we lose something even more important –?the trust of people around us.

No need to mention the aftereffect of this behavior. We are talking here about losing our chances to progress professionally, to learn new skills or even getting recognition for our efforts.

However, when the procrastination becomes routine of any function, it only adds another layer of stress.?By practicing it, we only get less time and more work to do.

Now let’s see something about Procrastination impact on Procurement function.

Supply risk has always been a major challenge in the procurement practice, however managing organizational needs from Procurement, understanding the importance of procurement in delivering your customer value proposition; optimizing supply chains; reducing cost and creating value while enforcing proper procurement policies is always a constant concern for procurement team.

The procurement challenges are often overlooked by even the most experienced leaders. Sometimes due to these challenges, an organization seizes new opportunities due to delayed approach.

The major challenge created by Procrastination approach in Procurement is uncertainty to buyer causing his dilemma in taking right step at right time. This not only kills the time but also not giving sufficient time for buyer to do his due diligence causing missing out several important aspects from due diligence. Even diligent or efficient Procurement professional may become restless due to failure because of procrastination approach of business leaders.

This ultimately results in failure in achieving potential cost avoidance opportunities or resulting in paying higher cost which is avoidable if dealt with proper due diligence.

Failure to manage procurement processes effectively can have a significant negative impact on organizations, it results in loss of financial and competitive health of the Organization.

I tried to be crisp in expressing these points however if we elaborate it further we can know the gravity of impact of procrastination on Procurement.