How Procurement Can Evolve into a Strategic Advisor for Legal Teams
Procurement teams have ceased to be about purchasing. They are emerging as reliable risk management advisors, contract shapers and assisting legal departments in peering into the future. That change begins with solid backing of established Procurement Consulting Services that are founded on actual challenges and results. The reasons why legal teams should have procurement as a strategic partner? Compliance and protection are common in the legal teams. However, they should also have an understanding of supplier behaviour, price trends and contract value. It is at this point that a Strategic Procurement Advisor comes in. They carry data and supplier expertise that can be used by legal teams in the process of formulating or revising terms. What is really strategic about procurement input? It is not about policy. It is about impact. An effective Strategic Procurement Analyst offers profound understanding of the spend trends as well as the risk exposure and market dynamics. T...