Pros and Cons of Crowdsourced Procurement
Budgets, Spend Management and Collaboration are Key to Procurement
Crowdsourced Procurement follows principles and business models of the Share Economy.
The other form of crowdsourced procurement is to turn to the people who the procurement affects to decide the plan of action.
In one recent example, the state of Alaska created an online game allowing residents to hypothetically map and predict how their plan of spending would work out. The state plans to draw from these results to find the answer to its savings problem.
While this is procurement on a higher government level, it can still apply to corporations. If the procurement department is at a loss of how to tighten spending or find diverse suppliers, they can turn to the other professionals in the company for a crowdsourced solution.
From governments to corporations and small business…
Procurement uses Collaboration and Applications
Sizing the revenue opportunity $335 billion: the potential value of the main sharing economy sectors by 2025
Procurement used to be such an isolated activity, but its importance has thrust it into using collaboration.
When anyone can procure goods and services for the organization at large, everyone sees the benefits.
And procurement becomes a process that helps everyone, making crowdsourced functionality a natural step in the modern definition of this industry.
Are you “crowdsourced-ready” ?