Over the last several months, IDC has hosted several virtual roundtables with sourcing and IT executives on technology sourcing and COVID-19 recovery practices. One theme that emerged is that agile sourcing practices are driving their recovery strategies.
For some, the shift to agile procurement happened out of necessity. “When COVID hit, I had to accommodate new IT procurement requests by doing master agreements in less than three hours,” one senior procurement executive told us. “But then we went back to our risk-based negotiation, doing speedy risk assessments to see where the tolerance was and whether we could mitigate risk in a contractual relationship. If we couldn’t mitigate certain risks, we did a risk advisory,” she notes. “We used a quick risk assessment of the situation to expedite negotiations or click through terms and keep going. After COVID, we’ll come out with a leaner and more practical, flexible, and agile procurement process.”
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(Insider Story)
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Source: News