Stakeholder engagement in the procurement industry

In procurement terms, stakeholder engagement is critical at all levels. It is used primarily to gain knowledge, understanding and ideas from key individuals within the organisation.

Engaging with the right internal stakeholders can ensure procurement functions gain understanding of strategic issues, cost-saving goals, value-add, compliance and organisational input moving forward.

Procurement teams also have to be able to listen to the stakeholders whom they are engaging with, and then be ready to sell back ideas as a result of those conversations.

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