Sourcing, procurement and vendor management (SPVM) leaders who lack the time and resources to focus on data analytics, stakeholder communication and training are unable to play a more strategic role in enabling business objectives.
Insufficient resources and unclear processes prevent SPVM teams from supporting their business partners effectively. This leads to suboptimal sourcing outcomes and maverick buying.
SPVM leaders often have limited visibility into pre-contract vendor market data and post contract vendor performance data, limiting their ability to influence and support stakeholder decisions.
Source: Gartner, Create an IT Sourcing, Procurement and Vendor Management Center of Excellence for Agility and Growth, Yanni Karalis, Luke Ellery, 8 February 2021.