By: Jim O’Brien
As a buyer, the primary concerns in the process related to the acquisition of technology products or services should include the following considerations:
- Project Consensus. Poor communication on the front end of procurement can cause large problems, so the participation of all internal stakeholders from the initiation of a project is critical so that with planning many problems can be avoided.
- Project Requirements. Detailed requirements and specifications will help minimize risks that arise due to poorly defined work scope or product which can lead to, among other issues: supplier disagreements, being late to the market, and disappointed customers.
- Project Expectations. Once a procurement need has been defined, the involved stakeholders need to determine and agree on realistic expectations for development, timeframes and costs.
- Project Sources. Supply chain planning should always consider the establishment of alternative relationships and supply paths to reduce risk.
- Intellectual Property Rights. Protecting rights related to intellectual property involved in procurement is critical for the buyer and attempting to minimize damage due to failure by the supplier.
