Maverick buying refers to a practice in which internal stakeholders bypass formal purchasing procedures within an organization. In this scenario, employees make unauthorized purchases, occasionally deviating from specified procurement protocols. The goal is to minimize or eliminate such unauthorized spending, which can lead to increased costs and inefficiencies.
Effectively addressing maverick buying involves implementing solutions that enhance transparency and establish clear assignments and approvals for various aspects such as products and prices. By employing robust procurement processes and utilizing technology to monitor and control purchasing activities, organizations can mitigate the risks associated with maverick buying.
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