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Legal Expertise is Necessary in the Procurement Process

by Global Link Law
Jun 5, 2024
legal expertise in procurement

Efficient procurement practices are essential for the success of a business or organization. A legal expert can help you effectively navigate and create procurement strategies in business situations. 

Strategies for Success in Procurement

Understand Your Needs and Goals

No matter the nature of your business or your organization, a procurement strategy should begin by clearly defining your needs. You need to be sure that your strategy is fundamentally aligned with your overall objectives. It is this type of early assessment that is foundational to crafting a successful strategy. Be sure to consider the specific goods or services required, the desired quality standards, and the timeline for delivery. Your business or organization should also set clear, measurable goals to facilitate effective tracking and management. 

Build a Reliable Process

When it works best, it should be a systematic process. Indeed, a standardized procurement process is vital for consistency and efficiency. You should be prepared to establish a series of steps that your team can follow—managing everything from the initial request to the final acquisition of goods/services. What a process entails will vary. It could include drafting clear policies, setting approval hierarchies, and defining roles for your team. 

Evaluate Your Suppliers 

One of the most underappreciated aspects of creating a process is selecting the right suppliers. Procurement is a lot easier when you work with reliable third parties. Businesses and organizations should thoroughly vet their potential suppliers to ensure they can meet all applicable quality and delivery requirements. An evaluation should include an assessment of a third party’s financial stability, reputation, production capabilities, and compliance with relevant industry standards. 

Develop a Negotiation Strategy 

Negotiation is a big part of the procurement process. Before contracts can be finalized, there are several stages of negotiation. You need a well-structured negotiation strategy. Develop a clear strategy that outlines desired pricing, terms of delivery, and after-sales service. Training your team in negotiation will empower them to secure favorable agreements that benefit your business or organization. 

Proactively Identify and Mitigate Risks

Whenever you work with third parties, you have to put some degree of trust in their hands. Given this, identifying and mitigating risks posed by third parties are both crucial aspects of a successful procurement strategy. You do not want to wait until major problems arise. Regular risk assessments allow you to respond proactively to potential issues before they disrupt your supply chain. It is also important to note that global events (i.e. COVID in 2020/2021) can severely impact the supply chain.

Analyze Your Spending Data (Performance Measurement)

Monitor and analyze your spending to gain insights into your purchasing patterns and identify opportunities for cost savings. Use performance metrics such as cost savings achieved, supplier performance scores, and purchase order cycle times to evaluate the effectiveness of your strategy. Ultimately, performance measurement is one of the building blocks of a successful procurement strategy. If something does not get measured, it can get overlooked. 

Legal Expertise is Necessary

Developing a successful strategy is not easy. Problems can arise at any point in the process. Legal expertise can make a difference. As a starting point, an attorney with procurement experience can help draft and review contracts, ensuring they are comprehensive and enforceable while aligning with both local and international regulations. Beyond that, a lawyer advisor who has procurement expertise can: 

  • Conduct a comprehensive, confidential evaluation of your process;
  • Listen to your concerns and answer questions about your options; 
  • Help you develop a strategy customized to meet your needs; and
  • Thoroughly identify and mitigate potential risks—especially from third parties. 

At Global Link Law, we are here to be your strategic partner in the procurement process. Give us a call now or contact us online for a confidential initial appointment. 


The information provided on this website is for general informational purposes only and should not be considered legal advice. No attorney-client relationship is created by accessing or using this website. Please consult with a qualified attorney before making any legal decisions. Global Link Law is not liable for any reliance on the information provided. Prior results do not guarantee a similar outcome.

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