Independent Procurement Definition
Independent procurement is the process of acquiring goods or services without the use of a middleman. This can be done directly through suppliers or by using an online marketplace.
The main benefit of independent procurement is that it can save your business money. By bypassing traditional channels, you eliminate the need to pay commissions or markups. This also gives you more control over your supply chain and allows you to build stronger relationships with your suppliers.
There are some risks associated with independent procurement, such as not having access to the same level of support and expertise that a middleman can provide. Additionally, it can be more time-consuming to find the best deals and manage your supply chain yourself. However, these risks can be mitigated by working with a reputable supplier or marketplace.
