by Patrick THNG (SMU SIS)
Sourcing and vendor management need the urgent attention of senior management. The current uptick in poor and corrupt sourcing practices and weak governance provide a compelling reason.
The recent high profile cases of corruption and mismanagement involving procurement in the public sector in Singapore are a wakeup call for senior management. Although steps were taken to ensure that these mishaps, whether intentional or not, would not recur, the cases highlight the perils, reputation and perception risks that organisations face whenever they pay insufficient attention to this critical function. Damage to the morale of staff is another.
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