Procurement has become a strategic function for businesses seeking to optimize spend, reduce costs, and mitigate supplier risks. However, many organizations struggle to justify hiring a full-time procurement leader or building out an entire in-house team. This is where fractional procurement comes in – gaining procurement expertise on-demand through flexible consulting arrangements.
So what exactly is Fractional Procurement?
Fractional procurement utilizes specialized on-demand talent to complement teams. Experts parachute in on a project or hourly basis, so you only pay for time used - no ring required!
Why would you consider it?
Sourcing complexity demands niche skills and analytical firepower. But permanent hires have drawbacks amid fluctuating workloads. Fractional talent scales up or down to match needs. You can test drive different capabilities. It's more suited for Medium sized companies that have significant spend with budget constraints to hire a big in-house procurement team.
The Benefits of Going Fractional:
- Cost-effective – Pay-as-you-go flexibility without expensive overhead
- Scalable – Dial talent up or down to align with changing initiatives
- Nimble Access to Niche Expertise – Plug short-term gaps without long-term vows
- Speed - Deploy targeted help rapidly without protracted hiring lags
- Objectivity – Third-party insights provide an unbiased fly-on-the-wall perspective
The future points to more fractional adoption as leaders embrace agile access to expertise. Want to upgrade procurement without commitment? Maybe it's time to test drive fractional talent.
Curious about how you can enable your organization using fractional procurement? Send me a message... https://www.procsolve.com