As a buyer, the primary concerns in the process related to the acquisition of technology products or services should include the following considerations:
- Project Consensus. Poor communication on the front end of procurement can cause large problems, so the participation of all internal stakeholders from the initiation of a project is critical so that with planning many problems can be avoided.
- Project Requirements. Detailed requirements and specifications will help minimize risks that arise due to poorly defined work scope or product which can lead to, among other issues: supplier disagreements, being late to the market, and disappointed customers.
- Project Expectations. Once a procurement need has been defined, the involved stakeholders need to determine and agree on realistic expectations for development, timeframes and costs.
- Project Sources. Supply chain planning should always consider the establishment of alternative relationships and supply paths to reduce risk.
- Intellectual Property Rights. Protecting rights related to intellectual property involved in procurement is critical for the buyer and attempting to minimize damage due to failure by the supplier.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.