There are a number of ways to limit duplicates and overspending:
- Make sure all employees with buying power use one system.
- Make sure Finance and Procurement departments work together.
- Make sure items are being used and not languishing on a shelf.
- Maintain accurate, up to date inventory reports and information.
Making it easy for employees to find what they need and make informed purchases from preferred suppliers within procurement systems - and doing that without excessive administrative time and expense - is also essential for ensuring purchase compliance.
Overspending will persist if management isn't taking a hard look at what they've already bought, or if everyone in the company who can make such purchases isn't talking to each other.
Ultimately, the best way to eliminate waste – whether for a new company, or an existing one that wants to get rid of its duplicates and start with a fresh slate – is to "know yourself."