Spot Buy

A Spot Buy refers to a one-time, often unplanned purchase made to meet an immediate need, typically outside of established contracts or preferred supplier arrangements. These purchases are common for non-recurring requirements or emergency situations.

Characteristics of spot buys include:

• Urgent or immediate need
• Non-recurring or infrequent requirement
• Often low-value, but can be high-value in emergencies
• May bypass standard procurement processes
• Limited negotiation leverage due to time constraints
• Potential for higher prices compared to contracted rates

While sometimes necessary, excessive spot buying can indicate weaknesses in planning or contract coverage. Procurement software helps manage spot buys through simplified requisitioning tools, quick quote capabilities, and analytics that identify frequently spot-bought items suitable for strategic sourcing or catalog inclusion.