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Success in negotiation requires careful preparation and planning. The following are the 10 Critical Steps for Negotiation Preparation: Setting Targets This article focuses on the third step in preparing for a negotiation: setting targets for each issue you identified. A target is a goal that you want to achieve for a particular issue. If a […]

Trend #1- Procurement with a purpose accelerates For many, the reality of our climate emergency was brought into sharp focus in 2020, as a result of, and even prior to, the escalation of the COVID-19 pandemic. For example, the worldwide financial sector understands that the investment risk of global warming is real and even before

Forward thinking business leaders are exploring how procurement can bring new opportunities for growth, as they become increasingly aware of the huge potential that exists in the upstream supply base. That potential can manifest itself in many ways, but organizations that remain fixated on driving cost from supplier contracts alone will be at a significant

Trend #1- Procurement with a purpose accelerates For many, the reality of our climate emergency was brought into sharp focus in 2020, as a result of, and even prior to, the escalation of the COVID-19 pandemic. For example, the worldwide financial sector understands that the investment risk of global warming is real and even before

Purchase to Pay risks are the enemy of any P2P project. Understanding them and knowing how to tackle them increases your chance of success.  Sweep them under the carpet. Cross those bridges when you get to them. Leave it for another day. This is exactly what your consultants will do. And this is why implementation projects

Indirect procurement of goods and services can be one of the largest areas of expenditure in any company.  And the operational impact that the provision of Indirect goods and services can have on a company can be significant, either positively or negatively. Yet the lack of attention and focus that Indirect Procurement is often given

Procurement and Procurement Spend. Purchasing. Commodity Management. Category Management. They are all running their own businesses within their companies, or at least they should be, whether they realize it or not. Goods and services spend in many companies is the largest, or one of the largest, expenses. And all of this is managed by Procurement

Competition is fierce. Your company needs every advantage it can get. And needless waste from your procurement processes only eats up valuable resources and holds you back. Without an effective and reliable supply chain, your business risks unnecessary delays. Your customers and clients will wait longer for goods and services (or they may not receive

Category Management is the management of a grouping of similar items which an organization desires to procure under a single deal. This powerful methodology executes and is underpinned by the following: Table 1 demonstrates the correlation of Category Management Best Practices. Table 2, Distribution of Spend Management Table 3, Spend by Category Table 4, Percentage

Visibility Step 1 is to get good spend visibility and understand what you are buying and how much you are spending across all your spend categories. Without visibility of spend you cannot progress. Many companies have limited or no visibility of spend that is equivalent to 20% of their revenues in value. These frequently ordered