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Traditional procurement processes can be characterized by manual and resource-intensive activities. Even where some automation is in place, there can be unacceptable levels of manual transactions and activity to address exceptions, ad-hoc purchases or specific project requirements. Plus, many companies still use very traditional tools, such as to engage with their suppliers. This activity, not […]

Correcting poor supplier performance is the other side of rewarding good supplier performance. When it is evident through your rating methodology that a supplier’s performance is inadequate, you need to meet with that supplier to improve performance. Some things to keep in mind when taking corrective action include: Resolution Setting An example of the formalization

Preparing for the purchasing job interview can be daunting. Many candidates still commit a lot of mistakes during their purchasing job interviews. Ensuring that your resume does not get lost in the shuffle is an accomplishment in itself—the volume of people looking for work and bombarding job postings with their resumes. If you get a rare purchasing

Purchase to Pay risks is 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

Every company knows what they sell.Sales departments know, finance know, even the CEO knows the top level numbers.Compare that with how many companies truly know and understand what they’re buying.It’s shockingly few. And yet, especially in many manufacturing industries, goods and services associated with the cost of production can account for over 50% of a

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