Article

PRICING DELIVERY & SERVICE LEVELS SHIPPING PAYMENT WARRANTY TERM & TERMINATION GENERAL & INFORMATION REQUIREMENTS SUPPLIER OVERSIGHT LIABILITY & LEGAL MATTERS VALUE‐ADDED SERVICES SOCIAL RESPONSIBILITY

The practice of sourcing materials, labor and expertise for the large-scale production of value-added goods stretches back through recorded history, leaving no doubt as to the importance of procurement and supply chain to the development of complex societies. Beginning with the ancient Greek, Roman, Chinese and Mesopotamian civilizations, leading up to the Middle Ages, the

The role of Procurement is to ensure the cost-effective, timely, risk-free, acquisition of Mission Critical Raw Material Inputs in support of Organizational Goals and Objectives. Procurement Functions are sub-sets of broader Supply Chain Mechanisms and must work in close synergy with Suppliers, Manufacturing, Logistics, Research and Development, Finance, Sales and Operations Planning, Marketing, and Customers. The following

There is a great number of reports, articles, and studies done on Intelligent Procurement. This is indeed a rapidly evolving science. For context, it is prudent to define the Concept of Value, Value Chains, and Value Streams. Value has 3 components: Value Streams are Supply Chain and are: The degree of automation in supply chains

The effective management of contract management is a major responsibility of the Procurement Function. Procurement Professionals are expected to protect their organizations from risks related to spend management and the support of operations. The identification of Critical Points of Failure (CPFs), mitigation strategies, and tactics deployed to protect our supply chains from the negative impacts

The relationship between finance and procurement is critical. Yet tension between the two teams still plagues many organizations – and as procurement’s role in the executive suite grows, tensions may boil over. At the heart of the issue: today’s procurement teams are tasked with more bottom-line responsibilities than ever. In a perfect world, CPOs( Chief

What do your procurement people get paid to do? It’s the sort of question that often prompts Procurement Head’s to quote back their team’s job descriptions. So far so good, at least to the extent that the job description has kept pace with reality and the demands of the business. Usually, that’s not a problem

Spend Management is a vital element of Supply Chain Sustenance and Effectiveness. The management of spend in an organization falls under the Mandate of its Finance and Procurement Functions. To elaborate, the mandate of the Procurement Function is threefold: One Key Performance Indicator of the Procurement Function is the Total Cost of Ownership (TCO). TCO is calculated by adding

RFP’s should be crafted for maximum response from qualified suppliers. They shouldn’t be written in a way that scares off suppliers who could create value for your organization. Suppliers have limited time, too, ya know! Therefore, it is key to make sure that all questions in your RFP’s are relevant, appropriately timed and necessary.  As

Capital expenditure has always been on the high priority list of every CFO agenda. Globally, the attitude towards capital spending is also taking a leap. The investment decisions regarding CapEx are critical not only because of the size of spend, but also from the point of view of an organization’s strategic goals. It has been