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Procurement teams deal with huge volumes of complex data, which create a considerable administrative burden for the function and take up vast amounts of procurement professionals’ time. The function is among those that stand to benefit most from artificial intelligence (AI), yet it is often the poor relation of innovation – missing out on investments […]

Knowledge management is becoming critical for organisations as the current generation retires. So how can procurement leverage technology to ensure knowledge isn’t lost? “Knowledge is power,” proclaimed Francis Bacon, the English philosopher whose advocacy of the scientific method fuelled the scientific revolution. Centuries later, Dale Carnegie, the American philosopher and writer, and perhaps the father of corporate

Around 20th February 2018, fast-food chain KFC closed nearly 650 of its outlets in the UK after its new logistics partner failed to deliver the chicken its stores needed.Behind the ’chicken chaos’ headlines are some serious lessons for procurement executives, regardless of the industry or the region in which they work. What happened? On 13 February,

The supply chain and logistics discipline is all about coordinating purchasing, production, logistics, materials and transportation to ensure the supply chain functions smoothly, providing the consumer, customer or user with the company’s products in a timely, efficient and satisfying manner. Keeping a supply chain running effectively requires excellent organization, attention to detail, communication, time management,

There’s an old saying:  “People don’t quit jobs, they quit bosses.” This phrase applies to the procurement workplace as much as it applies to any workplace. In fact, this may apply to the procurement workplace just a teeny-tiny bit more than some other environments. Why’s that? Well, consider how some people become “bosses” in procurement.Many

While purchasing general or professional services, agreements can generally be categorised as being either manpower-based or outcome-based. What are manpower-based contracts? Manpower-based contracts provide buyers with clarity on the scope of work to be completed and how it needs to be done. All they buyers need is staff to fulfil their requirements. This is generally

When you are involved in an RFP process to fulfill a specific business need, one of the most critical factors while negotiating agreements with shortlisted suppliers is the duration of the contract. The business could be awarded for one year or for multiple years. While there is the obvious benefit of a one-year contract (“What

Certain professionals are expected to adhere to higher standards for behavior:  doctors, accountants, and country presidents are a few that come to mind.  Procurement professionals should also “be presidential” in their behavior. Over the past year, there has been a lot of conversation and debate about what presidential behavior is.  I’ll home in on what

Recruiting, developing and keeping the very best talent in your function is no easy task. To clarify your thinking around the issue, there are a few questions you should be asking yourself to get where you want to be. 1. Who are you?It’s natural to take pride in your company’s brand and to sell a