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Talent is one topic that is always on the radar of CPOs (chief procurement officer). Sometimes procurement chiefs discuss a ‘shortage of talent’, which can refer to a lack of appropriately qualified candidates for open positions or headcount shortages. Other times, they talk of a ‘talent mismatch’ between the people in their teams and the […]
The hidden talents within your procurement team !!! Read More »
When it comes to running competitive events and soliciting suppliers, electronic sourcing (e-sourcing) tools can be a procurement professional’s best friend. With so many e-sourcing tools on the market, selecting the right tool can be a challenge and requires a firm definition of what your company is looking to get out of its e-sourcing tool.
E-Sourcing: Finding The Right Solution for Small & Medium-Sized Businesses !!! Read More »
In today’s business world, there’s a desire to have your good suppliers stay in business. This desire often tempers how aggressive procurement professionals are when negotiating with certain suppliers. Most suppliers could remain solvent even if they anointed your organization the one customer they no longer charge. But some suppliers’ viability could be threatened by
How Much Negotiation Mercy Should You Give To Spineless Suppliers? Read More »
People are often surprised, and a little intimidated, when they learn that my research expertise is in negotiations. They remark, “but you are so personable … transparent… straightforward.” And I think, “It’s too bad that’s a surprise. . .” This is probably because most people think of negotiators, and by extension negotiations, as showy and
6 Ways to sharpen your every day Negotiation Skills !!! Read More »
Ah, after summer breaks. It’s that glorious time when kids go back to school. Time for them to refocus on improving skills related to the “three R’s” of education: Reading, ‘Riting, and ‘Rithmetic. It might also be a good time to pay attention to the reading, writing, and arithmetic involved in your procurement. Here are
How Procurement Can Go “Back To School” Read More »
By 2020, millennials, or Generation Y, will make up over half of the global workforce. Attracting the best and brightest of this group is key to procurement’s future success, yet many of this generation still don’t know what procurement is or what it does, making it more challenging to bring those people in.Procurement must begin
How can procurement become more desirable to Generation Y? Read More »
One thing procurement has often struggled with is selling itself to the rest of the business. While the temptation is to focus on facts and figures that demonstrate value, perhaps it may be better to take a more creative approach. Marketing teams have tended to use stories rather than statistics to help raise their profile
Selling the story of procurement – Tips for reporting purchase activities !!! Read More »
Negotiations can be a fraught process. Both supplier and buyer tend to look for an advantage over the other. In truth, both should be looking to see if they can win together. To achieve this, procurement is increasingly looking towards different theories, most notably ‘Game theory’. In order to work, its principles need to be
Applying game theory to procurement’s negotiations !!! Read More »
22% of CPOs intend to direct more resources towards supplier relationship management (SRM) in 2017, according to Procurement Leaders’ most recent Trend Report, highlighting the importance that CPOs are placing on improving the relationships their functions have with suppliers. A fully engaged supply base is vital to a procurement function. It can help deliver new
How to build successful supplier relationships Read More »
While the word innovation means different things to different organizations, companies are unanimous in agreement that, today, innovation needs to become the bedrock of the business – whether it’s a new piece of technology, a more efficient way of doing things, or simply a new approach that tackles an age-old problem. Businesses are increasingly turning
How collaboration can lead to innovation !!! Read More »
