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E-Sourcing: Finding The Right Solution for Small & Medium-Sized Businesses !!!

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. […]

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How Much Negotiation Mercy Should You Give To Spineless Suppliers?

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

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6 Ways to sharpen your every day Negotiation Skills !!!

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

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How can procurement become more desirable to Generation Y?

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

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Selling the story of procurement – Tips for reporting purchase activities !!!

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

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How to build successful supplier relationships

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

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