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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 »
A good negotiator needs not just a repertoire of strategies, tactics and techniques, but also the experience to know when and how to deploy them. One strategy – the concession strategy – lies at the heart of every negotiation as it determines how you can manage the way a negotiation plays out. Yet the concept
Winning negotiation techniques Read More »
As a procurement leader, it is important to ask the following questions: What do I know about our suppliers? What should I know that I don’t? Most businesses can tell you anything you want to know about their cust omers. Not only do companies know who their customers are, organisations also know their clients’ wants
Four reasons why procurement cannot afford to ignore vendor management… Read More »
