Buying B2B services is very different from buying physical goods and, therefore, requires a different approach. Goods are tangible – you can touch them, test them and quality approve before they are shipped. So, with the right due diligence in place, there is a high degree of certainty in terms of what you get when […]
How to Negotiate Scientific Journal Subscriptions in a £19 Billion Oligopolistic Supply Market
The supply market for scientific journal subscriptions is unlike most other supply markets. Free content, based on publicly funded research, is transformed into premium digital subscriptions by an oligarchy of commercial publishers with net profit margins well above 20%. The oligopoly is being challenged by the Open Access and Open Science movements, and changes are […]
Building Business Resilience: How Procurement Plays a Critical Role
Right now, the focus is very much on business resilience. And for good reason. COVID-19 has disrupted long and complex supply chains and Just-In-Time systems like never before. So, what can Procurement do to help build this “new” element of competitive advantage called “business resilience”? In my view, there are two key areas where the […]
Use Contract Management to Get Value. Use Audits to Fix Root Problems
Compliance and getting value are challenges Procurement has always had to deal with. Are we really getting the rebates, credits and other benefits our organisations are contractually entitled to? If nobody audits and manages the supplier contract, money and business value will almost certainly be left on the table. But how far do you go […]
Has Procurement REALLY Evolved Beyond Saving Money?
What is the purpose of Procurement? The old school purpose of procurement was to save and cut costs. But we are now in 2020, and for at least the past two decades, there has been much talk about the need for Procurement to re-evaluate its purpose and work with business leaders to develop category plans […]
