There’s often friction between Procurement and other functions. Stakeholders see an overemphasis on short-term savings as a threat, which destroys business value. Procurement should be more than an efficient tendering machine. And in many organisations Procurement started the journey towards a more strategic approach many years ago. Most teams, though, still have a long way […]
Here Is a Quicker Way of Getting Better Supply Market Insights
Sales people spend a lot of time and effort understanding their target markets and prospects. Meaningful insights mean better sales strategies and more sales. Similarly, procurement professionals need a good understanding of the supply markets they operate in. These insights will shape sourcing strategies, which in turn will put the buying organisation in the best […]
Is It Time to Renegotiate Your Supply Contracts?
Your supply contracts are important. They govern your commercial relationships. However, after they have been negotiated and filed, they are often forgotten about. Years may pass by and business contexts may have changed. Contracts that were once fit for purpose may no longer be suitable or protect the organisation adequately. It is, therefore, necessary to […]
How to Remove Hidden Costs by Streamlining Your Procurement Processes
There are costs that are plain for everyone to see, and then there are costs that may be less obvious. For example, costs associated with sub-optimal procurement processes could represent a substantial unnecessary expense for your organisation. But how do you identify such hidden costs? And more importantly, how do you eliminate them? First consider […]
How to Negotiate Great Supplier Contracts
Negotiation has traditionally been seen as the “raison d’être” for procurement professionals. While the profession adds value in a variety of ways, the ability to negotiate well remains a core skill – love it or loath it! Preparation is everything when it comes to negotiating a favourable outcome. There are a number of ways of […]
