Procurement Tactics

MARCH 26, 2023

Open tendering, also known as competitive bidding, is a process aimed to purchase goods or services at the lowest possible price. It is a common type of tender that stimulates competition and minimizes discrimination. Those who have submitted a bid but have not been invited are likely to be ignored.

Bidding 197

Bidding Suppliers Competitive bidding Price 197

Spend Matters

FEBRUARY 13, 2025

Procurement got its spend analytics tool and was soon delivering insights that both opened the eyes of the companys leadership and gave Procurement more leeway to implement its next piece of procurement tech: an e-bidding platform to drive more competitive sourcing, enhance the RFP process and drive competitive tension among suppliers.

Influencing 103

Influencing Procurement supply chain budgeting Strategic sourcing 103

Procurement Tactics

AUGUST 29, 2022

E-tendering or electronic tendering is the process of using e-procurement platforms to automate solicitation bid tenders and assess suppliers. . It also lets the parties generate and exchange documents with e-signatures and messaging, and evaluates bidding suppliers for procurement opportunities. . What is E-Tendering? Do I need it?

Competitive bidding 130

Competitive bidding Bidding Contract Suppliers 130

ivalua

JUNE 11, 2019

At some point, there was a need for this, a solicitation process to select a supplier, a competitive bidding process, a contract negotiation, transactions and so on. Some of the solution highlights for state and local solution include: Public Portal: Public catalogs, FOIA & bid protest management, optimized search.

Procurement 169

Procurement e2e Real-time Visibility Competitive bidding 169

Jaggaer

FEBRUARY 5, 2025

Strategic Sourcing Strategies Techniques Deployed by Leaders in S2P Procurement leaders use advanced sourcing strategies to stay competitive. Some of the most effective techniques include supplier segmentation, e-auctions and competitive bidding, collaborative negotiations, and data analytics for demand forecasting.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Real-time Visibility 52

ivalua

JULY 21, 2021

“Partnering with Consus Global and our successful deployment of Ivalua will accelerate our progress in supply chain optimization at REV Group by applying a powerful toolset of data, supplier management, and competitive bidding capabilities to our team,” says Rob Vislosky, Chief Supply Officer of REV Group. “We

Supply Chain Efficiency 130

Supply Chain Efficiency Supply Chain Optimization Supply chain Competitive bidding 130

Spend Matters

DECEMBER 12, 2022

Thoma Bravo emerged from a competitive bidding process to announce its forthcoming acquisition of Coupa," said Jason Busch, Spend Matters founder and CEO. "This is an all-cash transaction with an enterprise value of $8.0 Upon completion of the transaction, Coupa will become a privately held company," explains the press release.

Competitive bidding 107

Competitive bidding Spend management Bidding Buyers 107

Procurement Templates

OCTOBER 28, 2023

The 3 Quotes Process, also known as three-bid procurement, is essentially a structured way of shopping around for what you need from suppliers, similar to how a price comparison site might operate. Instead, it involves directly going to a specific supplier or selecting a supplier without going through a competitive process.

Competitive bidding 130

Competitive bidding Bidding Price Suppliers 130

Supply Chain Collaborator

SEPTEMBER 14, 2018

TMS Solution: Competitive Bidding Environment for Spot Market Quoting in TMS. A strong TMS solution provides spot quote automation delivering tenders to an easily expanded group of carriers and capturing competitive bids on exigent shipments. Yet, that doesn’t mean shippers must pay more than they absolutely have to.

Logistics 79

Logistics Competitive bidding Bidding Risk management 79

Supply Chain Collaborator

OCTOBER 30, 2018

UltraShipTMS Technology Unleashes the Power of Competitive Bidding to Drive Freight Spend Down and Increases Access to Scarce Truckload Capacity. Once tenders are submitted, a shipper enjoys real-time visibility into all the bids proffered by participating respondents.

Competitive bidding 60

Competitive bidding Bidding Real-time Visibility Data 60

Procurement Tactics

JULY 21, 2022

Leverages competitive bidding. A procurement portal offers a variety of ways for stress-free bidding management. Shelf/service life of their product. Average lead time. Compliance with quality standards. Incoterms or delivery terms. Necessary storage conditions.

Procurement 147

Procurement Procurement solutions Bidding Competitive bidding 147

Procurement Templates

JANUARY 17, 2024

Tendering Procedures: USA: Competitive bidding is a common practice, and there are various types of procurement methods, including Request for Proposals (RFPs), Request for Quotations (RFQs), and Invitation for Bids (IFBs).

Procurement 130

Procurement supply chain budgeting Export Competitive bidding 130

Supply Chain Collaborator

JANUARY 11, 2019

Now here’s the logistics life hack! Instead of using your UltraShipTMS spot quote tool as you normally would (to drive competitive bidding amongst carriers for expedited loads), leverage the tool as an analytics device and gain insight into where your contract rate should be in real time. You’re just not seeing it yet!

Logistics 79

Logistics Competitive bidding Bidding Contract 79

Procurement Tactics

JANUARY 13, 2023

Additionally, procurement can be done through direct purchase, competitive bidding, or tendering process while ensuring that the delivery of supplies is on time. For many professionals, procurement means the process of identifying, shortlisting, selecting, and buying the necessary goods or services from a supplier. .

Procurement 171

Procurement Chief Procurement Officer Strategic sourcing Strategic sourcing 171

Arkestro

JUNE 26, 2024

They explore how effective competitive bidding and the use of AI-driven tools can significantly enhance operational efficiency and cost-effectiveness. Webinars / Arkestro Advisory Council: Logistics Arkestro Advisory Council: Logistics With thought leaders from Accenture and a live case study with GAF.

Logistics 52

Logistics Competitive bidding Bidding Procurement strategies 52

Supply Chain Game Changer

APRIL 28, 2020

Single source decisions are usually the result of a quotation or bidding process after which all candidate suppliers are narrowed down to one. In the case of single sourcing a competitive bidding process is usually conducted before a business aware. What are the Pros and Cons of Single Sourcing or Sole Sourcing?

Sourcing 82

Sourcing Bidding Supply chain Suppliers 82

Vested Way

MARCH 25, 2019

Reviewing RFx Bidding Methods: Which Ones are Right for You? Article by Kate Vitasek publishedMarch 2019 in Contract Management Magazine Every day, companies use well-known, tried and true competitive bidding methods to choose their suppliers.

Contract management 40

Contract management Contract Competitive bidding Bidding 40

The Good Spending

OCTOBER 17, 2021

Competitive bidding may become bad procurement practice The use of competitive bidding remains an established practice. This happens despite the well-known Kraljic matrix recommendation to exercise competitive bidding selectively, e.g., for leverage items.

Competitive bidding 40

Competitive bidding Bidding Procurement Quantity 40

Arkestro

JANUARY 9, 2024

Learn how you can optimize the sourcing process, from generating supplier and price recommendations to facilitating competitive bidding, providing dynamic feedback, and the final awarding process.

Competitive bidding 52

Competitive bidding Procurement Supplier negotiation Bidding 52

Arkestro

MAY 28, 2024

RFQs are typically more detailed than RFIs and focus on obtaining competitive pricing bids from suppliers. The advantages of using an RFQ in procurement operations include facilitating price comparisons, encouraging competitive bidding, and ensuring transparency in the purchasing process.

Competitive bidding 52

Competitive bidding Procurement Strategic sourcing Strategic sourcing 52

Planergy

MARCH 10, 2025

Ask for New Bids It is a good practice to request fresh quotes or conduct competitive bidding with suppliers every few years. Regularly reviewing supplier contracts can uncover potential savings.

Strategy 52

Strategy Management Budget Spend management 52

Barkers Procurement

JANUARY 23, 2024

The RFP document was built using a combination of Barkers’ knowledge base of IT Transformation bids and by working extensively with the client’s transformation team to determine their specific technical needs and governance requirements. Suitable vendors were approached and pre-validated. A BAFO process then followed this.

Bidding 52

Bidding Procurement Competitive bidding Negotiation 52

World of Procurement blog

APRIL 23, 2024

This can range from competitive bidding to direct negotiations. Competition involves inviting multiple suppliers to bid for the contract, promoting transparency and ensuring value for money. Market Analysis: Understand the market dynamics, supplier landscape, and trends affecting your procurement needs.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

World of Procurement blog

APRIL 23, 2024

This can range from competitive bidding to direct negotiations. Competition involves inviting multiple suppliers to bid for the contract, promoting transparency and ensuring value for money. Market Analysis: Understand the market dynamics, supplier landscape, and trends affecting your procurement needs.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

Arkestro

FEBRUARY 6, 2024

Increasing Competitive Bids On the ground in China, in a new warehouse bigger than three football fields, Arkestro is being applied by the organization to succeed in two key outcomes: controlling costs to save money and creating more competitive bids. The results were immediate.

Procurement 52

Procurement Competitive bidding Real-time Visibility Supply Chain Efficiency 52

The Good Spending

JUNE 22, 2022

Earlier, we provided some bad procurement examples by researching t he RFP procurement process's cost , which can outweigh the benefits of competition. We will study the economic effect of late product introduction, which can sometimes happen due to endless bidding and negotiations.

Procurement 52

Procurement Competitive bidding Bidding Negotiation 52

Jaggaer

OCTOBER 6, 2020

And not least, double-digit cost savings on our electronic sourcing bid events.”. We were challenged by suppliers on just a couple of occasions, but our buyers were very quickly able to drill into the history of the bid event and definitively establish there were no issues,” said Schlotthauer. Paperless at the O.K.

Sourcing 52

Sourcing Bidding Chief Procurement Officer Competitive bidding 52

Supply Chain Game Changer

FEBRUARY 23, 2022

You achieve the process via tendering and competitive bidding. Featuring Our 12 Best Procurement Articles! Procurement is a process that involves obtaining and accepting terms and getting goods or services from an outside source. In other words, procurement is deciding to buy under conditions of less availability.

Procurement 90

Procurement Purchasing Competitive bidding Procurement team 90

Planergy

FEBRUARY 24, 2025

This often involves sending a request for proposal (RFP), competitive bidding, detailed evaluations, and comprehensive vendor performance assessments. Vendor Selection Rigorous vendor selection processes ensure institutions partner with suppliers who can consistently meet quality, cost, and delivery expectations.

Procurement 52

Procurement Supply Chain Efficiency supply chain budgeting Budget 52

Procurement Software

SEPTEMBER 26, 2023

Source-to-Pay on the other hand focuses on the more tactical sourcing performed as part of a competitive bidding process. Source-to-Pay is usually tactical S2P is the typical “three bids and a buy” type of sourcing activity for non-strategic spend. What is Source-to-Pay? Maybe a simple auction could be performed too.

Sourcing 59

Sourcing Contract Competitive bidding Bidding 59

Procurement Software

APRIL 18, 2023

This involves suppliers competing in sequential bidding. Buyers will have already vetted the suppliers they want to invite to the eAuction and suppliers will start out with their initial bid at the beginning of the auction process. This encourages competitive bidding.

Bidding 52

Bidding Supply Chain Efficiency Real-time Visibility Negotiation 52

Una

SEPTEMBER 21, 2023

Competitive bidding Encouraging suppliers to compete for your business through competitive bidding processes can result in more competitive pricing and better terms. Buying in bulk or consolidating purchases across departments can often lead to volume discounts, reducing the cost per unit.

Competitive bidding 52

Competitive bidding Ethics Supply Chain Optimization Strategy 52

Una

NOVEMBER 14, 2022

Then, in the 1960s, the practice of competitive bidding became commonplace giving rise to trained procurement professionals. By the 1980s, supplier competition allowed procurement organizations to focus on supplier quality and dependability.

Procurement 98

Procurement Agile and Lean Supply Chain Supply Chain Efficiency Procurement team 98

Planergy

AUGUST 8, 2023

Open Tendering Open tendering is a procurement method that allows companies to bid on goods in an open competition or solicitation. It also requires objective evaluation measures to ensure accurate bids. Open tendering encourages effective competition to obtain goods, emphasizing value for money.

Sourcing 52

Sourcing Suppliers Procurement Bidding 52

The Procuretech Podcast

MARCH 19, 2024

Rujul emphasises the importance of early engagement in procurement to streamline request management, competitive bidding, and spending control. The platform is designed to be the first point of contact in procurement, requiring minimal training due to its simplicity and user-centric design.

Procurement 40

Procurement Competitive bidding Bidding Budget 40

Arkestro

SEPTEMBER 29, 2023

Likewise, automotive company Holman Enterprises saw 7% savings in just one day of using predictive procurement software, and Bel Brands used strategic sourcing software to achieve a 10% cost savings on its final bid. Data-Driven Insights Advanced procurement software generates actionable insights from data analytics.

Supply Chain Efficiency 52

Supply Chain Efficiency Innovation Procurement supply chain software solutions 52

Claritum

OCTOBER 30, 2017

Sure, the business may run ERP, and have the procure-to-pay cycle nicely automated, but few have nailed the processes involved in specifying, inviting suppliers to bid, evaluating and approving bids and getting approvals from customers. The benefits of measureable efficiencies can be huge.

Buying process 32

Buying process Bidding Buyers Competitive bidding 32