Procurement Tactics

AUGUST 29, 2022

E-tendering is used by many companies as it helps them to find the best suppliers for upcoming purchases at the right price. It is important because organizations can choose qualified vendors and competitive bids on their advantages. Or receive our famous weekly newsletter. E-Tendering — Everything You Should Know.

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Competitive bidding Bidding Contract Suppliers 130

Supply Chain Collaborator

SEPTEMBER 14, 2018

TMS Solution: Competitive Bidding Environment for Spot Market Quoting in TMS. There will be no avoiding the premium pricing of the spot market as delivery of this freight is crucial to saving lives. Yet, that doesn’t mean shippers must pay more than they absolutely have to.

Logistics 79

Logistics Competitive bidding Bidding Risk management 79

Procurement Tactics

JULY 21, 2022

Leverages competitive bidding. A procurement portal offers a variety of ways for stress-free bidding management. Also, the healthy competition on the procurement portal constantly makes the suppliers on high alert. Get better prices. You can also modify the coverage of their profile such as: Production Technology.

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Procurement Procurement solutions Bidding Competitive bidding 147

Planergy

FEBRUARY 24, 2025

Market Research Comprehensive market research helps institutions identify potential suppliers, compare pricing, evaluate product quality, and understand emerging technologies and solutions relevant to educational contexts. Think about how major retail giants can afford to keep their pricing low – bulk buying power.

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Procurement Supply Chain Efficiency supply chain budgeting Budget 52

Arkestro

MAY 28, 2024

Key elements found in an RFI may include the company background, proposed solution, pricing information, references, and any specific requirements from the buyer. RFQs are typically more detailed than RFIs and focus on obtaining competitive pricing bids from suppliers.

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Competitive bidding Procurement Strategic sourcing Strategic sourcing 52

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

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. Sourcing decision criteria will most likely consider unit pricing, operating terms and conditions, and perhaps items such as quality or delivery capabilities.

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Sourcing Bidding Supply chain Suppliers 82

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.

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Competitive bidding Bidding Procurement Quantity 40

Supply Chain Game Changer

FEBRUARY 23, 2022

You achieve the process via tendering and competitive bidding. IT is a set of products, consulting, and support services, so it can’t fit in generally obtaining the best prices and terms. Featuring Our 12 Best Procurement Articles! In other words, procurement is deciding to buy under conditions of less availability.

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Procurement Purchasing Competitive bidding Procurement team 90

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. While getting good pricing to prevent overspending is important, its also about the value. You may initially spend more for longer-term savings.

Strategy 52

Strategy Management Budget Spend management 52

Una

SEPTEMBER 21, 2023

Procurement professionals work closely with suppliers to secure better pricing terms, discounts, and favorable contract terms. Competitive bidding Encouraging suppliers to compete for your business through competitive bidding processes can result in more competitive pricing and better terms.

Competitive bidding 52

Competitive bidding Ethics Supply Chain Optimization Strategy 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. Our suggested pricing capabilities. The results were immediate.

Procurement 52

Procurement Competitive bidding Real-time Visibility Supply Chain Efficiency 52

The Good Spending

JUNE 22, 2022

Once again, this post isn't made to disapprove the competitive bidding and BAFO rounds. Please refer to the original research, "The Analysis of Pricing Strategies for New Product Introduction," for more detail and other exciting conclusions.

Procurement 52

Procurement Competitive bidding Bidding Negotiation 52

Supply Chain Game Changer

NOVEMBER 24, 2018

We hope for good prices, but we usually just accept what suppliers offer. You are already getting the best prices, right? Would you like to have a Procurement professional assess and benchmark your expenses and confirm you are getting the best prices, or identify potential savings, ALL for FREE? So why should you care?

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Procurement supply chain budgeting Contract Competitive bidding 51

World of Procurement blog

MAY 8, 2024

Sourcing : Procurement uses competitive bidding, e-sourcing, and supplier development. The goal is to find suppliers capable of delivering based on specifications, pricing, quality, capacity, and other factors. Seek multi-year contracts to lock in lower prices. Purchasing's value-add is more limited.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Barkers Procurement

JANUARY 23, 2024

Following selection of the vendor, Barkers created the first draft contract and ran the negotiation process to agree all commercial terms and technical deliverables with the vendor.

Bidding 52

Bidding Procurement Competitive bidding Negotiation 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. A consumer-centric procurement process.

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

Procurement Software

MARCH 11, 2022

Old school, pure-play price negotiations don’t work, especially in an inflationary market. Savings on indirect spend categories can’t usually be measured as Purchase Price Variance (PPV) against a standard or average price which can directly impact the bottom line. Implement a competitive bidding policy.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Procurement Software

MARCH 11, 2022

Old school, pure-play price negotiations don’t work, especially in an inflationary market. Savings on indirect spend categories can’t usually be measured as Purchase Price Variance (PPV) against a standard or average price which can directly impact the bottom line. Implement a competitive bidding policy.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 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.

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Sourcing Contract Competitive bidding Bidding 59

Market Dojo

DECEMBER 13, 2017

“Procurement is the process of finding, agreeing terms and acquiring goods, services or works from an external source, often via a tendering or competitive bidding process. ” – Wikipedia. This definition is clear but it is not enough for me and probably neither for you?

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Procurement Buyers Competitive bidding Bidding 40

Procurement Software

APRIL 18, 2023

eAuctions are a negotiation method that allow buyers to leverage market-driven pricing opportunities. This involves suppliers competing in sequential bidding. Live, and within an allotted time period, suppliers lower their prices against the nearest competitor in order to win your business. What is an eAuction?

Bidding 52

Bidding Supply Chain Efficiency Real-time Visibility Negotiation 52

Arkestro

SEPTEMBER 29, 2023

Systems use this data to automate routine procurement tasks and make informed decisions about sourcing, pricing, and supplier relationships. This leads to better pricing and terms, reduced errors, improved accuracy, and reduced administrative costs. Why is autonomous procurement important?

Supply Chain Efficiency 52

Supply Chain Efficiency Innovation Procurement supply chain software solutions 52

Planergy

AUGUST 8, 2023

When signing on a new supply customer, you must consider more than just a good-sounding product and price. Open Tendering Open tendering is a procurement method that allows companies to bid on goods in an open competition or solicitation. A key difference is that the RFQ should include a pricing quotation.

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Sourcing Suppliers Procurement Bidding 52

Procurement Software

MARCH 11, 2022

Competitive bidding for €10k worth of one-time spend. But there are also hundreds of best-of-breed procuretech solutions with affordable pricing, specifically aimed towards smaller or mid-market businesses. for the same price as the salary of a Category Manager.

Supply Chain Efficiency 72

Supply Chain Efficiency supply chain software solutions Procurement Category management 72

Procurement Software

MARCH 7, 2023

It enables: Building stronger relationships with your key suppliers Competitive bidding, which optimises cost Evaluating non-price factors important to your organisational objectives e.g. quality, lead time, sustainability Performing the appropriate pre-qualification of suppliers. What steps are involved in Source-to-Pay?

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Sourcing supply chain software solutions Procurement Agile and Lean Supply Chain 64

Claritum

NOVEMBER 16, 2018

Ensuring that policies are adhered to and that there is appropriate supplier selection (strategic suppliers, approved suppliers and competitive bids for example.). It is also not sufficient to just to include contract terms or pricing schedules. The focus on P&L across the organization is key to any purchase.

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Procurement Procurement team Supply Chain Efficiency Purchasing 69

Jaggaer

OCTOBER 6, 2020

According to Wessel, that means more competition, which translates into lower prices, faster delivery, better quality and better service. JAGGAER Sourcing has also helped us to eliminate confusion, with bids being conducted for nine locations throughout our system, as to where bidders are to send their bid responses,” he said.

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Sourcing Bidding Chief Procurement Officer Competitive bidding 52

TYA Suite

NOVEMBER 25, 2024

It involves carefully selecting suppliers based on several factors like quality, price, reliability, and how well the supplier can meet the company's long-term needs. This step is about selecting suppliers who not only offer competitive pricing but also align with the company’s goals. moves into the negotiation phase.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 40

Procurement Software

DECEMBER 5, 2022

Competitive bidding, which optimises cost. Evaluating non-price factors important to your organisational objectives e.g. quality, lead time, sustainability. Integration with external, third party data for variables such as commodity pricing, ESG scores, credit checks, financial health and so on. Supplier due diligence.

Sourcing 52

Sourcing supply chain software solutions Procurement Agile and Lean Supply Chain 52

Claritum

OCTOBER 12, 2018

For example in the Retail Sector, The Category Manager is moving to be an “In-store expert” in the visual merchandising, pricing, management, and sales of a certain group or type of products and not just a buyer. sourcing at competitive prices all goods and services. Access to better prices, with favourable negotiated terms.

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Procurement Eprocurement Category management Purchasing 47

Pipefy

MARCH 6, 2023

Maintaining supplier relationships is an important part of the procurement cycle, as these relationships may impact future prices and quality of service. Phase 5 – Supplier management Finally, the procurement team will determine if they want to use the supplier again, or if they want to look for alternatives. Learn more about RFQ s.

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Procurement Procurement team Purchase orders Vendor relationships 59

Una

OCTOBER 9, 2023

Strategic sourcing takes into account a few key concepts: Total Cost of Ownership TCO shows how strategic sourcing looks beyond the initial purchase price. This is achieved by leveraging economies of scale, minimizing waste, and ensuring competitive pricing. Work to build mutually beneficial relationships with suppliers.

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Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Procurement Software

MARCH 11, 2022

Competitive bidding for €10k worth of one-time spend. But there are also hundreds of best-of-breed procuretech solutions with affordable pricing, specifically aimed towards smaller or mid-market businesses. for the same price as the salary of a Category Manager.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions Procurement Category management 52

TYA Suite

JULY 17, 2024

Relies on manual processes for sourcing, negotiation, and Focuses on cost reduction through competitive bidding and bulk purchasing. Conduct a comprehensive analysis of the market landscape to understand market trends, supplier capabilities, and pricing dynamics.

Procurement strategies 40

Procurement strategies Strategy Supply Chain Efficiency Procurement 40

Empowering CPO

MAY 4, 2023

Sourcing approach: Determine the most suitable sourcing strategy for each category, such as competitive bidding, strategic partnerships, or sole-source contracts. Sourcing approach: Determine the most suitable sourcing strategy for each category, such as competitive bidding, strategic partnerships, or sole-source contracts.

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Procurement Procurement strategies Cost of ownership Supply Chain Efficiency 52

Planergy

JULY 21, 2023

Goods have fixed prices, whereas services usually involve negotiation between buyers and sellers to reach a pricing agreement. Goods procurement involves the buying of tangible goods, while services are non-tangible services provided by vendors.

Management 52

Management Procurement supply chain budgeting Budget 52