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. E-tendering or electronic tendering is the process of using e-procurement platforms to automate solicitation bid tenders and assess suppliers. . Thus, leading to a short list of suppliers. .

Competitive bidding 130

Competitive bidding Bidding Contract Suppliers 130

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. It is a transparent procurement process that allows fair competition for competing contractors and suppliers.

Bidding 197

Bidding Suppliers Competitive bidding Price 197

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

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. There are numerous reasons why engaging with different suppliers is beneficial in procurement.

Competitive bidding 130

Competitive bidding Bidding Price Suppliers 130

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 ABOUT IVALUA .

Supply Chain Efficiency 130

Supply Chain Efficiency Supply Chain Optimization Supply chain Competitive bidding 130

SCMDOJO

MARCH 14, 2025

Introduction In the world of public procurement and competitive bidding, a structured tender evaluation process ensures that organizations select the most qualified vendors while maintaining transparency and efficiency. Key Stages of the Tender Evaluation Process 1.

Bidding 59

Bidding Contract Contract management Price 59

Procurement Tactics

JULY 21, 2022

A vendor portal is an e-procurement solution that allows the organization to arrange and connect to third party suppliers. It is also known in the industry as a supplier portal. . A vendor portal is a secure and safe management system that aids companies to connect with many suppliers to streamline their procurement process. .

Procurement 147

Procurement Procurement solutions Bidding Competitive bidding 147

Procurement Tactics

JANUARY 13, 2023

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

Procurement 171

Procurement Chief Procurement Officer Strategic sourcing Strategic sourcing 171

Planergy

MARCH 10, 2025

How AP can improve relationships with your key suppliers. Key Strategies for Expense Management in Education To help your institution achieve financial efficiency, here are some practical strategies: Renegotiate Supplier Contracts Schools and trusts rely heavily on suppliers for things like stationery, IT equipment, and food services.

Strategy 52

Strategy Management Budget Spend management 52

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. The conversation also delves into how adopting new technologies and methodologies in logistics can lead to substantial savings and improved supplier relationships.

Logistics 52

Logistics Competitive bidding Bidding Procurement strategies 52

Arkestro

JANUARY 9, 2024

Using a unique blend of behavioral science, game theory, data science, and automation, Arkestro redefines procurement management, tackling challenges such as time constraints, scale, and supplier negotiation. Please reach out to our team of experts below to learn more.

Competitive bidding 52

Competitive bidding Procurement Supplier negotiation Bidding 52

Arkestro

MAY 28, 2024

Request for Information (RFI) Request for Information (RFI) is a formal document used by organizations to gather information and details from potential suppliers or vendors about their products, services, and capabilities. For suppliers, getting an RFI is an important first step in landing new customers.

Competitive bidding 52

Competitive bidding Procurement Strategic sourcing Strategic sourcing 52

Supply Chain Game Changer

FEBRUARY 23, 2022

You achieve the process via tendering and competitive bidding. Owing to the fact that technology is growing every day, specialists in procurement have a hard time choosing what will be a sustainable standard for technology that will both have a positive effect on IT procurement and also, be of advantage to the supplier.

Procurement 90

Procurement Purchasing Competitive bidding Procurement team 90

Supply Chain Game Changer

APRIL 28, 2020

Only one supplier is awarded business for a particular component, part or material even though there are other suppliers that can provide that same supply. Single source decisions are usually the result of a quotation or bidding process after which all candidate suppliers are narrowed down to one.

Sourcing 82

Sourcing Bidding Supply chain Suppliers 82

Planergy

FEBRUARY 24, 2025

How AP can improve relationships with your key suppliers. 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.

Procurement 52

Procurement Supply Chain Efficiency supply chain budgeting Budget 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. Yet, many still hesitate to make the evolutionary jump.

Procurement 98

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

Planergy

AUGUST 8, 2023

It’s often tedious for many companies, as procurement involves identifying the right supplier and ensuring that goods and services meet organizational needs. Organizations are constantly exploring new procurement methods to create a more strategic procurement strategy and ensure competitive procurement.

Sourcing 52

Sourcing Suppliers Procurement Bidding 52

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. The bidding cost could be as high as 1.2%

Competitive bidding 40

Competitive bidding Bidding Procurement Quantity 40

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

World of Procurement blog

APRIL 23, 2024

It helps in achieving better cost management and savings, improving supplier relationships, ensuring the quality of goods and services, and mitigating risks associated with supply chain disruptions. 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

It helps in achieving better cost management and savings, improving supplier relationships, ensuring the quality of goods and services, and mitigating risks associated with supply chain disruptions. 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

Una

SEPTEMBER 21, 2023

These actions typically involve negotiating better deals with suppliers , optimizing procurement processes, and finding cost-efficient alternatives for goods and services. Here are some cost-saving levers you can pull: Negotiation and supplier management Negotiation skills are at the heart of cost savings. What about the P&L?

Competitive bidding 52

Competitive bidding Ethics Supply Chain Optimization Strategy 52

Procurement Software

SEPTEMBER 26, 2023

Source-to-Contract is the end-to-end process which starts with performing due diligence on a supplier, and culminates in a contract being approved, signed and implemented. It is predominantly used for the strategic sourcing of critical goods and services from strategic suppliers. What is Source-to-Pay?

Sourcing 59

Sourcing Contract Competitive bidding Bidding 59

World of Procurement blog

MAY 8, 2024

Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

The Good Spending

JUNE 22, 2022

The actual cost of the bad procurement process Bad procurement concerns poor planning, untimely delivery, inflated product cost, failed supplier relationships, and many more. Earlier, we provided some bad procurement examples by researching t he RFP procurement process's cost , which can outweigh the benefits of competition.

Procurement 52

Procurement Competitive bidding Bidding Negotiation 52

Arkestro

SEPTEMBER 29, 2023

The software works with real-time and historical data, including user preferences, past buys, supplier performance, and market trends. Systems use this data to automate routine procurement tasks and make informed decisions about sourcing, pricing, and supplier relationships. Why is autonomous procurement important?

Supply Chain Efficiency 52

Supply Chain Efficiency Innovation Procurement supply chain software solutions 52

Pipefy

MARCH 6, 2023

Phase 1 – Defining needs Phase 2 – Supplier selection Phase 3 – Order management Phase 4 – Purchase evaluation Phase 5 – Supplier management Phase 1 – Defining needs During this initial phase of the procurement cycle, the focus will be on determining what is needed — and when.

Procurement 59

Procurement Procurement team Purchase orders Vendor relationships 59

Claritum

NOVEMBER 16, 2018

Focus Procurement on supplier optimisation. Ensuring that policies are adhered to and that there is appropriate supplier selection (strategic suppliers, approved suppliers and competitive bids for example.). Securing competitive suppliers for Indirect Spend categories. Introduction.

Procurement 69

Procurement Procurement team Supply Chain Efficiency Purchasing 69

Una

NOVEMBER 29, 2023

Supplier relationship management Dedicate time to nurturing and strengthening relationships with your key suppliers. This may involve seeking out new suppliers, optimizing supplier portfolios, and conducting competitive bids.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply Chain Optimization Supplier relationship management Strategic sourcing 52

Procurement Software

MARCH 11, 2022

Yes, Supplier Relationship Management (SRM) , supplier partnerships, and deeper collaboration with core vendors will deliver ongoing value over the long term and are an absolutely essential piece of ammo in every large organisation’s arsenal. This can usually range from suppliers with an annual spend below $100k to $1 million.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Procurement Software

MARCH 11, 2022

Yes, Supplier Relationship Management (SRM) , supplier partnerships, and deeper collaboration with core vendors will deliver ongoing value over the long term and are an absolutely essential piece of ammo in every large organisation’s arsenal. This can usually range from suppliers with an annual spend below $100k to $1 million.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Zycus Cognitive Procurement

JULY 6, 2022

However, a robust indirect procurement team can help the company avoid pitfalls such as supplier disruptions or costly contract breaches. Stakeholders may fear that procurement could impact personal relationships developed with suppliers. They don’t want to use well-defined competitive bidding or auction processes.

Category management 52

Category management Competitive bidding Raw materials Eprocurement 52

Procurement Software

MARCH 7, 2023

The digital P2P process provides intelligent transaction automation between your company, suppliers and their receipt of payments. One of the first things to be digitised was the transfer of money from customer to supplier, via bank transfer. This is due to spend and supplier data being consolidated in one single system.

Sourcing 64

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

Supply Chain Game Changer

NOVEMBER 24, 2018

We hope for good prices, but we usually just accept what suppliers offer. Supplier relationships are too close. You have all the time in the world to negotiate with suppliers. We are busy and just don’t have the time to focus on procurement.”. “We We are leaving hard earned money on the table.”. So why should you care?

Procurement 51

Procurement supply chain budgeting Contract Competitive bidding 51

Jaggaer

OCTOBER 6, 2020

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. This would have been very difficult with a paper-based bid,” Schlotthauer said. More competitive bidding.

Sourcing 52

Sourcing Bidding Chief Procurement Officer Competitive bidding 52

TYA Suite

JULY 17, 2024

This strategy outlines the methods and processes for selecting suppliers, negotiating contracts, , and ensuring that procurement activities align with the organization’s overall goals and objectives. Relies on manual processes for sourcing, negotiation, and Focuses on cost reduction through competitive bidding and bulk purchasing.

Procurement strategies 40

Procurement strategies Strategy Supply Chain Efficiency Procurement 40