Procurement Tactics

MARCH 23, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Source-to-Contract — The Ultimate Guide Source-to-contract is an important process in procurement. If you want to know about source-to-contract, then this is for you!

Contract 156

Contract Sourcing Purchase orders Bidding 156

Procurement Templates

NOVEMBER 21, 2024

Legal and Compliance Knowledge Actionable Steps: Learn Contract Law Basics: Understand key contract clauses like force majeure, indemnity, and termination rights. Stay Updated on Regulations: Regularly review trade agreements, import/export rules, and labor laws. SAP, Oracle) Procurement software (e.g., Coursera, Udemy).

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain supply chain budgeting Supply Chain Optimization supply chain software solutions 130

ProcurePort

NOVEMBER 20, 2023

Online Contract Management Safety Overview: Strong security measures, like encryption and access controls, are important for keeping online contract management systems safe. Strategic Considerations for Enhanced Safety: Collaboration and integration […] The post Is it Safe to use an Online Contract Management System?

Contract management 130

Contract management Contract Management Collaboration 130

Spend Matters

SEPTEMBER 5, 2024

In today’s fast-paced business environment, the need for agility and accuracy in contract management is more critical than ever. Contracts serve as the foundation for business relationships, outlining the terms, conditions and expectations between parties. This content does not express the views or opinions of Spend Matters.

Contract management 122

Contract management Contract Management Collaboration 122

Procurement Insights

FEBRUARY 14, 2025

Procurement workflows are automated using AI & smart contracts. Given that off-contract procurement was at epidemic levels (which negatively impacted the buying organization and an increasingly skeptical supply base), it was essential to lessen rather than increase the purchasing cycle time.

Networking 59

Networking Import Procurement Buyers 59

Procurement Freelancers

DECEMBER 26, 2024

Effectively managing contracts for procurement processes has become an important task for companies that want… The post 10 Best Practices for Streamlining Procurement Contract Management first appeared on Procurement Blog | Procurement & Supply Chain News.

Contract management 98

Contract management Procurement contracts Contract Management 98

Procurement Templates

DECEMBER 11, 2024

Consider which projects or contracts require a plan B. In first instance you need to get your procurement house in order to deliver projects on time but once a contract is awarded you can work with stakeholders to track project delivery, whether if these are delivered to the agreed timescales. Contribute ideas and learn from others.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Cost of ownership 130

Spend Matters

MARCH 25, 2024

We were interested in his view on GenAI use cases, particularly in the contracting world where we see a lot of uptake by tech vendors. GenAI use cases in contracts and negotiations One use case of AI in procurement is abundantly evident in contracting and legal.

Procurement contracts 124

Procurement contracts Contract Procurement Negotiation 124

Procurement Tactics

MARCH 16, 2023

Additionally, we will talk about the importance and how you can implement strategic procurement. Additionally, it involves a careful analysis of supplier selection, payment terms, contract negotiation, and acquisition of goods. It can also help you with contract management and compliance processes. Why is it important?

Procurement 238

Procurement Procurement strategies supply chain budgeting Contract management 238

Procurement Tactics

DECEMBER 26, 2022

It is important to note that “seasonality” is not meant to be the seasons in Denmark. Final Deal: The first contract was issued in January 2014. The contract was reissued in April 2014. After that, the contract was awarded in July 2014. . However, the tender was abandoned due to multiple errors seen in the bids.

Procurement strategies 267

Procurement strategies Strategy Procurement Bidding 267

Spend Matters

OCTOBER 28, 2024

S2P suites typically cover sourcing, supplier management, contract management, spend analytics, AP automation and e-procurement. Onventis provides the above but it’s also important to note two other things about Onventis. First, it is one of the few providers in the space that is fully focused on the mid-market.

Market analysis 107

Market analysis Contract management Sourcing Buyers 107

Procurement Tactics

OCTOBER 18, 2022

Supplier relationship management software is a very important factor for procurement managers to strengthen their relationship with their suppliers. We will also tell you the reason why it is important to manage supplier relations in your business. . Supplier relationships are very important to every organization.

Supplier relationship management 181

Supplier relationship management supply chain software solutions Suppliers Management 181

SCMDOJO

DECEMBER 29, 2024

Key takeaways Importance of Procurement Procurement vs. Purchasing Key Functions Departmental Structure Role Descriptions The blog emphasizes the significance of a well-structured procurement department with qualified personnel to achieve organizational objectives. Read In Detail About Procurement Department Here 2. and sustainability.

Supply Chain Efficiency 95

Supply Chain Efficiency supply chain budgeting Supply Chain Optimization Supply chain 95

Procurement Tactics

JANUARY 4, 2023

Starting work with a new vendor or renewing a contract with an existing one requires a lot of work for your firm’s legal department. You need to draft the contract, negotiate the terms and conditions, ensure you and the vendor have done your due diligence, and much more. . Proper Signing of the Contracts with Vendors.

Procurement 195

Procurement Contract Negotiation Quality 195

Procurement Tactics

SEPTEMBER 8, 2022

Usually, operation purchasing managers work to enhance contract management, delivery management, and managing any feedback. Its most important role in the business is to coordinate with other processes and cut costs. What is its most important role in every business? Selecting a supplier that best suits you.

Procurement 226

Procurement Purchase orders Purchasing Strategic sourcing 226

Spend Matters

MARCH 27, 2025

Too often, she told us, while these transformations are led by technically proficient teams, they underestimate the importance of properly defining the project from a business perspective from the outset. So before drafting your specifications, its important to ask yourself: will this IT system truly improve and simplify users daily work?

Change management 117

Change management Data Import Project management 117

Procurement Tactics

JUNE 22, 2023

When making a PO, it is vital to create it carefully, as it becomes a legal contract between the buyer and the seller once the latter accepts it. ChatGPT & AI in Procurement Course Unleash the power of ChatGPT & AI within procurement Why is it important to Understand the Differences between SO and PO?

Purchase orders 200

Purchase orders Purchasing supply chain software solutions Buyers 200

Spend Matters

DECEMBER 11, 2024

Tariff management is a strategic subset of direct materials management and sourcing that involves navigating and optimizing the complex costs and regulatory implications of importing materials and goods across borders. Tariffs essentially taxes imposed on imports and exports directly impact product cost structures.

Supply Chain Optimization 110

Supply Chain Optimization Management Supply chain resilience Supply Chain Efficiency 110

Procurement Tactics

JUNE 28, 2023

In this article, we are going to explore what procurement tracking is, its importance in business and the tools to be used when conducting it for its efficient execution. Procurement Tracking: Why is it Important? Documents concerning the contracts shall also be undertaken.

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

Spend Matters

FEBRUARY 26, 2025

During one breakout session, Gideon Davis (Administrator, Nevada State Purchasing Division of the Department of Administration), Anna Shpigel (Deputy Assistant Secretary, Massachusetts), and Rose Svitak (Manager, MMCAPs Knowledge and Financial Management Team) talked about the importance of aligning procurement and finance.

Procurement 116

Procurement Bidding Contract management Data 116

Spend Matters

NOVEMBER 19, 2024

For instance, addressing regulatory change will a need long-term plan to change formulations in the case of the import tax expected in China, accelerating China+1 or China+2 sourcing. Risk impact assessment on turnover done by a combination of internal functions. Risk planning and mitigation by in-depth project planning.

Risk 111

Risk Strategy Agile and Lean Supply Chain Supply Chain Optimization 111

ivalua

FEBRUARY 8, 2023

Why is visibility so important? Supply chain disruptions are becoming more and more common, so it’s important for businesses to be proactive in mitigating risk. Flexibility: Another way to reduce risk is to build flexibility into your supply contracts. Work to achieve 100% supply chain visibility.

Supply chain resilience 242

Supply chain resilience Supply Chain Efficiency supply chain budgeting Agile and Lean Supply Chain 242

ivalua

MARCH 16, 2020

Over thirty locations worldwide will benefit from the implementation of the software for strategic and operational purposes, including Supplier Lifecycle Management, Source to Contract (S2C), Contract Management and Requisition to Pay (R2P).

Agile and Lean Supply Chain 49

Agile and Lean Supply Chain Procurement Supply Chain Efficiency Chief Procurement Officer 49

Spend Matters

JULY 8, 2024

This Spend Matters Vendor Analysis provides an overview of Luminance and its solution for contract lifecycle management (CLM). The Luminance AI enhances and expedites the entire contract lifecycle process, including drafting, negotiating and understanding key features of executed contracts, all while maintaining compliance.

Contract 117

Contract Market analysis Negotiation Buyers 117

Procurement Heads

FEBRUARY 15, 2023

An agency can handle all aspects of the recruitment process, from sourcing and screening candidates to negotiating salaries and contracts, freeing up your time and resources to focus on other important tasks.

Procurement 246

Procurement Networking Risk Negotiation 246

Skill Dynamics

JANUARY 14, 2025

Considering its importance, it makes sense that modern procurement teams have a structured approach to developing essential skills and capabilities. A typical procurement competency framework covers several key areas, including but not limited to strategic sourcing, supplier management, risk management, and contract negotiation.

Procurement 59

Procurement supply chain budgeting Procurement team Supply Chain Efficiency 59

ivalua

APRIL 23, 2020

The session will present a great example of the importance of ensuring digitization addresses not just low hanging fruit, but also strategically important categories that are harder to manage. Another customer session will come from US health not-for-profit, Baylor Scott & White.

supply chain software solutions 46

supply chain software solutions Supply chain Procurement Supply 46

SCMDOJO

MARCH 24, 2025

Why is Purchase Price Variance (PPV) Important? Suppliers whose prices fluctuate significantly over time may not be suitable for long-term partnerships, whereas those who consistently provide products at estimated costs can be considered for future contracts. However, its impact is typically greater on the buyer than on the supplier.

Price 69

Price Purchasing supply chain budgeting Raw materials 69

Procurement Insights

MARCH 19, 2025

They highlighted benefits such as a consolidated procurement and contract pipeline, tailored workflows, and enhanced collaboration. CPOstrategy 4. Bayer During the same event, Bayer representatives shared how ORO’s platform made procurement more user-friendly for business users, suppliers, and procurement teams.

Procurement 52

Procurement Import Suppliers Sourcing 52

Procurement Tactics

MAY 24, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Vendor Scorecards — Everything You Should Know Vendor scorecards simplify vendor management and are an important factor in monitoring supplier performance. However, what is it? What Are Vendor Scorecards?

Supply Chain Efficiency 186

Supply Chain Efficiency Vendor management Negotiation Quality 186

Procurement Tactics

NOVEMBER 23, 2022

We will tell you the importance of corporate social responsibility within sustainable procurement. The widespread neglect is linked to the practical challenges of purchasing goods and contracting services that align with CSR goals. . Why is CSR important? Corporate social responsibility (CSR) is adopted by many businesses.

Procurement 206

Procurement Ethics Sustainability Supply Chain Efficiency 206

Procurement Templates

NOVEMBER 13, 2022

These are the 7 important steps in the procurement process: Step 0: Defining the need Step 1: Request to purchase Step 2: Pre- sourcing Step 3: Procurement process. Step 4: Evaluation and contract. Step 5: Contract management. What are the 7 stages of procurement? Step 6: Invoice approvals and disputes.

Procurement 130

Procurement Contract management Contract Purchasing 130

Procurement Templates

DECEMBER 8, 2023

MAT – authorities are to award a contract to the “most advantageous tender” (a move away from the the old most economically advantageous tender”/MEAT). Terminology – UK specific non EU Whole-lifecycle – more importance placed on the contract lifecycle as a whole. How is this different?

Procurement 130

Procurement Contract Suppliers Import 130

Procurement Tactics

OCTOBER 13, 2022

Once you are done reading this article, you will know the importance of having a strategic sourcing manager in a company. Collaborate and cooperate with stakeholders to ensure agreement on contract terms. For example, when a supplier pulls out or has breached the contract, the manager should be able to respond quickly.

Strategic sourcing 200

Strategic sourcing Strategic sourcing Sourcing Management 200

Procurement Heads

OCTOBER 17, 2022

Responsible procurement and supply chain management are important modules in our MSc programmes. How important do you think soft skills are in procurement? Increasingly important, although I do have a problem with calling them ‘soft skills’ as it implies they are easier, they are actually the hardest! What is your mission?

Supply Chain Efficiency 278

Supply Chain Efficiency Supply chain Sustainability Procurement 278

Spend Matters

APRIL 10, 2025

The new tariff structure introduces sweeping changes to how imports are treated, starting with the US shifting away from Most-Favored Nation (MFN) tariff norms in several instances. This means that proving the origin of goods is now more important than ever.

Procurement 94

Procurement Raw materials Risk Supply chain 94

Procurement Tactics

MAY 22, 2023

Once you are done reading this article, you will have a deeper understanding of what is RFP evaluation criteria and why it is important. This document defines the project, goals, and the organization that sponsors it and outlines the bidding process and contract terms. What is RFP?

Bidding 212

Bidding Budget Negotiation Quality 212