SCMDOJO

MARCH 14, 2025

Financial Evaluation For the bids that qualified the technical evaluation, proceed with the financial evaluation and process the submissions as per the evaluation criteria Key Activities: Price Analysis Compare total costs, unit rates, taxes, warranties, and payment terms. lowest price = highest score) to rank commercial offers.

Bidding 59

Bidding Contract Contract management Price 59

Procurement Tactics

SEPTEMBER 7, 2022

Sustainable procurement refers to the adoption of environmental, social, and governmental (ESG) factors together with the usual price and quality considerations by the organization. . The total cost of ownership. Life cycle costing. Now that we already had a recap, Let us now go to sustainable procurement. Revenue growth.

Sustainability 163

Sustainability Procurement Cost of ownership Supply Chain Efficiency 163

Procurement Tactics

SEPTEMBER 21, 2022

Businesses of all sizes need to save money and reduce costs as much as possible. Sustainability in procurement helps reduce the total cost of ownership through the reduction of energy costs, minimized consumption, over-specification, and environmental and social compliance cost. Risk reduction.

Sustainability 188

Sustainability Procurement Cost of ownership Suppliers 188

Empowering CPO

FEBRUARY 20, 2023

As is true the objective of every strategic sourcing project is to reduce the total cost of ownership. In keeping the above points in perspective it is very essential that the vendor pricing evaluation methodology should be very robust. Components should be normalized so as to have meaningful comparisons.

Price 52

Price Cost of ownership Strategic sourcing Strategic sourcing 52

Arkestro

NOVEMBER 12, 2024

Today’s procurement challenges go far beyond cost negotiations and sourcing. Businesses must now navigate sustainability, risk management, and total cost of ownership (TCO)—which now are shifting more spend into the “defer” or “ignore” buckets. However, this convenience comes with a downside.

Procurement 52

Procurement Bidding Procurement team Supply Chain Efficiency 52

Jaggaer

FEBRUARY 5, 2025

When assessing bids following an eAuction, the process typically involves a combination of automated tools and human decision-making, especially when evaluating factors beyond just price. Since reverse auctions focus heavily on price competitiveness, this can be easily done with sourcing software tools.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Strategy 52

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.

Procurement 52

Procurement Supply Chain Efficiency supply chain budgeting Budget 52

Procurement Insights

JANUARY 3, 2025

Emphasis shifted from pure cost savings to total cost of ownership (TCO) and value creation. Shift to Total Cost of Ownership (TCO) : Procurement began focusing on TCO and value realization , aligning more closely with CIOs priorities of delivering long-term value from IT investments.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Efficiency Procurement 52

Jaggaer

FEBRUARY 5, 2025

It is a process that creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. Nishiguchi set out eight steps in strategic sourcing: Assessment of a companys current spending (what is bought, where, at what prices?)

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 52

Jaggaer

FEBRUARY 5, 2025

The process creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. Your focus here is to get security of service at a good price. Traditional sourcing focuses on high volumes and bulk buying to secure discounts.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Efficiency Sourcing 52

ivalua

MARCH 18, 2021

Ultimately, the buyer can efficiently compare offers and select the optimal supplier(s) according to a best value/best price logic or lower total cost of ownership. This greatly increases the company’s agility, allowing highly efficient purchasing operations.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Buyers 130

Una

NOVEMBER 1, 2022

Investing in procurement technology , team training, and supplier relationship management will have greater rewards than short-term selections based on the lowest price or aggressive supplier negotiations. TCO takes into account the long-term costs and expenses incurred during a product’s useful life and eventual disposal.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

Procurement Templates

JUNE 18, 2023

ChatGPT Inflation refers to the general increase in prices of goods and services in an economy over time, resulting in a decrease in the purchasing power of money. When consumers have more money to spend, they compete for limited goods, driving prices up. What is inflation?

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

Spend Matters

JANUARY 8, 2024

Rapid value delivery As inflation begins to cool, the challenge for businesses in 2024 and beyond will be to systematically capture this release of prices in most areas. As businesses seek greater control over risk, sustainability, availability and costs, some businesses are contemplating full backward integration in the value chain.

Procurement solutions 101

Procurement solutions Supply Chain Optimization Procurement Supply Chain Efficiency 101

ivalua

OCTOBER 28, 2015

Driven by a desire by manufacturers to insulate themselves from spiraling labor costs, manufacturers shifted production of parts and components into the supply chain. It shouldn’t be about beating up a supplier on price or strong arming suppliers. Your suppliers can be a competitive advantage or a burden that keeps you from growing.

Suppliers 100

Suppliers Cost of ownership Collaboration Price 100

SCMDOJO

APRIL 3, 2022

They are far more convenient than conventional discussions and negotiations, providing procedural integrity and transparency while also lowering final prices owing to enhanced supplier competitiveness. General Cost Reductions: Maybe it is just one of the advantages of eAuctions, but it is still significant!

Supply Chain Efficiency 141

Supply Chain Efficiency Bidding Procurement team supply chain software solutions 141

Procurement Templates

SEPTEMBER 14, 2023

Procurement, traditionally seen as a function focused on sourcing goods and services at the best possible prices, has now evolved into a strategic driver for sustainability. LCAs can also reveal hidden costs associated with unsustainable practices.

Sustainability 130

Sustainability Supply Chain Efficiency Procurement Ethics 130

Procurement Tactics

APRIL 5, 2023

Risk management Refusing to adopt sustainability has its own consequences and can severely affect the brand value, reputation, market capitalization, market share, legal exposures, price fluctuations, access to supply, ethical exposures, financial liabilities, and the risks associated with operating licenses.

Sustainability 187

Sustainability Procurement Supply Chain Efficiency Procurement strategies 187

Procurement Insights

MARCH 17, 2025

Core Offering : Tracks commodity prices, production costs, and market trends to arm procurement teams with data for better supplier negotiations. Ideal for complex, high-stakes negotiations where game theory can model supplier behavior and optimize total cost of ownership. large enterprises, strategic sourcing).

Negotiation 52

Negotiation Procurement team Real-time Visibility Cost of ownership 52

SCMDOJO

JULY 29, 2022

While Total Landing Cost (TLC) includes other types of costs like; transporting, storage, risk, delivery, and quality, and the more complicated analysis, the Total cost of ownership (TCO) , includes the TLC, in addition to the ongoing lifetime, operating, durability, end-life disposal cost, …etc.

Quantity 131

Quantity Supply chain management Supply chain management Supply Chain Efficiency 131

World of Procurement blog

APRIL 23, 2024

Adopt a Total Cost of Ownership (TCO) Approach Evaluating purchases based on the total cost of ownership rather than just the initial price can lead to significant savings. This includes fair treatment of suppliers, transparent bid processes, and adherence to anti-corruption policies.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement supply chain budgeting 52

World of Procurement blog

APRIL 23, 2024

Adopt a Total Cost of Ownership (TCO) Approach Evaluating purchases based on the total cost of ownership rather than just the initial price can lead to significant savings. This includes fair treatment of suppliers, transparent bid processes, and adherence to anti-corruption policies.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement supply chain budgeting 52

Empowering CPO

DECEMBER 9, 2020

Baseline can be defined as the total cost of ownership for the set of goods or services as defined in the RFP scope. The underlying hypothetical condition is that the RFP is not conducted or negotiation are not conducted and the contract is extended with the incumbent at the same pricing rate as currently applicable.

Data 52

Data Cost of ownership Strategic sourcing Strategic sourcing 52

SCMDOJO

JULY 18, 2024

While biofuels might have slightly higher initial costs, government incentives can help offset the difference. Evaluating the total cost of ownership, including fuel prices, maintenance requirements, and government incentives, is crucial when considering alternative fuels (Department for Transport, 2005c).

Supply Chain Efficiency 105

Supply Chain Efficiency Cost of ownership Supply Chain Optimization Sustainable transportation 105

SCMDOJO

JUNE 6, 2024

Affordable Pricing: The program offers competitive pricing and value compared to traditional university programs or in-person training. Globally Accessible: Available online, professionals from anywhere in the world can access the high-quality content and benefit from SCMDOJO’s expertise.

Procurement 105

Procurement Supply Chain Optimization Supply Chain Efficiency Ethics 105

Empowering CPO

DECEMBER 14, 2020

Else it is also possible to link prices to currency index to safeguard both the parties. Though the probability of vendors quoting right price is low, the entire exercise is very insightful and helps a lot with steps related to actual sourcing. They help clients reduce total cost of ownership and achieve higher savings.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 52

Jaggaer

OCTOBER 24, 2024

Traditional vs Collaborative Procurement Approaches Historically, procurement teams have focused on getting the lowest price possible from suppliers to reduce costs. By consolidating orders from various departments or facilities, companies can leverage economies of scale, thereby negotiating better pricing from suppliers.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain budgeting 52

Empowering CPO

FEBRUARY 20, 2023

Procurement organizations and sourcing companies adopt different methods to negotiate prices with vendors. The Lot total should represent the Total Cost of Ownership for the buyer and should include all factors so as to ensure an apple-to-apple comparison. What is Lotting Strategy?

Strategy 52

Strategy Cost of ownership Strategic sourcing Strategic sourcing 52

Supply Chain Game Changer

NOVEMBER 13, 2018

Strategic Sourcing is a proven approach to understanding and delivering significant cost reduction based on Total Cost of Ownership (TCO), building a sustained value – creating relationship with the suppliers and category spend reduction in order to create and sustain a competitive advantage. What is Strategic Sourcing?

Strategic sourcing 73

Strategic sourcing Strategic sourcing Procurement supply chain budgeting 73

Positive Purchasing

JANUARY 13, 2023

This can not only affect the price you pay, but also impact your reputation, so make sure you dig deeper and ask. Whilst there is still a hefty upfront cost, the cost of ownership for their staff is considerably less than a petrol or diesel vehicle in terms of fuel savings and tax relief benefits. New technology.

Procurement 98

Procurement Supply Chain Efficiency Cost of ownership Demand 98

Skill Dynamics

JULY 19, 2024

Taking the time to invest in these relationships can lead to better prices, quality, and reliability. All of this will ultimately lead to reduced costs throughout your supply chain, and improved supply chain performance as you increase reliability and mitigate risk.

Procurement strategies 90

Procurement strategies Strategy Procurement supply chain budgeting 90

Skill Dynamics

MARCH 12, 2024

Making informed decisions, supporting profitability objectives, and aligning with strategic priorities are all positive impacts of cost optimization tools. Considering TCO goes beyond simply evaluating the initial purchase price. This includes maintenance, operation, support, and disposal costs.

Cost optimization 69

Cost optimization Cost of ownership Procurement Strategy 69

SCMDOJO

FEBRUARY 13, 2023

[Read More: Top 16 Procurement KPIs – The Ultimate Guide ] Key Takeaways The procurement department is critical to an organization, obtaining quality goods and services at competitive prices while ensuring the organization’s resources are needed to succeed. This helps the organization derive the best value from products and services.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

Barkers Procurement

FEBRUARY 20, 2023

Strategic procurement is not just about getting the lowest price but finding the best value for the organisation. This includes considering factors such as the overall cost of ownership, the quality of the goods or services, and the level of service the supplier provides. A focus on value. Continuous improvement.

Procurement 52

Procurement Cost of ownership Supplier negotiation Quantity 52

Supply Chain Game Changer

MARCH 24, 2020

lower pricing), when supply is disrupted all of these advantages disappear. Taking Total Cost of Ownership Seriously. Total cost of ownership (TCO) is a Procurement sourcing methodology which entails taking into account all aspects of doing business with a supplier, not just unit costs.

Agile and Lean Supply Chain 82

Agile and Lean Supply Chain Supply chain Supply Cost of ownership 82

Supply Chain Collaborator

APRIL 7, 2016

Is it even possible to make a well-conceived choice that protects your legacy as visionary leader with a knack for sussing out the solution with the most applicable capabilities with appropriate total costs of ownership? . It should contain rate structure for any costs occurring outside the quoted cost. It can be done.

Cost of ownership 61

Cost of ownership Buyers Logistics Change management 61

Una

SEPTEMBER 22, 2022

This guide to IT procurement is designed to help you navigate the often complex process of searching for and comparing different technology providers, negotiating contracts and pricing, and implementing the right IT tools to drive productivity and efficiency without sacrificing your organization’s bottom line. Look Beyond Cost.

Procurement 98

Procurement Real-time Visibility Contract Purchasing 98