Spend Matters

NOVEMBER 19, 2024

Beyond timely delivery, companies need to consider ethical and long-term sustainability issues. As global supply chains and regulations become more complex, risk tech must offer multiple views — on products, materials, suppliers — to help users assess disruptions and make quick, informed decisions about alternatives pricing, and mitigation.

Risk management 107

Risk management Risk Management Real-time Visibility 107

Procurement Tactics

APRIL 18, 2023

Furthermore, supplier assessment in sustainability can help businesses to ensure that the suppliers are compliant with their sustainability standards and that they are practicing ethical practices within their operations. Additionally, supplier assessment enables companies to utilize resources efficiently. Why is it important?

Sustainability 196

Sustainability Suppliers Procurement Ethics 196

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

SCMDOJO

FEBRUARY 21, 2025

Improved Supplier Collaboration: Stronger relationships lead to better service levels and pricing. Regulatory Compliance: Ensures adherence to industry laws, ESG policies, and ethical sourcing. Risk Reduction: A diversified supply base and contingency planning minimize disruptions. Want to achieve these benefits?

Agile and Lean Supply Chain 59

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency Supply chain 59

Procurement Tactics

APRIL 12, 2023

In business, sustainability is known as corporate sustainability which is the coordination and management of environmental, social, and economic demands and concerns ensuring ethical, responsible, and ongoing success.

Sustainability 180

Sustainability Ethics Negotiation Procurement strategies 180

Jaggaer

OCTOBER 24, 2024

Conventional transactional relationships focus on price and delivery terms. The aim is not simply to drive down the price, but the total cost. Price per mile is only a starting point. However, supplier collaboration involves sharing information, resources, and expertise to create synergies that lead to mutual benefits.

Collaboration 52

Collaboration Innovation Suppliers Supply Chain Efficiency 52

Procurement Heads

JANUARY 4, 2023

Yet this is at a time when many suppliers are looking to renegotiate commercial arrangements due to supply disruption or pass on inflationary pricing increases because they’re dealing with higher wages and bills. I need to ensure that supply chain ethics are closely attended to.

Supply Chain Efficiency 246

Supply Chain Efficiency Agile and Lean Supply Chain Sustainability Suppliers 246

Procurement Tactics

JUNE 28, 2023

It typically looks for details such as supplier information, item descriptions, quantities, prices, or arrival dates. This includes checking standards of ethics, legal requirements, supplier diversity, and minimizing any risk that may arise in connection with the procurement activities.

Supply Chain Efficiency 178

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

SCMDOJO

SEPTEMBER 24, 2024

Risk Management : Outsourcing exposes companies to risks such as supply chain interruptions, price fluctuations, or geopolitical issues. External sourcing adds supplier pricing, shipping, and handling fees. Ignoring Ethical Considerations: Address ethical concerns such as labor practices, environmental impact, and human rights issues.

Supply Chain Efficiency 98

Supply Chain Efficiency Supply chain management Supply chain management supply chain budgeting 98

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 Tactics

MAY 30, 2023

Their primary responsibilities include negotiating with suppliers to obtain favorable terms and prices, ensuring the quality and timely delivery of goods and services, and managing the procurement process from start to finish. Furthermore, procurement managers ensure that the procurement process complies with legal and ethical standards.

Management 178

Management supply chain budgeting Procurement Negotiation 178

Jaggaer

NOVEMBER 14, 2024

Collaborating with innovative suppliers can help manufacturers command premium prices and even create new revenue streams. This ensures a continuous flow of products and revenue while impressing customers with ethical and transparent sourcing practices.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Chief Procurement Officer Supply Chain Optimization 52

TYA Suite

DECEMBER 16, 2024

Ethical and sustainable sourcing is no longer just a trend; its a commitment to doing business responsibly. For eco-friendly businesses, sourcing products and materials ethically means prioritizing fair labor practices, minimizing environmental damage, and supporting sustainable suppliers. What is the Meaning of Ethical Sourcing?

Ethics 40

Ethics Sustainability Sourcing Supply Chain Efficiency 40

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. This involves selecting suppliers and partners who are committed to ethical and eco-friendly practices.

Sustainability 130

Sustainability Supply Chain Efficiency Procurement Ethics 130

Value Match

MARCH 2, 2023

The event is recognised across many countries including the UK and it brings together individuals, businesses, and organisations to promote the principles of fair trade, including fair prices for producers, safe and healthy working conditions, and environmental sustainability.

Ethics 52

Ethics Sustainability Supply chain Suppliers 52

Procurement Tactics

DECEMBER 21, 2022

Enhanced ethical standards. Collaborating with your trusted supplier allows you to aim toward supply chain transparency and promote higher ethical standards. . Collaboration is key for you to drive change in the supply chain. Ultimate Supplier Plotting Checklist 2023. Download Whitepaper →. .

Collaboration 199

Collaboration Supply Chain Optimization Supply Chain Efficiency Supply chain 199

SCMDOJO

FEBRUARY 5, 2025

Comprehensive Curriculum: MCIPS covers a broad spectrum of topics, from procurement principles and strategies to contract management, negotiation, and ethical considerations. Check with approved study providers: Contacting institutions that offer MCIPS courses will provide detailed pricing for their respective programs.

Procurement 59

Procurement Real-time Visibility supply chain budgeting Supply Chain Optimization 59

Skill Dynamics

JULY 22, 2022

A good negotiator can ensure the right prices are secured, which makes a significant contribution to an organization’s success. Ethics and reliability. Ethical standards and reliability in a skilled negotiator stimulate trust for an effective negotiation to take place.

Negotiation 111

Negotiation Supply Chain Efficiency Supply chain Procurement 111

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

Procurement Tactics

AUGUST 9, 2022

The goal of every organization when procuring materials is to get the maximum value for the lowest possible price. . The organization must be wary of vendors whose pricing is far lower than others. The price might be low but so is the quality of materials. Price is a great factor to choose a vendor.

Vendor relationships 130

Vendor relationships Quality Price Bidding 130

Procurement Tactics

AUGUST 17, 2022

The assessment of the supplier includes a review of the supplier’s quality of product or service, price, financial stability, delivery times, and customer service. . It is ideal that the suppliers should align with the customers and the organization by sharing the same business ethics. Align customer and business practices.

Suppliers 130

Suppliers Procurement Quantity Price 130

ivalua

MAY 6, 2021

These include faster co-innovation with suppliers, working with sustainable and ethical suppliers and empowering employees — all of which will lead to increased business agility. . Other examples include excessive price variances, duplicate invoices or superfluous approvals. 3) Optimize Decision-Making. 3) Optimize Decision-Making.

supply chain software solutions 130

supply chain software solutions Procurement Agile and Lean Supply Chain Supply Chain Efficiency 130

Procurement Tactics

JULY 13, 2022

Through the use of social media, people have become more concerned with ethical standards when it comes to procurement. The suppliers are selected based on their qualifications, risk factors, price and quality of products, and policy compliance. It affects the profitability of a business if they buy materials that are high in price.

Procurement 130

Procurement supply chain budgeting Negotiation supply chain software solutions 130

Procurement Templates

APRIL 15, 2024

Negotiation Strategies: Develop negotiation strategies to achieve better terms, prices, and value from suppliers. Transparency: Maintain transparency in procurement processes by adhering to ethical standards, fair practices, and open communication.

Procurement team 130

Procurement team Contract management Innovation Contract 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. This ongoing trend accelerates the shift from a historically category-centric, price-focused approach to a more supplier-centric paradigm.

Procurement solutions 99

Procurement solutions Supply Chain Optimization Procurement Supply Chain Efficiency 99

Jaggaer

OCTOBER 24, 2024

The ideal criteria for partner selection encompasses both pricing and non-pricing details to pinpoint suppliers that are aligned with your goals. Some of the risks in this industry include volatility in commodity markets, geopolitical unrest, the need to adhere to ethical standards, and reputational damage.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency Agile and Lean Supply Chain 52

SCMDOJO

JUNE 6, 2024

Affordable Pricing: The program offers competitive pricing and value compared to traditional university programs or in-person training. Ethical and Sustainable Procurement: The curriculum emphasizes the importance of responsible sourcing practices, aligning with the growing demand for ethical and sustainable supply chains.

Procurement 105

Procurement Supply Chain Optimization Supply Chain Efficiency Ethics 105

Let's Talk Supply Chain

MARCH 4, 2025

Market manipulation and price fluctuations. Some of the key ‍ include: Geopolitical tensions affecting access to key mining sites. Environmental impact of mining and processing rare ‍earth minerals. Supply chain disruptions due to transportation ‍issues.

Supply chain 52

Supply chain Raw materials Supply Sustainability 52

Skill Dynamics

DECEMBER 18, 2024

This reduces competition and can lead to inflated prices and potentially compromised quality of your goods and services. It reinforces your organizations reputation as a credible, transparent, and ethical business with your customers, suppliers, and the relevant regulatory authorities.

Risk 52

Risk Strategy Supply Chain Efficiency Procurement 52

SCMDOJO

OCTOBER 27, 2023

Effective supplier negotiations do not limit to the best price but a mutually beneficial agreement from both the parties that can have a profound impact on the company. Price Negotiation: This negotiation focuses on haggling over the cost of goods or services to obtain the best price for procuring products or services.

Supplier negotiation 105

Supplier negotiation Negotiation Suppliers Supply Chain Efficiency 105

Procurement Heads

FEBRUARY 22, 2023

In the absence of strong government policies, like an effective price on carbon, it is down to businesses to drive the transformation to a more sustainable world. It also covers ethical or governance topics, things like compliance with data protection and financial crime requirements which are important to us in the insurance sector.

Sustainability 246

Sustainability Influencing Suppliers Supply chain 246

The Thomas Blog

AUGUST 2, 2022

In a recent Industrial Buyer's Search Habits Survey , one purchasing supervisor that "having more online information like specifications, pricing, lead time, and stock levels online are important when I'm vetting new suppliers and will make my job easier.". Study Business Ethics And Culture.

Buyers 144

Buyers Quality Ethics Export 144

SCMDOJO

JUNE 11, 2024

Affordable Pricing: The program offers competitive pricing and value compared to traditional university programs or in-person training. Ethical and Sustainable Logistics: Emphasizes the importance of responsible logistics practices, aligning with the growing demand for ethical and sustainable supply chains.

Logistics 97

Logistics Logistics tracking Supply Chain Efficiency Supply Chain Optimization 97

World of Procurement blog

APRIL 23, 2024

These individuals are responsible for obtaining goods and services at the best possible price to enable a company to operate. Below are the top 20 skills they need to master: Negotiation Skills : The ability to negotiate favorable terms, conditions, and prices is essential.

Procurement 52

Procurement Ethics Supplier relationship management Market knowledge 52

World of Procurement blog

APRIL 23, 2024

These individuals are responsible for obtaining goods and services at the best possible price to enable a company to operate. Below are the top 20 skills they need to master: Negotiation Skills : The ability to negotiate favorable terms, conditions, and prices is essential.

Procurement 52

Procurement Ethics Supplier relationship management Market knowledge 52

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 Negotiation 187

Finale Inventory

JULY 21, 2024

Understanding the Concept of Arbitrage At its core, arbitrage refers to the practice of taking advantage of price inconsistencies in different markets to generate profits. The basic definition of arbitrage involves buying a product or asset at a lower price in one market and selling it for a higher price in another market.

Ethics 52

Ethics Inventory Price Risk management 52