Procurement Tactics

MARCH 16, 2023

Strategic Sourcing Strategic sourcing assesses the patterns of business spending in order to find and choose the best suppliers that align with your business goals and objectives. Negotiation Course For Procurement Professionals You'll get a certificate after completing the course LEARN MORE Rated 9.2/10

Procurement 238

Procurement Procurement strategies supply chain budgeting Contract management 238

World of Procurement blog

MAY 8, 2024

Cost Savings - The total cost reduction achieved through strategic sourcing, price negotiations, product rationalization etc. Contract Compliance - The percentage of spending that aligns with established contracts. High compliance reduces maverick buying. Tracking savings demonstrates procurement value.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Procurement Insights

OCTOBER 8, 2024

Instead, CPOs were focused on traditional procurement activities, such as negotiation , quality management , and risk mitigation , with an emerging interest in strategic sourcing and early forms of procurement automation. While globalization and technology were on the horizon, they were not yet major concerns.

Chief Procurement Officer 52

Chief Procurement Officer Supply Chain Efficiency Procurement Supply Chain Optimization 52

Empowering CPO

JULY 2, 2023

Modern procurement services encompass a wide range of activities such as strategic sourcing, category management, contract negotiation, risk management, and supplier relationship management. However, in today’s complex and globalized economy, procurement goes far beyond simple buying.

Management 40

Management Supplier relationship management Procurement Strategic sourcing 40

Arkestro

JULY 25, 2024

Another example is price negotiations. While negotiations may seem like a “zero-sum game” where one party benefits over the other, they can actually become mutually beneficial if game theory is applied. For example, consider auctions — game theory can predict bidding behavior when suppliers submit bids in a sealed-bid auction.

Procurement 52

Procurement Bidding Negotiation Price 52

Zycus Cognitive Procurement

JULY 25, 2022

According to the latest PwC global digital procurement survey report 2022, digital transformation is the third most important priority after cost reduction and strategic sourcing. However, implementing new procurement processes and technological platforms based on Software-as-a-Service (SaaS) requires thorough planning. .

supply chain budgeting 52

supply chain budgeting Procurement Agile and Lean Supply Chain Management 52

Empowering CPO

DECEMBER 4, 2020

Based on the volumes of packages sent by an organization, the threshold value can be negotiated in shipper agreements up to 4 cu. Maintaining the current threshold or further negotiating a higher threshold can negate impacts of dimensional weight pricing. Negotiating divisor value. feet (7000 cu.

Negotiation 52

Negotiation Price Contract Price negotiations 52