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SCMDOJO
OCTOBER 27, 2023
Supplier negotiation is the most critical skill in the world of procurement. 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. The following are common types of negotiation in procurement: 1.
Una
MARCH 8, 2023
Pain Points in Procurement Series When Supplier Negotiations Come to a Standstill What to do when supplier negotiations appear to be at an impasse, why negotiations break down, and how to up your chances for success. Why do supplier negotiations break down?
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From Rigid To Resilient: Why Enterprises Need Modular Commerce Now
Staying Ahead of UFLPA Enforcement: Best Practices for Retail Supply Chains
Supply Chain Dive
MARCH 2, 2023
Procurement teams need to be prepared with good reasons as to why their vendor should lower prices. Here’s what to consider before asking for lower costs.
Procurement Templates
DECEMBER 11, 2024
Strategic Objectives Cost Savings: Achieve cost reduction targets through effective supplier negotiations and strategic sourcing. Supplier Relationship Management: Build and maintain strong supplier partnerships to ensure long-term business value. Savings can be cashable or non cashable i.e. cost avoidance.
130 
Procurement Tactics
FEBRUARY 19, 2023
Sourcing suppliers ChatGPT can help procurement professionals to identify potential suppliers by analyzing supplier data. Additionally, it can identify potential suppliers based on their industry, location, or product/service offerings. Here are some ways ChatGPT can help procurement professionals: 1.
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SCMR (Supply Chain Management Review)
MARCH 1, 2024
Project seeks to “place a data scientist in the pockets” of procurement professionals.
Jaggaer
MARCH 24, 2025
Impact on Procurement: Gen AI leverages vast datasets to generate actionable insights, helping procurement teams predict future trends, such as market shifts, supplier performance, and demand fluctuations. Impact on Procurement: Spend analytics give CPOs visibility into spending patterns, supplier performance, and inefficiencies.
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Procurement Software
MAY 21, 2024
But, this then begs the question, what about negotiation? Could AI replace the need for procurement professionals in negotiations? AI, procurement and supplier negotiations: where is this going? Technology for assisting and running negotiations therefore not just about automated negotiation bots.
ProcurePort
MAY 10, 2023
• Improved Cost Efficiency: Strategic sourcing software enables businesses to analyze and optimize their procurement processes, resulting in significant cost reductions and improved supplier negotiation outcomes.
SCMDOJO
FEBRUARY 16, 2025
They can proactively identify risks, optimize processes in real time, and even negotiate supplier contracts without human oversight. Keelvar Keelvar specializes in autonomous procurement and supplier negotiations, making sourcing more efficient and cost-effective. Assesses supplier bids and optimizes contract terms.
Spend Matters
MARCH 25, 2025
Suppliers and external partners contribute another layer of complexity, as they rely on procurement systems for seamless onboarding, data accuracy and operational efficiency. Finance departments focus on spend visibility, payment optimization and cost control. IT departments prioritize system integration, security and usability.
TYA Suite
NOVEMBER 15, 2024
This introduction to supplier risk management outlines the importance of effectively identifying and managing risks that may arise from suppliers. Supplier risk management is crucial for businesses, as it helps them mitigate potential challenges that can disrupt operations. This process is known as supplier risk management.
ProcurePort
AUGUST 18, 2021
While this may sound simple, a lot of work happens in between when challenges in procure to pay process to arise including finding the right supplier, negotiating contracts, tracking supplier performance, following up on discounts, […].
Una
APRIL 13, 2023
Pain Points in Procurement Series Moving Supplier Relationships from Transactional to Strategic Tips for shifting your supplier relationships from transactional to strategic in an effort produce more cost-saving ideas and value. Transactional versus strategic supplier relationships See the difference? Do you enjoy steak?
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SCMDOJO
FEBRUARY 21, 2025
Build strong supplier partnerships for long-term stability. Supplier Financial Instability: Bankruptcy or operational shutdowns of key vendors. Damaged supplier relationships and business reputation. Improved Supplier Collaboration: Stronger relationships lead to better service levels and pricing.
Spotlight on Procurement
APRIL 29, 2020
Simon Lipscomb, Sales and Marketing Director at Efficio speaks to Greg Horgan and Tibor Sotkovszki about how to run successful supplier negotiations Key discussion points include: How to approach supplier negotiations Key to success in negotiations Long term impact of negotiations
Procurement Insights
DECEMBER 20, 2024
Fast ROI Through Cost Savings: Tracks supplier input costs (e.g., commodities) and provides actionable insights for negotiating better prices. Enables procurement teams to capitalize on supplier cost reductions (e.g., Reducing supplier costs. declining raw material prices). No; fully manual.
Let's Talk Supply Chain
FEBRUARY 27, 2025
Hear are some strategies to consider: Supplier Negotiations: Regularly review and renegotiate contracts with suppliers to secure better pricing terms. Diversification: Diversify your supplier base to spread risk and take advantage of different pricing structures.
Procurement Tactics
APRIL 17, 2023
Usually, market research covers sourcing for new available suppliers. Requisition For Quotation (RFQ) The request for quotation is part of the procurement process where you ask suppliers for the initial pricing of their materials or services. With this approach, the business limits the requirements as much as possible.
201 
Procurement Insights
APRIL 3, 2025
Heres an analysis of the unique benefits that ThroughPut.ai, FlockScore, and ProcurEngine can offer to address common supply chain challenges such as inefficiencies, demand forecasting, cost management, and supplier performance. These insights are based on their general focus areas within the ProcureTech and supply chain optimization space.
Spend Matters
JULY 15, 2024
Imagine a company navigating a complex network of supplier negotiations, payment terms and cash flow management. In the realm of modern business operations, effective financial management is not just a task, it’s the heartbeat that drives growth and sustains operations.
SCMDOJO
MARCH 12, 2025
Introduction Negotiation is at the heart of supply chain management. Whether dealing with suppliers, logistics providers, or internal stakeholders, striking the right balance between assertiveness and flexibility is key. Understanding Compromise in Negotiation Negotiation requires a deep understanding of power dynamics.
52 
Procurement Insights
MARCH 16, 2025
How Procurement Professionals Use or Interact with Model Context Protocol (MCP) Procurement professionals interact with AI models that utilize Model Context Protocol (MCP) in various ways, especially within digital procurement platforms, supplier management systems, and spend analytics tools.
Procurement Tactics
MAY 30, 2023
Procurement managers, also known as purchasing managers, supervise a company’s relationship with suppliers and the logistics of transportation. Procurement managers are responsible for negotiating with suppliers to obtain favorable pricing, resulting in significant cost savings for the organization.
178 
Procurement Foundry
AUGUST 29, 2022
A stellar negotiation strategy allows you to achieve astounding results. Procurement practitioners today have a lot on their plates. They must keep costs low without sacrificing quality. Sometimes, this can seem like mission impossible. However, some brands can achieve this cost-savings mission. for years.
SCMDOJO
FEBRUARY 26, 2025
indicates cost inefficiency, signaling a need for supplier negotiations or alternative sourcing strategies. Measuring Supplier Performance CPI is a valuable metric in supplier evaluation , helping businesses analyze whether suppliers are delivering goods at the expected cost efficiency levels. A CPI of 0.83
CPO Rising
FEBRUARY 3, 2023
Fridays (in 2023) means that it’s time for another CPO Rising Listicle. Each list will include a variety of procurement tips, trends, insights, research, lists, strategies, and/or recommendation designed to help procurement teams improve operations. We’ll also include a summary graphic for you to share with your team.
Procurement Tactics
JUNE 28, 2023
It typically looks for details such as supplier information, item descriptions, quantities, prices, or arrival dates. Supplier Performance The quality, timeliness, and adherence to contractual commitments of suppliers shall be monitored. This approach promotes efficiency throughout the whole procurement process.
Procurement Insights
AUGUST 27, 2023
@momalicious5 #kids #store #tantrum #embarrassing You think you’re going to embarrass me You will be mistaken ♬ original sound – Momalicious5 30
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. Approach : Data-driven, emphasizing external market insights to level the playing field between buyers and suppliers. Strength: Empowering human negotiators with actionable insights.
52 
CPO Rising
JANUARY 12, 2024
Editor’s Note: Over the next few weeks on CPO Rising, we’re publishing some “best of” 2023 articles as we reflect on the year and prepare for the new year ahead. Fridays (in 2023) means that it’s time for another CPO Rising Listicle. Each list will include a variety of procurement tips, trends, […]
Jaggaer
FEBRUARY 5, 2025
The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items. These begin with enhanced visibility.
ivalua
MARCH 9, 2023
Similar to how CRM manages everything around the customer, an S2P platform manages everything around the supplier. It is a crucial process for organizations that are looking to streamline their procurement activities, better manage spend and suppliers and increase operational efficiency. What is Source-to-Pay?
130 
Supply Chain Game Changer
JULY 16, 2019
Supplier Relationships – Don’t go over to the Dark Side! Shortly after I joined the Commodity/Category Management Procurement organization I was invited to attend the annual Strategic Supplier Awards event. There were Executives from dozens of Suppliers in attendance. Suppliers may be called Preferred or Tactical.
Una
MARCH 6, 2023
Procurement process automation can involve anything from automated supplier discovery, risk monitoring, payment processing, spend analytics , and contract approval. The exciting part is that automation frees up your team for big-picture projects, supplier relationship management, strategic planning, and continuous improvement.
98 
ivalua
OCTOBER 8, 2021
Disrupted supply chains had many retailers looking for alternative local suppliers for equipment, materials, supplies, and more. . Procurement can also assist retailers in setting up direct-to-supplier relationships with goods and services providers, and eliminate the middleman altogether. . Attack GNFR Spend.
130 
Procurement Templates
APRIL 15, 2024
In procurement, they might be more inclined to adopt innovative solutions or new suppliers that offer unique products or services. This might mean trying out new vendors or negotiating non-traditional contracts to achieve better results. Risk-taking: High openness can also lead to a greater willingness to take calculated risks.
130 
Una
APRIL 6, 2023
Benefits realization in procurement Without monitoring contract compliance and supplier performance over time, the monetary and other benefits you worked so hard to secure throughout the supplier negotiation can be seriously eroded. What exactly is benefits realization?
97 
World of Procurement blog
MAY 23, 2024
Supplier consolidation refers to the strategy of reducing the total number of suppliers that a company deals with and instead focusing procurement spending on a select few preferred suppliers. Having strategic partnerships allows suppliers to lower prices. Look for suppliers with the best pricing structures.
Procurement Templates
MARCH 3, 2024
Market Research : Conducting research on available suppliers, products, and market trends is essential for making informed procurement decisions. This involves assessing suppliers’ capabilities, pricing, quality standards, and reputation. Assess supplier performance, capabilities, reliability, and overall value delivered.
Spend Matters
OCTOBER 24, 2024
The engineers write up their specifications and send it to procurement; procurement sends it out, gets the quote back from suppliers and returns it to the engineers. It’s a continuous loop for one part, and there are always questions because suppliers do not always understand the specifications. “So, It’s not one loop, though.
119 
Una
NOVEMBER 16, 2022
The centralized procurement team scopes out the project, approaches the market, evaluates suppliers , negotiates a volume discount, and awards the contract to a single supplier. Better communication and relationships with suppliers. Improved supplier risk management. Increased supplier diversity.
98 
Procurement Insights
JANUARY 3, 2025
20152020: Procurement Gains Strategic Recognition Emergence of Strategic Sourcing : CFOs began to recognize procurement’s role in driving long-term value through strategic sourcing, supplier relationships, and risk management. Analytics and insights from procurement data were minimal.
SCMDOJO
DECEMBER 14, 2023
These agencies are experts at finding good suppliers, talking about fair deals, and making sure everything gets to where it needs to be. Task-Specific Services: Primarily involved in tasks like supplier identification, negotiation, and quality control. It makes the job of getting goods and services easier.
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