"Why don’t you learn from my mistakes? It takes half your life to learn from your own." (S. Delaney) Digital Transformation of Procurement – How to Avoid Common Mistakes (Part 1) Digital transformation of Procurement is a very important step in the improvement of your business. However, when introducing a new mode of operation in [...]
"There's no way to succeed in business without the highest ethical standards." (J. Belfort) Ethics in Procurement Ethical behavior plays a very important role in Procurement. It’s a department that cooperates with a large number of suppliers on a daily basis: procurement professionals select and evaluate suppliers, negotiate with them and conclude contracts that directly [...]
"It's no longer the big beating the small, but the fast beating the slow." (E. Pearson) What's the Impact of Digital Transformation of Procurement on Your Business? Researches on changes in the procurement process over the years often forget to mention how simple and easy Procurement is today. Thanks to advanced specialized software solutions, procurement [...]
“Business must be the solution, not the problem!” (D. Weaver) Top 3 Procurement Challenges and How to Overcome Them Procurement is one of the core departments in a business. If properly structured an organized, it brings numerous benefits and adds value to the company. However, tasks procurement professionals face every day are everything but easy [...]
“Strive for continuous improvement instead of perfection.” (K. Collins) Procurement evolution Saying procurement is “as old as mankind” wouldn’t be far from the truth. Namely, the first evidence of the existence of supply can be found in ancient history, three thousand years before Christ, where records on how the Egyptians purchased Pyramid materials were found. [...]
“In business as in life, you don't get what you deserve – you get what you negotiate.” (C. L. Karrass) 5 Tips for Successful Negotiations The main task procurement professionals have is to procure products or services by getting best possible deals and maintaining good quality. Some people are born with good negotiation skills, but [...]
“Innovation is change that unlocks new value.” (J. Notter) Top 3 Procurement Trends in 2018 Every New Year brings new trends. With great excitement we await for predictions and announcements of innovation and new technology that will bring positive changes in our lives in the forthcoming year. Since we’re very curious, we’ve done some research [...]
“All models are wrong but some of them are useful.” (G. Box) What are eAuctions and when to use them? One of the most powerful tools procurement softwares offer are eAuctions. eAuctions in Procurement are a unique market concept where buyers and sellers don’t negotiate face to face, but sellers compete with each other on [...]
“Research is creating new knowledge.” (N. Armstrong) Gathering Market Information Through RFI Regardless of the industry your business is in or which products or services you purchase, it is very important for you to conduct a quality market research before starting the procurement process. Supply and demand are constantly changing, and adapting your business to [...]
“Risk comes from not knowing what you're doing.” (W. Buffet) Risk Management in the Supply Chain The main risk of the 21st century is lack of knowledge! If we don’t have enough knowledge of our procurement department and our company in general, it is very likely for us to become run over by the competition [...]
