Sourcing Strategies

The Value of Preparation in Advance of Procurement Negotiation

We all likely know how to achieve best practices in negotiations. You want to come to the best possible solution for both sides—win/win, and you already know your goals and timeline, you’re familiar with the contract you want, and you know how to play well in any situation. That, unfortunately, isn’t enough. Let’s look back

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Supply Chain Management

The Real Impact of War on Global Supply Chains

There are obvious supply-chain impacts from war. Shortages, escalating prices, and the flow of goods are common short and long-term examples. The ongoing conflict between Russia and Ukraine and the more recent bloodshed between Hamas and Israel are certainly exhibiting the supply-chain impact mentioned. Still, there are more subtle effects as well. The Russia/Ukraine War

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Supply Chain Management

How Higher Freight Impacts Procurement Challenges

Many supply chain elements take a toll on procurement professionals, and the increase in freight charges accounts for a myriad of woes. Here’s a look at a few of those woes, including the impact of higher costs, timing as it applies to what’s happened to Just-in-Time delivery and the ongoing delivery delays, how freight challenges

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Sustainability

Ethical Considerations in Procurement: Nurturing Transparency, Fairness, and Social Responsibility

Procurement is crucial for any organization, encompassing acquiring goods and services to support business operations. However, this seemingly routine process can significantly impact a company’s reputation, sustainability, and overall success. Ensuring ethical procurement practices is paramount, as it fosters stakeholder trust, safeguards against potential conflicts of interest, promotes fair treatment of suppliers, and upholds corporate

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Supply Chain Management

Supply Chain Health—2023

There’s an inherent disconnect when discussing “health” when systemic crisis is the new norm. In 2022 supply chain woes were rampant–from port blockage, rising inflation, slowing demand, the war in Ukraine, COVID lockdowns, elevated inventory, hurricanes, and even MIA employees. Although there were improvements in some of these issues, disruptions to supply chain operations will

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Supply Chain Management

Supply Chain Disruption, Inflation, and a Chance for Procurement to Change

It was the worst of times, and then it got even worse. That’s the reality of the supply-chain disruptions during the past few years—rapidly evolving from a reliable supply and stable pricing to soaring inflation and never-ending disruptions of virtually every type. Somehow, our behavior surrounding disruption tends to be consistent. There’s a significant challenge,

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Supply Chain Management

Can There be Procurement Sanity When the Supply Chain is a Hot Mess?

Over the past few years, supply chains have had virtually everything thrown at them: tariffs, a pandemic, inflation, transportation/logistics nightmares, inability to find staff, and even war. For the most part, these disruptions came out of nowhere, suddenly causing devastating results. This dynamic environment has challenged the post-professional and advanced procurement teams—what is it doing

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Digitalisation

Why Haven’t You Automated Accounts Payable Yet?

Accounts Payable handles so much more than just paying incoming bills and invoices, particularly given today’s unrelenting global challenges. Manual Payment is Out When payments are manual, it goes like this: Receive a paper invoice Manually enter or scan invoice Manually route invoice to designated staff for approval Send payment Manually record payment for records

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Supply Chain Management

Why APIs are the Answer to Your Procurement Woes

Since the invention of the relay, buying electronic components has been a manual process. Enter 2022, after two years of a pandemic and untold supply chain disasters and shortages, and many buyers are taking a new look at what can be done, including: Modifying the time it takes for purchase approvals Streamlining the quotation process

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Supply Chain Management

How to Nail Procurement Efficiency

Okay, we all know that there are levels of efficiency and that if you have inefficiencies going on now, things won’t be fixed overnight. Efficiency requires process streamlining, documentation, optimization, naturally automation—and also just getting a real grasp on your current status. Being honest about what you need to improve and how you stack up

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