What Is the Reverse Auction Process? With procurement and sourcing, eSourcing is one of the most important pieces. You can’t make products without obtaining goods and services. The trick with sourcing is to get quality products at a lower price to help save money while maintaining solid relationships with your suppliers. Using eAuction software has […]
How to Use Information Technology in Supply Chain Management Before the Internet was a vital tool in business, the supply chain was a much different place than today. It was slow-moving, achieving the result (product or service) took a much longer time, and dealing with suppliers was a much different story. However, the use of […]
Why Are Reverse Auctions So Controversial? Like many things in life, a lot of controversy surrounds the practice of reverse auctions because they are often misunderstood. However, those who regularly use them as part of their strategic sourcing methodology understand the relationship between reverse auctions and success in strategic sourcing. Of course, a reverse auction […]
How to Streamline Your Procurement Process from Weeks to Hours When contract management and procurement software first arrived on the scene, overnight it became an easy way to streamline the procurement process. Businesses didn’t have to rely on excel, emails, conversations, and word documents as much as they did in the past. In addition, having […]
What Are Strategic Suppliers? In the world of procurement management, one thing that’s a given is working with suppliers. One of the most important sourcing and procurement techniques is working with strategic suppliers and ensuring that you have a good relationship and understanding with this supplier base because this has a lot to do with […]
What is eTendering and Its Process? eTendering has become a must in today’s global economy, particularly in the supply chain and procurement. You may find that if you’re talking about global markets that eTendering is the more common term, but if you’re talking about tendering just within the United States, eRFX is the more commonly […]
What is a Reverse Auction? Why Do Buyers Like Them? As the process of procurement has become more automated, so has the strategic sourcing process and the components within it. Instead of simple, straightforward auctions or eAuctions where buyers bid on goods and services, today, there are many more options available for different types of […]
Spend Analysis in Supply Chain Management The broader picture beyond procurement is the supply chain, as procurement (or purchasing) is just one step in the supply chain. Fundamentally, the goal of the supply chain is to take raw goods and materials and, in the end, have a finished product that a consumer or end-user desires. […]
Top 5 Sourcing and Procurement Techniques With sourcing and procurement, a solid strategy is essential to ensure that your ROI is strong, your relationships with your suppliers are doing well, and that your team appropriately supports your stakeholders and company’s overall goals andobjectives. Sourcing and procurement in supply chain management play some of the most […]
Your Guide to Optimizing Category Management in Procurement (During Covid-19) Category management in procurement is an integral part of the procurement strategy in which procurement managers take specific products or services and divide them into certain categories. This technique is often used in the retail world and can be a tough term to define, as […]