How Do You Develop Strategic Relationships with Suppliers? One of the most significant pieces when it comes to sourcing and procurement solutions is your suppliers. As you procure goods and services, you will have different levels and types of suppliers, and not all of them will be at the same strategic level, including the most […]
Contract Management 101: The Best Contract Management Systems Sourcing and contract management is one of the biggest pieces of the puzzle when it comes to procurement, and managing your contract management system well is important. Now that most procurement systems are automated, the most common way to manage contracts is by using procurement contract […]
5 Benefits of Global Sourcing in Supply Chain Management The importance of quality in supply chain management is undeniable. When the topic of global sourcing comes up, procurement managers often balk at global sourcing in supply chain management because they worry they will have to sacrifice quality or delivery when using global suppliers. While it […]
The Importance of Using Supply Chain Management Software in Procurement The importance of using supply chain management software is notable because of the importance of the supply chain itself. When you’re trying to control the entire procurement process within the supply chain, you want to make sure that you have the best software for your […]
How to Optimize the Reverse Auction Process Just like it sounds, a reverse auction is the opposite of that of a regular auction. If you’re wondering, “what is an e-reverse auction?” it is a step in the procurement process where sellers compete against each other to sell you their product or service as opposed to […]
Supply Chain and Risk Management Software In all stages of the procurement process, there are risks. There is the supply chain in the overall big picture, of which procurement is involved. Suppose you think about the main purposes of procurement. In that case, they are essentially the preparation and processing of a demand needed to […]
Top 5 Reasons You Need Procurement Tracking Software Once upon a time, companies had to manage purchasing departments and procurement management as though it was the Dark Ages. Everything was done by hand—there were no computer software programs to help, there were no emails, and there were no spreadsheets. Everything was written and manually filed, […]
What Is eSourcing in Supply Chain Management? If you work in procurement or the purchasing department, you’re already aware of how it works. However, it’s the rest of the organization that might not fully understand the process. When you think about the supply chain, you’re thinking about the entire process from start to […]
What Is Strategic Supplier Management? Perhaps one of the toughest tasks of all in the entire supply chain and procurement process is mitigating the human factor and evaluating the relationships you have with your suppliers and strategic partners. Supplier management is not talked about nearly enough as other procurement processes or management, yet it […]
Supplier Engagement Surveys Made Simple A simple way to increase supplier engagement is to utilize your RFI tool. Most organizations list supplier engagement as a top goal. Motivated suppliers help your bottom line and organizational efficiency. If it is a headache to do business with your company, many suppliers will look for other business partners. […]