Achieving supplier transparency in procurement is often challenging, but it’s a crucial step toward ensuring that your supply chain operates ethically and sustainably. In a world where consumers and stakeholders increasingly demand responsible practices, supplier transparency has become paramount. Here’s why it matters and what you can do to achieve it. The Challenge of Supplier […]
When we make more environmentally friendly sourcing choices, we can reduce greenhouse gas emissions and minimize our impact on the environment. In our previous blog post, we discussed the benefits of sourcing locally. Today we’ll take a closer look at one of those biggest benefits—reducing your carbon footprint—a crucial part of sustainable development. It’s become […]
To create a more inclusive and diverse work environment, organizations across various industries are taking measures to remove unconscious bias from their recruitment process. However, many of these same organizations fail to consider the impact that unconscious bias can have on their procurement process. Unconscious bias refers to the attitudes or stereotypes that affect our […]
Procurement compliance plays a crucial role in ensuring that organizations adhere to strict guidelines and regulations while acquiring goods and services. This not only safeguards a company’s reputation but optimizes operations and drives cost savings. But to achieve actual compliance in sourcing and procurement, it is important to take certain steps that go beyond just […]
If you want to streamline your supplier evaluation process, increase supply chain efficiency, and reduce costs, building an ideal supplier scorecard is crucial. The supplier is a third-party vendor that provides goods, materials, and services to your organization. While it seems obvious to choose suppliers that are cost-efficient and easy to work with, rapid technological […]
Procurement Technology Review of EC eSourcing and EC Optimize EC Sourcing Group – A Practitioner’s Perspective by Kumar Kannen at Procural: I am going to dig into the fast-evolving world of sourcing technology from a practitioner’s perspective as part of an on-going series. Most reviews that I have seen are too high level and don’t […]
Could Your eSourcing System Be a Marketing Tool to Attract New Suppliers? Shouldn’t all suppliers be thrilled with the opportunity to do business with your company? Your eSourcing system should be an asset that makes responding to your RFPs a pleasure and not a dreaded chore. If fact, if your system helps suppliers respond quickly […]
The Impact of Limited Options in Procurement Procurement strategy can be a challenge when many of the traditional options are limited. Wouldn’t our job be easy if every product or service had multiple vendors or suppliers ready and willing to compete for your business? I was recently helping a client identify areas where a structured […]
Procurement Software Functionality Checkup With all the demands on time is it any wonder that most procurement professionals have little time to investigate or test the functionality of available procurement software. If you were looking for ways to save time and increase the capability of your procurement team what features and functionality would get you […]
Understanding the Costs and Margins of Your Suppliers Builds Trust Many sourcing professionals focus on their own costs first. I would recommend that understanding the costs and margins of your suppliers will build trust in the negotiation process. Relationships built on trust and transparency will yield higher profits for both parties. I understand that not […]