Coronavirus: What Can It Teach Us About Procurement?
The COVID-19 pandemic has affected the way employees worldwide work. With social distancing measures including working from home in place, businesses had to adapt to the new reality of working remotely. Working from home (WFH) prompted businesses to heavily rely on technology further underscoring the need for digitalisation across industries and departments, procurement teams included….
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What Is Guided Buying and Why Does It Matter?
So you’ve met the right supplier and sat through price negotiation meetings which resulted in a contract pricing agreement. How do you translate your contract pricing efforts into actions that bring better savings, compliance and drive the right policies? The answer is through guided buying. What is guided buying? Guided buying is one of the…
Procurement Documents 101
The two most basic entities involved in the procurement process is a buyer, the procurement department of a business and a seller, or a vendor. Throughout the procurement process, a lot of communication happens between these two parties all the way from source to pay, as well as internal parties namely users and approvers. To…
Getting to The Core of Your Vendor Management Challenges
A key external party that plays a big factor in the success of procurement is vendors. Procurement teams may be directing their personal attention to other activities in the procurement process such as requisition and payment but leave vendor management in the back burner. Effective supplier collaboration has the ability to derive long term value…
What Is Procurement and Why Does It Matter?
Does your company have its own procurement team? If the answer is no then they might be wasting a lot of time and resources. Procurement can be a confusing topic for many businesses. Hence, they they tend to avoid the whole concept of it, but in fact, be a great convenience to companies. So, the…
Top Procurement Time-Wasters You Need to Overcome
More and more businesses are looking into ways of working more efficiently. The need to discover working methods that are able to streamline everyday tasks are inherent towards any productive organization. One of the first steps towards better workplace efficiency is by having an activity log. Through jotting down the duration it takes for you…