Purchasing & Procurement: Top 5 Cost-Effective Tips

cost effective procurement

Handling procurement for different levels of a company may be complex, especially when you’re dealing with variable budgets and varying requests across the board. To help you keep on top of prices, we’ve compiled a list of our top 5 cost-effective tips on purchasing and procurement right here in this article. Photo by Amy Hirschi […]

Importance Of Procurement Strategies For Aviation Industry

importance of procurement strategy

In a dynamic and turbulent world and a time when global market competitiveness is expanding, an effective procurement process for enterprises in the aerospace industry is becoming more vital as well as difficult to attain. The sheer complexity of many global supply networks and the tendency to outsource to other countries expose supply chains as […]

What’s An E-Procurement Service Provider?

procurement service provider

Most procurement teams are currently fighting to keep up with rising market volatility and maintain a competitive advantage. However, the majority of businesses are still utilizing older, legacy ERP systems, which are falling behind the competition. On the other hand, e-procurement service providers on the market help companies across various industries meet their policy requirements, […]

5 Most Common Procurement Mistakes & Ways to Avoid Them

5 Most Common Procurement Mistakes & Ways to Avoid Them

Common procurement mistakes can quickly escalate into procurement nightmares. Operating with an ineffective system will result in too many joint procurement and purchase issues. Fortunately, the most typical procurement mistakes have clear and simple fixes. We’ve listed five of those procurement mistakes in this article and shown you how to avoid them. Photo by Kenny […]

AI & Procurement Performance: The Connection

AI & Procurement Performance

Artificial intelligence is a proper performance driver that is already being employed in a variety of businesses and industries, but it still has a lot of room for growth. As we move forward, the potential for AI technologies is becoming clearer in procurement, and it is affecting every cycle from information processing to service quality. […]

Why Technology is Vital For Procurement?

why procurement needs technology

Regardless of the size of the company, procurement is a critical component. The procurement process involves coordinating vendors, documents, and finances, among other things. The entire procedure may appear simple, but it is not. It’s a complicated procedure with plenty of opportunities for inefficiencies to arise. Technology and automation can make handling the purchase process […]

How to Choose an eProcurement Service Provider?

How to Choose an eProcurement Service Provider?

Procurement has become such an essential part of every business that it requires its own team and strategies. Inevitably, many SMEs are trying to keep up with the market’s ever-changing expectations and dynamics. In addition, they turn to independent, third-party companies that are known as procurement service providers (PSP). You can hire these companies in […]

Contract Negotiation in eProcurement: Essentials to Consider

Contract Negotiation in eProcurement: Essentials to Consider

When it comes to contract negotiations, the most challenging element may be ignoring what you’ve been taught about standard negotiation strategies, tactics, and methods. Contract negotiations should focus on sealing a fair, reasonable, and beneficial deal for both parties, not on who is smarter. This is the definition of a good contract negotiation process, and […]

E-procurement in the Textile Industry: How it Can Help

Although it is a best practice to build thousands of supplier partnerships, how do businesses plan to manage these ties? Furthermore, how can they inspect the activities of every raw materials supplier with whom they do business?