Archive for February, 2017

It’s 5 O’Clock. Do You Know Where Your Cost Savings Are?

In procurement, we celebrate the achievement of cost savings.  Like when we conduct strategic sourcing or engage in a negotiation and end up paying a lower price for a product or service than we did last year. Of course, that’s great.  And, instinctively, we know that our cost savings helps our organization. But, it’s not enough to know that cost savings…

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Standard Terms and Conditions in Your RFP

I member recently asked me:  “When including your standard terms and conditions in your RFP, how flexible should you be with considering supplier exceptions to those terms and conditions?” Well, my answer to this question is similar to my answer to many procurement questions I am asked:  “It depends.” It depends on the market. If there are a large number…

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“I’m Here To Learn”

“I’m here to learn.” That’s a phrase that I’ve used to guide many aspects of my life.  And I credit it for helping me achieve high levels of success. When something I’m working on doesn’t go as well as I had hoped, I say – either to myself or sometimes out loud – “I’m here to learn.”  This, to me,…

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Procurement Documents: The Proper Sequence & Common Headaches

There are many procurement documents that cross a buyer’s (physical or virtual) desk.  The sequence in which these documents are exchanged is key in ensuring an efficient transaction for both the buying and selling organizations. Here is the proper sequence for the exchange of these documents: Request for Quote/Proposal (from buyer to seller) Quote/Proposal (from seller to buyer) Purchase Order…

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