Archive for October, 2017

Incorporating Value-Driven Procurement Into Negotiations

I’ve written extensively about the concept of “value” in procurement.  A couple must-read items include “What Is Best Value Procurement?” and “How Sales Pricing Drives Procurement Pressure.” A simplified variation of my definition of procurement value is “how much quantifiable monetary benefit your organization receives from purchasing something.” In procurement, we often use the concept of value to compare supplier…

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The Supply Chain Talent Crunch: We’re Still Talking About It 10 Years Later, Eh?

I had to LOL today when I read Spend Matters’ interview with ISM’s chief content and engagement officer, M.L. Peck.  One excerpt of the interview stood out to me because it ventured into the topic of the “supply chain talent crunch.” In this excerpt, Spend Matters’ wrote “We always hear about the mass exodus of supply chain professionals that’s going to come when…

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The Internal Procurement Challenge In A Hot Economy

In yesterday’s PurchTips, I wrote about three procurement challenges in a hot economy.  These three particular challenges were all externally-focused:  supply availability, supplier service and quality, and upward price pressure. But there are internal challenges in this environment, too. The biggest internal challenge is acquiring and retaining procurement talent. When an economy is hot – as evidenced by the uber-low…

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E-Sourcing: Finding The Right Solution for Small & Medium-Sized Businesses

Special thanks to Source One Management Services for this guest post When it comes to running competitive events and soliciting suppliers, electronic sourcing (e-sourcing) tools can be a procurement professional’s best friend. With so many e-sourcing tools on the market, selecting the right tool can be a challenge and requires a firm definition of what your company is looking to get out…

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