Insights and strategies for effective sourcing, contract, supplier, and savings management in procurement
Are You Working With Compliant Suppliers? Every company is obliged to comply with laws and regulations. The amount of compliance varies by country, industry and size of company, with some industries such as banking more highly regulated than others. An example of a law is the Data Protection Act 2018 that every company must comply with. To become […]
What are the Key Dates In Supplier Contracts? Too often supplier contracts are signed and then filed away in either a desk drawer or shared drive with little or no management of the contract, except when there is an issue. The supplier delivers the goods or service and the invoices are paid until eventually a new contract is negotiated […]
What are the Steps in eSourcing? One thing that we all do in our daily lives that we also do frequently in business is to make purchases. It’s something that we learn to do when we’re young and then generally follow the same simple process throughout our lives. The amount of time and effort we put […]
How To Avoid Missing A Contract Notice Period One mistake that many of us make is to not to give the correct notice on a supplier contract. This can often result in either a contract automatically rolling over or being put on expensive out-of-contract rates. The cost of forgetting to give notice varies depending on the […]
How To Track Procurement Savings Just as every company tracks the revenue generated by their sales and marketing departments so they can also track the procurement savings delivered by their finance and procurement departments. Although any cost savings delivered may look to be significantly less than the sales revenues generated over a similar period, they can have an equally powerful impact […]
Do You Measure Supplier Performance? Your company has spent a lot of time and effort to run a competitive tender process, negotiated a good deal, signed the contract and implemented the new supplier. For some this is where the idea of the procurement process stops and the supplier is just left to get on and deliver the goods […]