To thrive is present competitive market, organisations are trying their best to catch up with latest Procurement Trends.By embracing the latest procurement trends, organisations and making their procurement […]

MRO is Maintenance, Repair and Operations items, which includes Supplies consumed in the production process but do not either become part of the end product or are not central to the firm’s output. These in […]

Visibility, Transparency & Collaboration – Three Basic Tools to Procurement Cost Savings

Costs Savings is the number one priority of CPOs. Growing pressure for procurement teams to reduce costs is driving […]

We all dream about a sustainable future; a future with human friendly climate; socially responsible humans and people who are conscious about their past, present and future. Everyone has to play his part to […]

Procurement function must consider following 6 points in their decision making to become a successful procurement organization.

Procurement success is measured by what extend procurement function has been […]

It promotes collaboration between manufacturers and suppliers that ensures long-term benefits of both the party.To ensure that quality and inventory needs are fulfilled at optimum cost.It promotes supplier to […]

Why to do Spend Analysis?

Following are the few main reasons for doing spend analysis for our business:

To prepare more detailed and accurate financial and annual reports for our companyTo find […]

Information is most important for making right decisions. Information has to be reliable and available in time. For Sourcing Decisions, source of internal information are companies ERP system. External data […]

Supplier Scorecard is we used to measure suppliers, and to give qualified or certified status to suppliers. Ideally, The best scoring suppliers per commodity group would get more share in the order.

1) […]

According to the American Iron & Steel Institute (AISI), Steel can be categorized into four basic groups based on the chemical compositions:

Carbon Steel | Alloy Steel | Stainless Steel | Tool Steel

Carbon […]

Review, Aggregate and Consolidate Purchase Requirements & DeliveriesReview and Renegotiate existing contracts based Total CostAvoid/Reduce Maverick SpendOptimize Supplier Base, Inventory, Centralized / […]

Defects are common phenomenon in any engineering process. There is some limitation in any process which causes defects. Proper designing and moulding can give a defect free cast, but due to some control […]

Cast iron is a ferrous alloy that is made by re-melting pig iron in a capola furnace until it liquefies. The molten iron is poured into molds or casts to produce casting iron products of the required dimensions. […]

There are two opposite types or schools of negotiation: integrative and distributive.

Distributive Bargaining Basics

It’s a one-time-only occurrence. Except for the deal itself, there is no real benefit i […]

What is Fact Based Negotiation?

Fact-based negotiation is the practice of focusing supplier negotiations on mutually beneficial data on cost structure rather than gamesmanship.

A should cost model is a documented calculation of an estimated price that you create by researching all material costs, labor costs, overhead costs, and profit margins that would apply to an item. Essentially, […]

List of the 7 QC Tools

Cause and Effect DiagramControl ChartPareto ChartCheck SheetHistogramScatter DiagramStratification

Cause and Effect Diagram

Cause and Effect Diagram also known as Fishbone Diagram […]

Ductile cast iron is a type of cast iron that is melted with elements such as magnesium or cerium to cause the formation of free graphite nodules or spherulites. The name of ductile iron means that this form of […]