Category: 1_Procurement Insights

Introduction The integration of Artificial Intelligence (AI) and automation in procurement is revolutionizing the way businesses manage their supply chains. As companies strive to enhance efficiency, reduce costs, and improve decision-making, AI-driven solutions and automation tools are becoming indispensable. This essay explores the impact of AI and automation in procurement, their benefits, challenges, and future […]

Some of us avoid negotiation, some fear negotiation because they equate it with conflict. They consider it as a clash of the wills, they see it as a fight to the finish, where the biggest bully wins all the marbles. To them, negotiation is confrontation, and they hate confrontation. But in fact, negotiation is anything but […]

China accounting for more than 30% of all global manufacturing share. Before starting to work with Chinese supplier it is most important to ensure that they are legitimate and will be able to produce and supply what we order? Following three basic steps will help us greatly to verify a Chinese supplier. Step 1 – […]

How to select the correct contract type that is most suitable for our requirement? Selecting correct contact form for a specific purchase agreement depends on various factors like availability and accuracy of pricing data, relative strength of buyer and seller and perceived risk and market competition. Most of the contracts may be categorized either Fixed […]

Supply Market Intelligence include information related to Changes in Supply and Demand and Trends, Supply Market size, utilization, expected expansions/contractions, level of competition, Technological changes, Innovations, geo-political changes in supply market etc. How supply market intelligence influence Procurement success?

Cost Saving is reduction in cost that has tangible results. Direct Cost Saving such as lower prices paid and indirect cost savings like improved efficiency and productivity. Cost avoidance is preventing or reduce suppliers price increase.When suppliers actual cost increase, price increase are likely. One way to prevent or minimize such price increase is to […]