Understanding WHAT IS A GUARANTEE Where a subsidiary company is bidding for a contract but it has a poor credit rating, the procurement organization could obtain a guarantee from the parent company to reduce risks. But what is a guarantee? Before we answer the what is a guarantee question, look at this example; Alex and …
ACCEPTANCE RULES to help in Managing Contractual Risk As a buyer you haven’t been paying attention to contract delivery since the contract was created a year ago. Your supplier has not been delivering what is required as per the standards you agreed on, and yet your procurement department has been paying its monthly invoices for …
SUPPLY AND DEMAND IN REAL ESTATE Most people fantasize with the idea of owning property in the real estate market. The idea of getting passive income from rental property or just forgetting the whole pay rent each month seem to be quite appealing. Of course what most of these people tend to ignore are effects …
Making money in real estate When one speaks of real estate and making money from it most people tend to sum it up to landlords, brokers and sales people. In reality real estate industry is way bigger than that and has more players to it. Making money in real estate, assuming you are not the …
BUSINESS CASE: Selling your idea to your boss If you are one of those employees who tend to speak their mind then you have encountered this situation. You identify a problem in the business system, or at least think you have, you walk into your boss’s office, lay down the idea and the boss just …
Buy sell agreements are common in procurement routines. These sorts of activities do, in fact, define the procurement process. The issue is ensuring that the sale of goods contract one has got him/herself in is effective since these contracts, whether they are sale contract or agreement to sell, determine how ownership is to pass from …
In buy and sell agreement what one pays for or what one is really selling, when dealing with goods is title. Whenever you buy or sell items, e.g. a phone or complicated piece of machinery, what you are doing, as far commercial law or sale of goods contracts to be specific, is concerned is transferring …
PROCUREMENT PROCESS AND ICT From a broader point of view development in information communication technology (ICT) has radically changed the manner in which people do business. Things like speed of communication and information exchange mean that you can offer real-time answers to customer inquiries, process transactions, convert potentials into paying clients etc. The procurement process …
10 Cs’ of supplier appraisal As a procurement manager or a person holding just about any significant decision making position in procurement, you have to be on top of your game when it comes to handling all matters relating to the procurement process. The issue of supplier appraisal is very important in procurement procedure and …
CONTRACT MANAGEMENT | ADVANTAGES AND DISADVANTAGES Contract management is an on-going process throughout the contract life. Things don’t just take off positively in contracts after the parties have signed the dotted lines. Think about it, what if circumstances change in the contract? What if supplier performance falls short? How do you know that contract terms …
