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 …
Understanding Purchase to pay cycle (P2P CYCLE) Procurement meaning evolves depending on the context one looks at, meaning, eprocurement takes a different shape from the typical procurement procedure involved in calling your suppliers or even using call-off and blanket ordering systems. Global procurement on the other hand will entail other aspects that may not be …
POWER AND INFLUENCE IN COMMERCIAL NEGOTIATION Mastering negotiation skills or the art of negotiation for that matter, means knowing, among other things, whether or not you have the needed power. Remember negotiation definition can be summed up as a process where two parties with differences which they need to resolve are trying to reach agreement …
Interesting Ways Power And Influence Affect Commercial Negotiations Read More »
NATURE OF INSURANCE CONTRACTS Life is full of uncertainty, some of which end up being positive while others tend to be negative. Your business for example could be doing well today and then later in the day a riot breaks out and your assets get looted or engulfed in flames. As a measure against certain …
5 habits of successful entrepreneurs Do you ever wonder how successful entrepreneurs got to where they are? Could it be hard work? Right friends and connections? Or are they just smart? While all these are important they don’t necessarily make a successful entrepreneur. Truth is successful entrepreneurs are so because of habits they’ve calculated. The …
HOW TO GET WORK EXPERIENCE We live in world governed by, among other forces, economic reality. Your choices when it comes to finance will depend of whether there is demand for what you are offering and how much one is willing to pay for it. While some people choose the entrepreneurship option to meet their …
THREE REASONS TO START YOUR BUSINESS NOW So it’s Monday morning, the alarm goes off and after 3 snoozes you force yourself to wake up but not before reminding yourself for the trillionth time how your job sucks and how you will start your own business …except you have never given it a try. This …
KEY TYPES OF DIRECT PROCUREMENTS Resources or inputs that will be directly used in an organization’s primary activities as opposed to its support activities are referred to as direct procurements. Remember primary activities are the activities associated with the making or production of the goods or services the customers are paying for. The key types …
DIRECT AND INDIRECT PROCUREMENTS: WHY THE DIFFERENCE? Direct and indirect procurements the distinction A business that is serious about its undertakings will need to clearly learn about the difference between direct and indirect procurements activities. Direct procurements refers to the procurement of inputs and consumables used in the primary activities of the organization, that is, …
THE ROLE OF PROCUREMENT IN BUSINESS NEEDS Changes in business environment and by extension business requirements mean that the role of procurement in business needs has to be given a fresher look less the organization fail to meet its objectives. Gone are the times when procurement functions were viewed as administrative or clerical whose whole …
