TYPE OF PURCHASE AND YOUR BUSINESS Understanding how buyers or consumers behave is key to the success of your business. This is how you get to increase your sales and that translates to profits. You need to know their psychology, sociological make up, social anthropology, even the economics of its all. So business is all …
DISTRIBUTIVE NEGOTIATION Distributive Negotiation occurs in the form of somebody winning and somebody losing. It’s a zero sum game. The key objective in distributive negotiation is to maximize our party’s share of value from a particular deal – regardless of the impact on future relationship with the other party. It is thus a ‘transactional’ (rather …
HOW TO ACHIEVE YOUR GOALS Goals give us a purpose and purpose is what makes life worthwhile, assuming you are willing to give purpose the same definition as “will”. To quote Nietzsche “he who can live with any why can live with any how” because the alternative is drifting into hopelessness and extreme end nihilism …
WHAT IS A SALE OF GOODS CONTRACT? Introduction When you are in business you are providing, Goods, services or both. If you deal in goods then the agreement between you and the parties you are dealing with will be summarized by a contract, specifically sale of goods contracts. The question then, I suppose, is WHAT …
HOW TO HANDLE CONFLICT IN PURCHASING AND SUPPLY Knowing what causes conflict in your purchasing and supply is one thing, solving it is another and by focusing on the attention of the parties, there are two dimensions to conflict handling, that is: Knowing what causes conflict in your purchasing and supply is one thing, solving …
When to use NEGOTIATION OR COMPETITIVE BIDDING? At some point in your procurement carrier you are faced with a choice between negotiation or competitive bidding. This is assuming that the company policy, if you are employed, isn’t clear about this sort of thing. Practically all you are doing is making a choice about the method …
Introduction An organization’s decision to focus on sustainability could be as a result of many factors. It could be because of growing awareness of the negative impact of international supply chain May be growing political, public and activist pressure for greater corporate responsibility and accountability It could also be as a result of the growing …
SUSTAINABILITY DRIVERS AND ENABLERS IN PROCUREMENT? Read More »
Relationships that companies have with the parties the deal with, say suppliers in this case, are often summarized by contracts Success in managing contracts will therefore mean: Increase in revenue Decrease in cost Contract management in procurement is an ongoing process that ensures suppliers and buyers stick to their agreed contractual obligations as well as …
Sustainability means ensuring that actions currently taken do not limit or jeopardize plans or quality of life in future. But what has this got to do with procurement? The reality is the question of sustainability in procurement presents itself in various ways such as: Responsible procurement Ethical procurement Or even “Green” procurement Sustainable procurement, …
In the course of negotiation a lot of statements are made, these statements are known as representation and if false they are known as misrepresentations. Those that turn out to be part of that contract become its terms. Terms are the rights and obligations of each party in the contract. The terms may be EXPRESS, …
