Commercial agreements often are in the shape of a contract but, what is a contract? Simply put a contract is a legally binding agreement. The law of contract is concerned with four basic questions, which is what you should be asking yourself whenever you are in doubt whether you have a contract or not. These …
Knowing when to walk away from negotiation is important. The only reason to negotiate is to get results we would have otherwise not got, had we not negotiated. Success in this case is therefore measure by our ability to meet our objectives in the negotiation. This may mean using tactics such as, compromising, coercion, manipulations …
Procurement and supply cycle Procurement is all activities required in order to get the product from the supplier to its final destination. It encompasses the purchasing function, incoming inspection, and quality control and assurance, allowing companies to make supplier selection decisions based on total cost of ownership, rather than price. Van Weele (2009) The process …
What has PROCUREMENT got to do with PROFITS? When asked about profits management will often act as though sales are the only solution. Don’t get me wrong sales are important but they aren’t the only solution especially not if we try to increase our revenue without understanding the cost of producing such revenue. In the …
CIPS LEVEL 2 CERTIFICATE IN PROCUREMENT AND SUPPLY OPERATIONS SYLLABUS CIPS Level 2 Certificate in Procurement and Supply Operations syllabus offers guide to this CIPS entry level intended for those who want to specialize in a specific occupation, occupational area or technical role. Certificate in Procurement and Supply Operations will prepare learners for work by …
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PORTERS FIVE FORCES The whole point of competitive strategy is to relate a business, or company for that matter, to its environment. In as much as that environment is going to be broad. Porters five forces show that businesses will always compete and that has nothing to do with coincidence or luck rather the underlying …
QUOTATION TENDERS AND COMMERCIAL AGREEMENTS Commercial agreements start in various ways. Often when initiating dealing with suppliers we tend send inquiries in the form of: Request for quotation Request for information Or even request for proposal. Although at times the supplier may also just send unsolicited proposals or quotations. A standard enquiry …
STRUCTURE CONDUCT PERFORMANCE MODEL YOUR BUSINESS AND SUCCESS When running your business your success will obviously depend on what edge you have against your competitors. This is what is referred to as competitive advantage But how do you position your business to achieve such? The primary determinant of your business performance, according to market based …
