When it comes to legally binding agreement, the devil is often in the details. This is why it is important for one to understand the contractual terms, given that it is these terms that actually spell out the nature of the agreement. Do we need a fresh contract each time? Since drawing contracts can be …
Contractual terms are important and this becomes obvious whenever you define a contract. What is a contract? A contract is basically a legally binding agreement. The question is what exactly have you agreed to? In purchasing and supplies the agreement will for the most part depend on stakeholders’ needs, which is why you need to …
Successful negotiation means preparation and if, in fact, one succeeds in negotiation having had no prior plan, then that is an accidental result. That which cannot be duplicated with ease. What is negotiation? Negotiation is a discussion aimed at reaching an agreement. It can be looked at as a process through which parties move from …
4 factors for successful negotiations in business Read More »
Negotiation in sourcing process is important and the reason becomes so obvious once you realize that negotiation process presents an opportunity to actually get what you want. WHAT IS NEGOTIATION IN PROCUREMENT? Negotiation is a basic means of getting what you want from others. It’s a back-and-forth communication designed to reach an agreement when you …
Here is the role of negotiation in sourcing process Read More »
Ways to Increase your Profits through Value Chain or through any other way is one of those questions that you must have an answer to as a business person. Otherwise what you have is not business. In this post we are concerned with value chain specifically, what value chain consist of and how value chain …
Amazingly Easy Ways to Increase Your Profits through Value Chain Read More »
Purchasing and supply management is not an entirely new concept to most people. Take a look at the first part, purchasing. We all undertake purchasing, be it data for your phone, food, clothes etc. purchasing and supply management is one of those things you know hence you do not give it much thought. In business …
Purchasing and supply management important difference you must know Read More »
Procurement activities have led to the evolution of procurement from traditional purchasing and supply to what is currently the procurement profession. It has been mentioned that purchasing is reactive rather than proactive, transactional rather than relational, tactical instead of strategic, all of which are based on the traditional way purchasing and supply was looked, and …
Key procurement activities you must know for business growth Read More »
Advantages of tendering make it such that most organizations, as they grow, find the process appealing since it helps with the negotiations and transparency, if done properly. Say your organization needs new laptops, you can send someone to go and shop for such or you can invite suppliers to make you offers regarding such. The …
8 important advantages of tendering you must know Read More »
Importance of supplier evaluation becomes apparent if you are to ensure that your supply chain is effective. Think of it this way, your organization exists in a supply network in which there exist multiple tiers of suppliers. Wastage, hidden cost drivers or risks not taken care of, in one level of the network will trickle …
Importance of SUPPLIER EVALUATION in business growth Read More »
A stable supply chain is the basic element of every successful business. An effective evaluation of the suppliers brings about a close working relationship with your vendors, which will in return, enhance a streamlined production process, guaranteed quality products and you will minimize or eliminate supply chain hidden costs. Again it just comes down to …
