3 types of purchase in procurement you will be dealing with as a procurement professional are straight re-buy, modified re-buy and new buy Remember not every purchase you undertake will follow the steps you see in procurement cycle or even require detailed justification from a business case. For some purchases, detailed analysis will have already …
3 types of purchase in procurement you must know Read More »
Your business won’t make much of an economic sense if you are not making profit. If you can find simple ways to improve your pricing strategy, you can increase profits. Price is often considered to be the sum of money which must be expended to fulfil a wish or need to acquire a product or …
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 …
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 …
WHAT ARE BUSINESS NEEDS? Business needs and operational or functional objectives All businesses have needs and by business needs I mean the gap between the current state of the business and its goals, that is, whatever the business aims to achieve. If we look at business requirements from a functional or operational perspective then we …
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 …
