For suppliers that consistently perform to set expectations, you need to put strategies in place to maintain their continued involvement with the organization; most often requiring one-on-one meetings with management personnel from both parties involved.

Reverse auctions are a great tool for buyers to save money, but many suppliers tend to be apprehensive about participating in them. Suppliers do not like participating in reverse auctions because they are typically viewed as a race to the bottom in terms...

How do you achieve success with strategic sourcing? What do you need to do to be successful with strategic cost reduction? This article outlines some of the best practices on how to effectively perform strategic sourcing, so you can achieve your goal of l...

It is up to the buyers to enforce practices in their sourcing process that build trust with suppliers. These practices assume greater importance when companies resort to eProcurement.

The Buyer uses the RFP to state the requirements of the goods or service being procured, the terms and conditions of the engagement, the vendor evaluation criteria, and most importantly the bidding sheet. This bid sheet outlines the quantum of goods or se...

Auctions should immaculately be the final step in the negotiation process. Negotiating with suppliers post the auction is a big no-no. Also, qualifying suppliers post the auction has its drawbacks too. Assume the smallest-ranked supplier is disqualified p...

The process of Sourcing involves looking for new suppliers, assessing their capability, comparing their products and their offerings with the demand or with the incumbent supplier’s offering, uniting with all suppliers to receive marketable bids, research...

The process of Sourcing involves finding new suppliers, evaluating their capability, comparing their products and offerings with the requirement or with the incumbent supplier’s offering,

Procurement teams often face a scenario where they have to compare bids from suppliers that aren’t exactly similar. What do we mean by that?

Auctions should ideally be the final step in the negotiation process. Negotiating with suppliers post the auction is a big no-no. Similarly, qualifying suppliers post the auction has its demerits too.

In the last couple of months, we have been successful in signing up new customers across 4 countries. These companies are from varied industries - Financial Services, CPG, Auto, and Energy & Utilities.