- Woman-owned business enterprises
There has been a lot of buzz about “cognitive procurement,” the application of artificial intelligence (AI) to support buying goods and services to free up humans to handle valuable procurement functions that AI cannot manage.
The same advanced technologies that are making procurement smarter, more efficient and more data-driven, can be used to make outsourcing relationships leaner, more profitable and more advantageous.
If your company is like most, it promotes “boilerplate” contracts or at a minimum, pushes for standardized terms, such as the contract length, warranties, a 30-day termination of convenience clause or 90-day payment terms. While this may make your lawyer and CFO happy, Russell Korobkin suggests that using standard contract clauses is a bad idea.
- Supplier Pre-Qualification
- Bid Strategy
- Request for Proposal/Solution/Partner Development
Sustainability is a dominant topic in media, business and social conversations today, and one that communications and corporate responsibility departments in major multinational organizations have been eager to pursue. It makes sense—successful sustainability programs are not only good for our planet and people, but also are proven to drive business value. But what does 'success' look like for procurement teams contributing to organizational programs and results?
Six indicators of a strong sustainable procurement program
Growing economic uncertainty has seen many businesses look to procurement for a means to increase savings and ultimately drive growth. This is especially true in the retail industry where common issues include mounting costs, struggling suppliers, increased competition and expanding supply chains. On top of this, savings must be achieved without affecting the quality of the end product or customer experience.