Non Disclosure Agreement (NDA)- part of the sourcing process

The content of a NDA and the structure of a non disclosure agreement (NDA) typically follows a standard format. A non disclosure agreement is a legally binding contract that establishes a confidential...

Choice of law in purchasing contract

When buyers are creating contracts, one of the most important aspects to consider is the choice of law. The Choice of law in purchasing contract clause determines which jurisdiction’s laws will govern...

Interest Based Negotiation: your first step as a buyer in training.

Interest Based Negotiation, also known as integrative or principled negotiation, represents a paradigm shift in the approach to negotiations. Originating from the Harvard Negotiation Project in the 1980s, it has significantly influenced...

Procurement courses – online or onsite?

Procurement is a critical function in every organization, ensuring that goods and services are acquired at the best possible prices, delivered on time, and meet the organization’s needs. The importance of procurement...

Supplier portal on company homepage

A company’s homepage is often the first impression that a potential supplier will have of the organization. As such, it is essential that companies use this opportunity to present themselves in the...

Procurement ROI – showing the value provided by procurement

Procurement ROI (Return on Investment) is a critical metric that measures the value that the procurement department delivers to the organization. In this blog post, we will explore what procurement ROI is,...

Understanding Supplier Financing Costs: How WACC Impacts Pricing and Payment Terms

In procurement, we often focus on securing the best price and favorable payment terms from suppliers. However, one factor that’s often overlooked is the supplier’s cost of financing. Suppliers face costs associated...

A buyer writing a Service description to a RFQ

RFQ and Service description are a strong pair.

A Request for Quotation (RFQ) is a critical document used by companies to solicit quotes from potential suppliers or vendors for the procurement of goods and services. One of the most important...

Service Description and Statement of Work.

When it comes to defining the scope of work for a project or service, two important documents are often used: Service Description and Statement of Work (SOW). While they share some similarities,...

Content in a Statement of Work

A Statement of Work (SOW) is a document that outlines the scope of work, tasks, deliverables, and timelines required to complete a project. It is a critical document used in the procurement...