Connection Between Logistics and Procurement illustrated by two containers

The Crucial Connection Between Logistics and Procurement

Let us explore the Crucial Connection Between Logistics and Procurement In the world of business, the seamless flow of goods and services from suppliers to customers is a critical aspect of success....

Aligning Stakeholders in e-Auctions: One Key to Effective Supplier Negotiation

Aligning Stakeholders in E-Auctions: One Key to Effective Supplier Negotiation e-Auctions have emerged as an efficient and transparent way to negotiate with suppliers. While this innovation has simplified many aspects of procurement,...

Inviting suppliers to e-Auction – 8 keys

e-Auction methods on digital platforms have transformed traditional negotiations, offering efficiency, transparency, and competitive bidding. However, suppliers new to this method may need clear guidance and assurance to participate confidently. As a...

Strengthening Supplier Collaboration

Strengthening Supplier Collaboration, and leveraging benefits, are often discussed – but how to distribute value created? Unlocking Opportunities in a specific buyer/supplier relationship Tactical buyers play a critical role in shaping supplier relationships....

Establish the capability to run procurement e-Auction

What does it take setting up the capability to run procurement e-Auctions? Well, it requires careful planning and alignment with certain key areas.

Pre-payment and Advance Payment Guarantee.

The Dilemma of Pre-payment. At the heart of many business transactions is a simple question: should a buyer pre-pay for goods or services? The obvious risk for buyers is that, after paying,...

Comparison between a Letter of Credit (LC) and an Advance Payment Guarantee (APG)

The Letter of Credit (LC) and APG

Both the Letter of Credit (LC) and the Advance Payment Guarantee (APG) are financial instruments used in international trade and other transactions to ensure trust and security between the buyer and the seller. However,...

The Open Account payment method

The Open Account payment method is one of the most straightforward and commonly used methods in international trade. It is more flexible and less stringent than Letters of Credit (LC), Advance Payment...

Documentary Collection as payment terms

“Documentary Collection” (often simply referred to as “document collection”) is a common method used in international trade where the bank acts as an intermediary without providing any guarantee of payment, which differentiates...

Understanding Non-Conformity Reports (NCR) in Procurement

A Non-Conformity Report, often abbreviated as NCR, is a document used in procurement and quality management to report any deviation from the agreed specifications, standards, or requirements in the products or services...