Four-Eye Principle in Procurement: How Buyers Reduce Approval Risk
In this blog post, we will discuss how The Four-Eye principle enhance contract approval as well as the importance of signatories and power of attorney.
Author: Fredrik Axelsson
Innovation in Procurement: How Leaders Turn Supplier Ideas into Business Value
Innovation in Procurement: As a senior procurement director, I have seen firsthand the role that innovation can play in driving success in the organization.
Supplier Responsibility Transfer: How Operative Buyers Take Over a New Supplier Range Without Losing Control
Taking over a new commodity, supplier range, or group of purchase parts can look simple from the outside. The responsibility is moved from one buyer to another, contact names are updated in...
How should a buyer collaborate with suppliers to create value — and how should that value be shared fairly?
Supplier collaboration sounds simple in theory. Most buyers agree that better cooperation with suppliers can reduce cost, improve quality, increase innovation, and make the supply chain more resilient. The real problem appears...
Negotiation Tips for Buyers: How to Use Bracketing and Small Price Steps
Many buyers enter supplier negotiations with a clear target but lose control once the supplier starts moving the discussion. A supplier may anchor high, reduce the price in large steps, or push...
Non-Disclosure Agreement for Buyers: When to Use an NDA in Procurement
In Procurement, confidential information is often shared before a supplier relationship is fully established. A buyer may need to send drawings, specifications, forecasts, product ideas, pricing assumptions, technical data, or business plans...
Indemnification Clause in Procurement: How Buyers Manage Supplier-Created Risk
A buyer may believe that risk belongs to the supplier because the supplier created the product, delivered the service, selected the technology, or used the subcontractor. But the situation is not always...
Purchase Order Acknowledgment: How Buyers Prevent Order Mistakes and Delivery Problems
In operative procurement, a buyer may send a purchase order and believe the order is under control. But until the supplier has acknowledged the order, there is still uncertainty. These questions matter...
No Gifts Allowed in Procurement: How Buyers Avoid Supplier Influence and Conflicts of Interest
In the 1990s, I was a procurement executive. Back then, it was common for suppliers to provide gifts. now we shift towards ethical standards. No gifts allowed!