The Procurement Framework blog at LHTS

Understanding Operative Capital: A Guide for Operative and Tactical Buyers

As an operative or tactical buyer, your role isn’t just about finding the best suppliers or negotiating prices—it’s also about managing a critical financial aspect of procurement: operative capital. This blog post unpacks...

EDI in Different Industries: Applications, Benefits, and Best Practices for Professional Procurement Departments

Electronic Data Interchange (EDI) is one of many cornerstones of efficient procurement operations in various industries. EDI enables the seamless, computer-to-computer exchange of business documents between partners, providing a standardized format for...

Supplier scorecard – best practice.

Supplier performance is critical to the success of any procurement organization. In order to ensure that suppliers are meeting expectations and delivering the highest level of service possible, many organizations use supplier...

Buyers introduction to shipping documents

When shipping products internationally, there are several documents that are required to ensure a smooth and hassle-free delivery. These documents vary depending on the destination country, the type of goods being shipped,...

What buyers need to know about accounts payable

Accounts payable (often referred to as A/P) is a critical part of any business. It is the process of tracking and managing the payments that a company owes to its suppliers and...

Hedging a purchase order can be a useful tool

Hedging a purchase order can be a useful tool for companies to manage their financial risks. Essentially, hedging involves taking an offsetting position to protect against potential losses from price fluctuations in...

From gross demand to net demand

Enterprise Resource Planning (ERP) systems are an essential tool for modern businesses, providing a comprehensive platform for managing a wide range of functions, from financials and human resources to inventory management and production...

Drop Shipment for Buyers: Streamlining Logistics

Optimizing supply chains are crucial for businesses to stay competitive. One innovative solution that has gained popularity among professional buyers is drop shipment. This text aims to provide valuable insights into drop...

EORI - Economic Operator Registration and Identification

Economic Operator Registration and Identification (EORI)

In today’s interconnected global marketplace, international trade has become an integral part of many businesses. However, navigating the complexities of cross-border transactions can be challenging, especially when it comes to customs procedures....

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....