OECD due diligence for responsible business conduct

Understanding OECD Guidelines for Responsible Sourcing: A Guide for Buyers

In a global marketplace, responsible sourcing is more than just a “nice-to-have”; it’s essential. As a buyer in training, you might hear about the importance of ethical procurement, sustainability, and compliance, but...

transforming a technical specification to checklist

How ChatGPT Can Transform Technical Specifications into Easy-to-Use Checklists to Enhance Buyer Productivity

In the fast-paced world of procurement, efficiency is critical. Buyers are constantly juggling tasks, from managing relationships with suppliers to sending out requests for quotations (RFQs) and ensuring that products meet specifications....

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...

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...

Procurement changed its sustainability requirements

Over the last few years, the procurement departments have undergone significant changes in terms of sustainability requirements for suppliers. Companies are now looking beyond traditional supplier criteria, such as cost and quality,...

Vendor Managed Inventory and Lead-time

In B2B procurement, managing lead time effectively is crucial for ensuring seamless operations, especially when demand is dynamic and supply chain interruptions can have significant consequences. Lead time refers to the time...

Category: Tactical procurement