How AI Is Transforming Negotiation and Contracting (Step 6) in Strategic Sourcing

Step 6 of the standard sourcing process—sending RFQs, negotiating terms, and contracting—can be radically enhanced through AI-powered chatbots and analytics platforms. Below, we explore key insights from a pioneering study on generative AI...

Bid evaluation models

Introduction Preparing a Request for Quotation (RFQ) and its evaluation approach is a pivotal step in the sourcing process. The way buyers evaluate supplier offers (Step 5 of the sourcing process) can...

Price model in procurement

In procurement, what you buy is only half the story. How you pay for it, the price model shape cost, value, supplier behavior, and risk. Whether you’re sourcing cleaning services, software development, or...

Guide to Clear and Persuasive Procurement Report Writing

Understanding Your Audience and Purpose Effective persuasive procurement report writing begin with a deep understanding of the audience and the report’s objective. An internal procurement or sourcing report might be read by...

Keeping Procurement e-Auctions Simple

Introduction This blog explores Linus Boman’s insights on auction structures, cost models, and best practices for running effective and credible e-auctions while keeping Procurement e-Auctions simple. Additionally, for procurement professionals looking to establish their...

Cost out opportunities can take many forms

Cost out. What is good today is not enough tomorrow….

Embarking on a career in procurement offers a dynamic landscape filled with opportunities to drive significant cost savings within the supply chain. Building a robust pipeline of cost out ideas is essential...

Productivity improvements in procurement

Understanding Productivity in Procurement: A Guide for Professional Buyers

As a professional buyer, you’ve likely encountered the term in various contexts. But what does it truly mean, especially in the realm of procurement? How can you gauge and enhance your suppliers’...

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...

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....

Category: Tactical procurement