Senior buyer considering how to use Game Theory in Procurement

Game Theory in Procurement – relevant for a buyer.

Welcome to the fascinating world of procurement, a domain where strategy, negotiation, and decision-making converge. As a procurement executive, I find the application of game theory in procurement particularly enthralling. It’s like...

a buyer handing over a supplier contract termination

Supplier contract termination – key learnings

Supplier contract termination is a critical process that requires a structured approach to mitigate legal risks and uphold professional relationships. A supplier contract might be terminated for various reasons, including but not...

Assessing financial health of a new supplier

As a professional buyer, assessing financial health of a new supplier is crucial to ensure stable and reliable supply chains. This evaluation typically involves analyzing the Balance Sheet (B/S) and Profit and...

buyer in training learning about Orgalim general terms in a professional office setting

Orgalim General Terms – introduction for buyers

Alright, everyone, let’s dive into Orgalim and the general terms they offer! Introduction to Orgalim What is Orgalim? Orgalim is a major European association representing the technology industries. It covers sectors like...

buyers analysing a full material declaration

What a buyer needs to know about material declaration.

In global manufacturing and trade, material declaration (MD) have become a pivotal aspect of procurement and supply chain management. Buyers in the early stages of their careers, will get a first introduction...

A team of experts working on a Should Cost Analysis

Should Cost Analysis Support Effective Supplier Negotiations

One powerful approach, that has been around for many years, is Should Cost analysis. This method not only aids in predicting the price a supplier should meet but also provides insights into...

Direct and indirect procurement explained

Direct and indirect procurement are crucial aspects of an organization’s purchasing activities, each playing a distinct role in the business’s operations and strategic goals. Understanding the differences between them is essential for...

Sustainable Procurement. Buy Local, Shop Small: A Big, Global Impact!

The United Nations Sustainable Development Goals (SDGs) are 17 goals, covering every triple bottom line (people, planet, prosperity) aspect of sustainability and help organizations drive Sustainable procurement. These Global Goals are broken...

Two buyer summarizing Cost Reduction in Procurement from their lastest sourcing event

Cost Reduction in Procurement explained

Cost reduction in procurement is not just about trimming expenses—it’s about adding value and bolstering the company’s financial health. As a vital Key Performance Indicator (KPI), cost reduction can be nuanced into...

A businesswoman explaining risk management to her colleague

Explaining risk management in procurement

This blogpost is explaining risk management and provides examples of risks a procurement professional may meet when managing a Supply Chain and the suppliers involved. Explaining risk management – definition Risk management...

Category: Tactical procurement