Liquidated damages in procurement contract.

The purpose of, in general, liquidated damages in procurement contract is to increase certainty and avoid the legal costs of determining actual damages later if the contract is breached. But what is...

Critical role in the make or buy decision

Procurement plays a critical role in the make or buy decision process, which involves deciding whether to produce a product or service in-house or to outsource it to a third-party supplier. Procurement...

Technical specification as part of a RFQ.

When putting out a Request for Quotation (RFQ), a Technical Specification might be an essential part of the documentation. It is a document that outlines the technical requirements and specifications of the...

a buyer looking at ECCN for Quoted Products received from an international supplier

ECCN for Quoted Products – important for buyers

Export Control Classification Numbers (ECCNs) play a crucial role in international trade and ensuring compliance with export control regulations. As a buyer, it is essential to request an ECCN from the supplier...

A buyer in this Nordic style office require suppliers to be ISO9001 certified

Why require suppliers to be ISO9001 certified

As a buyer, you are always looking for ways to ensure that the products and services you purchase meet the highest quality standards. One way to do this is by requiring your...

Finding a relevant ISO standard

Standards are established by consensus among experts and lay down precise criteria designed to ensure the reliability, safety, and efficiency of products, services, and systems. They serve as a common language that...

Best Cost Country explained by a professional buyer

Best Cost Country explained to buyers

“Best Cost Country” (BCC) sourcing is a strategy a category manager can chose, focused on identifying and utilizing countries that offer the optimal mix of cost-efficiency, quality, and innovation for procuring specific...

A buyer lacking Business Contingency Planning in Procurement decision

Business Contingency Planning (BCP) in Procurement

To a procurement function, the unexpected is the only constant. Natural disasters, political unrest, pandemics, and economic fluctuations are just a few examples of crises that can disrupt the operations of a...

buyer using Augmented Reality during a Factory Acceptance Test

Augmented Reality in Procurement

In the landscape of procurement and supply chain management, technology continues to push the boundaries of how businesses operate and collaborate. One such technological advancement that promises to transform traditional procurement processes...

Category: Tactical procurement