Four-Eye Principle in Procurement: How Buyers Reduce Approval Risk
In this blog post, we will discuss how The Four-Eye principle enhance contract approval as well as the importance of signatories and power of attorney.
Search results for: digital
Innovation in Procurement: How Leaders Turn Supplier Ideas into Business Value
Innovation in Procurement: As a senior procurement director, I have seen firsthand the role that innovation can play in driving success in the organization.
Indemnification Clause in Procurement: How Buyers Manage Supplier-Created Risk
A buyer may believe that risk belongs to the supplier because the supplier created the product, delivered the service, selected the technology, or used the subcontractor. But the situation is not always...
Supplier Insurance in Contracts: How Buyers Reduce Commercial Risk Before Something Goes Wrong
A supplier can have a good price, a strong technical offer, and a signed contract. But what happens if the supplier causes property damage, delivers a defective product, makes a professional error,...
Supplier Onboarding for Operative Buyers: How to Set Expectations Before Problems Start
Most operative buyers know the feeling of working with a “good” supplier and a “bad” supplier. Some suppliers respond quickly, confirm orders on time, update delivery dates, and understand what the buyer...
E-Procurement in Indirect Procurement: How Portals Turn Contracts into Efficient Buying
Collect the benefits of E-procurement, which allows organizations to purchase goods and services through a dedicated web shop.
Service Level Agreement Explained: Why Buyers Should Include the SLA in the RFQ and Contract
A Service Level Agreement (SLA) is a document that outlines the agreed-upon level of service between a service provider and its customers.
Short Lead-Times in Procurement: How Buyers Reduce Waiting Time Without Increasing Supply Risk
hort lead-times in procurement can create major advantages. They can reduce inventory, improve cash flow, increase responsiveness, and help the organization react faster to customer demand. But short lead-times can also become...
Procurement Titles: How to Choose the Right Roles for a Procurement Organization
Procurement titles can easily become confusing. One company may use the title Buyer, another may use Purchasing Agent, and a third may use Procurement Specialist for almost the same responsibility. At the same time, titles such...