Creating usable spend data

Procurement teams are under pressure to optimize costs, improve supplier performance, and ensure compliance. Central to meeting these objectives is spend analysis, a systematic approach for evaluating an organization’s historical expenditure data. Equally...

Case: Designing an E-Sourcing Event with AI Support

This case illustrates how students can create an E-sourcing event and leverage an e-sourcing platform (e.g., Market Dojo) in combination with AI (such as ChatGPT) to plan and execute a complete sourcing...

ChatGPT Apps has helped you improve your productivity

I know ChatGPT Apps – what is next?

In the journey from “What are ChatGPT Apps?” to “I’ve built half a dozen that save me hours each week,” the modern procurement professional has already taken giant strides. But for the...

Strategic SRM Software tools

Integrating SRM Software into Strategic, Tactical, and Operational Procurement. This blogpost is part of the Know You Suppliers course. Strong Supplier Relationship Management (SRM) transforms procurement by moving beyond transactional tasks to...

By having effective supplier monitoring tools she can mitigate risks before the grow unmanageable

Beyond Google Alerts: Modern Supplier Intelligence Tools (2025 Guide)

Procurement teams today need real-time, multi-channel monitoring of supplier news and risks, not just basic Google Alerts. Simple keyword alerts can miss critical updates (e.g. new lawsuits, leadership changes, or cyber incidents). In 2025,...

BATNA supporting your negotiation position

Case Study: Using BATNA in Supplier Negotiations for Component Sourcing

Introduction: The Negotiation and Contracting Stage in Sourcing In sourcing events, Step 6 – Negotiation and Contracting – is where a buyer finalizes terms with suppliers after soliciting and evaluating bids (Learn...

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...

General sourcing process and assessing current situation in step 2

Student Briefing – Sourcing Case Simulation: Step 2 – Assessing the Current Situation

🎯 Welcome to the Sourcing Simulation You are about to step into the shoes of a procurement professional preparing for a real-world sourcing event. Your task is to analyze the current situation for a specific category within...

Supplier Management = Supplier Relationship Management?

Executive Summary Supplier Relationship Management (SRM) transforms traditional, transactional supplier oversight into a strategic, partnership-driven discipline. While Supplier Management ensures organizations get the right goods at the right price—covering supplier evaluation, contract governance, performance...

Tag: Advanced level