Should you pay suppliers on time?

For most buyers the obvious answer is YES, you should pay suppliers on time. Contracts and General T&Cs (Terms and Conditions) define payment terms and the number one argument is; if the...

When should Kraljic Matrix be applied?

Many buyers have heard about Kraljic Matrix. But how and when should the Matrix be applied? Let us discuss. Who is Peter Kraljic? Peter Kraljic is a name synonymous with innovation in...

A buyer working with Know your suppliers process by setting up Google Alerts

Know your suppliers with a Google Alert

Know your suppliers with Google Alerts. In supply chain management, staying informed about the status and activities of your suppliers is crucial. Google Alerts, a free tool offered by Google, can be...

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 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...

A procurement management team working on risk management practices in procurement

Risk management practices in procurement with ISO 31000

Managing risks has become an imperative for organizations aiming to maintain competitiveness and achieve sustainability. The adoption of ISO 31000, the international standard for risk management, offers a structured and effective approach...

Chief Procurement Officer presenting the cornerstones of a the CPO agenda

The agenda of a Chief Procurement Officer (CPO)

As the head of a company’s procurement department, the Chief Procurement Officer (CPO) is responsible for ensuring that the organization’s procurement function is efficient, cost-effective, and aligned with the company’s overall goals...

image of a professional senior buyer using an ERP to issue a blanket Purchase Order

Blanket Purchase Order (BPO) explained

A Blanket Purchase Order (BPO) is a type of purchase order issued by businesses to vendors that covers multiple delivery schedules over a period of time, usually to purchase a repeat service...

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...

Verifying the sustainability of supply chains

Sustainability is becoming an increasingly important consideration for businesses and consumers alike. Companies are recognizing the importance of ensuring that their supply chains are sustainable and environmentally responsible. However, verifying the sustainability...

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