Collaboration between Finance and Procurement make the Best Strategy

Authored by Usama Shahid

I believe that procurement and finance should understand to work together and share information. But, that collaboration is still, in general, rather superficial and intermittent at most companies. To maximize the total business impact that can be achieved with procurement and supply management, the supply management organization cannot work alone. Finance is often the most important internal “partner” with procurement or supply management organization.

Significance of Pre-Qualification

Authored by Fahad Amjad

Pre-qualification is the process of up-front identification of best of rest suppliers able to compete for specific types of contract opportunities. Prequalified suppliers are those whose record of performance in the marketplace, whether commercial or governmental, demonstrates their ability to perform to consistently high standards of quality and reliability. Selection of the right suppliers is very critical process. Having the right choice of suppliers reduces operational risks. Prequalifying suppliers enhances competition, ensures quality performance, and can also shorten cycle time and strengthen relationships between the buyers and its suppliers.

Managing your Supplier Community

Having identified a category for savings facilities management in our last industry briefing on Discovering Opportunities throughSpend Analysis, how do we manage the supplier base in this category effectively to ensure that we generate value, drive savings and build lasting effective relationships with key suppliers?

This briefing on Managing your Supplier Community delves into why we carry out supplier management, how supplier management applies to the strategic sourcing process, what tools and techniques can be used for supplier engagement and highlights some best practice tips for successful supplier engagement.

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Look out for the final two briefings in the series on Maximizing Sourcing Value and Managing Supplier Risk coming up in September and November!

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Purpose of Procurement Review Committee

Authored by Usman Ghani

Procurement review committee (PRC) an administrative action which established the terms and actions of the procurement policy.

Techniques to Improve Suppliers Performance

Authored by Fahad Amjad

Supplier performance is very much essential for the progress of any organization to stand among the best in the rest. Here are few practices that can be helpful for the improvement of suppliers performance:

Cloud Computing and Procurement

Authored by  Junaid Khan

Cloud Computing allows a company to have all of their Procurement applications (eg: ERP system, Desktop Applications) and other data (contracts, tenders, emails, folders) provided as an online service from anywhere with an internet connection (computers, phones, tablets etc), through off-site dedicated servers (known as a cloud).

A Better Way to Negotiate!

Authored by Usama Shahid

Senior procurement professionals would agree that this is the preferred way to handle alliances and strategic supplier relationships, which collectively account for a large proportion of supply chain spending.

It’s apparent that those suppliers’ teams are making the time to cover every possibility they can think of. The team on the other side of the table? Not so much.Nobody should ever underestimate the importance of securing the support of top management and the heads of the business groups impacted by the negotiation.