Cost Savings and Methods of Calculation

Authored by  Junaid Khan

While cost saving may seem to be a tactical measurement, it is a component of value that is tangible. Some organizations only permit the reporting of hard savings, which result from the negotiated reduction of amounts already contracted with a vendor. Other organizations result from negotiated reductions in a vendors initially proposed pricing. Many organizations combine hard and soft savings, and simply use the term “cost savings” to refer to the collective savings. 

Top Tendering Tips for Suppliers

While responding to tender documents, it is important for bidders to read the documentation carefully to ensure that their organization reasonably responds to tender and delivers the work required. Here are some of the tips for bidders to be considered while responding to tenders:

Significance of Procurement Planning

Authored by Fahad Amjad

Procurement planning is the process which used by many organization to plan purchasing activity for a certain period of time. This is usually completed during the budgeting process of organizations. Each year, departments are required to request budget for staff, expenses, and for the purchases of different items. This is the first step in the procurement planning process. Procurement plans can be prepared in many different formats. The important thing to remember is the content while this planning. Procurement plan should cover all the different steps in the process with the expected date of initiation of each milestone.

Vendor Management – How Do You Score Your Vendors?

Authored by Usama Shahid

Some companies believe that it is the management of vendors in order to achieve better prices and terms. Others believe that vendor management is building a relationship with your vendors in order to obtain mutually beneficial interactions.

Reducing the Risk of Supply Chain Disruptions

For supply chain executives, the early years of the 21st century have been notable for major supply chain disruptions that have highlighted vulnerabilities for individual companies and for entire industries globally.

Evolution of Material Management

Authored by  Junaid Khan

Material management is an essential business function and it is concerned with planning, acquisition and flow of materials within the supply chain. Material is one of the four basic resources (labor, material, equipment and capital) of any industrial of business activity. For a long time, it was regarded as a routine function with less importance but over the years, with accelerating economic, technological, societal and environmental changes, this function has become more important, more complex and more professional.

Procurement Managers with Toughest Job

Authored by Usman Ghani

The most basic job for most of the employees in procurement management is to establish such strategies which are sensible and more approachable to buy their goods and services, but it is not an easy task for the management of the concern department, because this department is answerable to all departments of the firm, most of the organizations in all over the world have almost the same criteria.