Reverse auction, the process by which an organization purchases its raw materials or supplies, is being adopted by more and more organizations today. A system where the traditional roles of the buyer and seller are reversed, in a reverse auction, the supplier’s bid for a chance to fulfill a buyer’s requirements instead of a buyer […]
Benefits of Reverse Auctions for Buyers and Sellers – Part One Read More »
Before we get into procurement fraud and what we can learn about it from the second labor of Hercules, let’s take a look at the second labor itself. To atone for killing his wife and children, Hercules is sent to serve King Eurystheus for a period of twelve years by an oracle. The King sets
What Hercules’ Second Labor Teaches us about Procurement Fraud – Part One Read More »
In this age of cloud computing, online procurement software can help run business procurement efficiently and effectively. Developing an effective procurement strategy has become very important for business. So to start off, understanding the term procurement is necessary. To understand the terminology in a simple way, it is the act of obtaining. In business procurement
Why do you need Online Procurement Software? Read More »
“It’s a VUCA world,” one of my management professors was fond of saying, in the same dark tone that Ned Stark from Game of Thrones used whenever he said, “winter is coming.” In a world where volatility, uncertainty, complexity, and ambiguity are ubiquitous and can adversely affect our business processes, we can’t survive for long
Dealing with Supplier Risk — Part One Read More »
Gone are the days when procurement was just a division that dealt with ordering and procuring goods and services to satisfy internal business requirements. Organizations today are closely monitoring their procurement departments as they have realized their importance and the need for continuous improvement. As a result, procurement has gained greater significance as an important
Procurement Management: Some Common Problems and Their Remedies Read More »
Software providers do a lot of ?keeping up with the Jones.? If their competition adds a feature, they do to. Then each trumpets its innovations as different (somehow) from all the others. This follow-the-leader mindset may keep a vendor in business, but it doesn’t? really do much for its clients: The ?innovations? are not based
Vendor Innovation Can Solve All Your Problems Read More »
