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Enhancing Procurement Excellence Through the Power of Negotiation

Procurement Academy

A crucial part of successful procurement strategies is the art and science of negotiation. Procurement negotiation refers to a buyer (usually from a company) and a seller (usually from a supplier) working together and discussing the likes of pricing, terms, conditions, and other aspects of a procurement contract.

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Procurement Analysis: a Game Changer for Purchasing Strategically

Precoro

With the global market expansion and deepening supply chain complexity, the roles of procurement leaders have evolved from tactical to strategic. Nowadays, procurement departments not only focus on the day-to-day buying operations but also search for the most efficient ways to go about them. From whom are we buying?

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Why Procurement Management Tool is a Must for Efficient Purchasing

Precoro

Procurement is a complex and dynamic process involving strategic planning and several stages of execution, from sourcing to paying and reporting. Supply chain management, purchase requisitions and orders, budget management, and three-way matching – all these processes are integral to procurement as a whole. Lack of Transparency.

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Online Procurement System: Guide to Choosing the Right Tool

Precoro

Procurement operations are no exception. In fact, 43% of GPOs that took part in the 2023 Global Chief Procurement Officer Survey cited overall procurement risk had increased significantly as compared to 20% in the 2021 study. Keep reading to learn: What is an online procurement system? Let’s break them down.

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Chief Procurement Officer (CPO) — Meaning and Their Role in Procurement

Precoro

The chief procurement officer (CPO) is a senior executive responsible for developing and implementing their organization’s procurement policies, procedures, and strategies. Making sure these purchases are of high quality and compliant with relevant laws and regulations also falls under the CPO’s responsibilities.

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Is AI Hype or a Truly Revolutionary Technology Set to Transform Logistics? (AI Popup #3)

Freightos

(AI Popup #3) AI Popup #3 August 10, 2024 Dive deeper into freight data that matters Learn More For anyone who has played around with ChatGPT or Midjourney, it’s now clear that AI has the potential to be an incredible tool for enhancing efficiency and productivity. Again, this takes careful and meticulous training.

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5 Reasons Why You Need Procurement Planning Software

New Horizon Supply Chain Blog

Introduction: Procurement Planning for Distribution-Intensive Businesses Procurement planning is not a widely recognized category of supply chain software, but it should be. The resulting plan should maintain adequate safety stock levels for each purchased item while reducing inventory costs.