SCMDOJO

OCTOBER 27, 2023

Supplier negotiation is the most critical skill in the world of procurement. Effective supplier negotiations do not limit to the best price but a mutually beneficial agreement from both the parties that can have a profound impact on the company. The following are common types of negotiation in procurement: 1.

Negotiate Pricing 105

Negotiate Pricing Negotiating Skills Pricing Training Purchasing Training 105

ivalua

FEBRUARY 10, 2023

One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. Let’s explore further.

Sourcing Strategies 264

Sourcing Strategies Price Reduction Purchasing Skills Manufacturing Procurement 264

Procurement Academy

JULY 22, 2022

Negotiation is key to business success. Successful negotiation involves good interpersonal and communication skills used together to bring a desired result. A good negotiator can ensure the right prices are secured, which makes a significant contribution to an organization’s success.

Negotiating Skills 111

Negotiating Skills Pricing Training Purchasing Training Negotiate Pricing 111

Logistics Viewpoints

APRIL 14, 2025

AI in Procurement: Enhancing Sourcing and Supplier Management Procurement has traditionally relied on human expertise, manual comparison of supplier options, and analysis of past performance. Lets examine critical domains, review implementation considerations, and discuss realistic expectations for adoption and outcomes.

Optimal Sourcing 157

Optimal Sourcing Supply Chain Software Supply Chain Planning Software Supply Chain Design Software 157

Precoro

DECEMBER 24, 2024

Procurement AI enables teams to quickly process mountains of data, uncover hidden patterns, and automate repetitive tasks like invoice processing and supplier evaluations. While procurement teams have long worked to add strategic value, Artificial Intelligence (AI) amplifies their impact. So, what does this transformation mean for businesses?

Price Reduction 105

Price Reduction Sourcing Strategies Cost Reduction Strategies Expense Reduction 105

ToolsGroup

OCTOBER 14, 2024

Streamlined Lead Times: Improved procurement efficiency potentially resulting in cost savings from optimized shipping arrangements and favorable supplier terms. Strengthened Supplier Relationships: Utilization of enhanced demand forecasting to negotiate more advantageous pricing and terms with suppliers.

Inventory Reduction 156

Inventory Reduction Negotiating Skills Optimal Sourcing Cost Reduction Strategies 156

SCMDOJO

APRIL 3, 2025

They can raise consumer prices, reduce imports, change trade patterns, and cause other countries to retaliate. Can you increase prices for customers? Negotiate better prices with suppliers, use alternative materials, or implement lean manufacturing. Economic Effects : Tariffs have widespread economic effects.

Negotiating Skills 96

Negotiating Skills Resource Reduction Price Reduction Cost Reduction Strategies 96

Precoro

NOVEMBER 11, 2024

These benefits aren’t just about lower prices; they’re also about reducing transportation and inventory costs, which can really add up over time. After the approval stage, the team reaches out to trusted suppliers in their catalog who can deliver the goods. They also continuously track supplier performance.

Pricing Training 105

Pricing Training Expense Reduction Price Reduction Purchasing Training 105

DELMIA Quintiq

NOVEMBER 17, 2020

Provide procurement more negotiation power with suppliers of materials and services, as well as the ability to automate purchasing and production decisions based on real-time price and market data. Gain an overall view of the supply chain and evaluate different scenarios, which leads to better long-term investment decisions.

Optimal Sourcing 296

Optimal Sourcing Manufacturing Procurement Supply Chain Optimization Supply Chain Planning Software 296

SCMDOJO

JANUARY 29, 2025

Supplier Performance Evaluating supplier performance based on key metrics such as on-time delivery, quality of goods received, adherence to agreed-upon terms, and responsiveness to inquiries. Identifying areas for cost reduction, such as improving production efficiency, minimizing waste, and negotiating better prices with suppliers.

Inventory Reduction 98

Inventory Reduction Negotiating Skills Cost Reduction Strategies Waste Reduction 98

Logistics Viewpoints

MARCH 3, 2021

Many shippers are tough negotiators who work diligently to drive down carrier rates. ARC’s research shows that a shipper that uses either a transportation management system (TMS) internally or works with an external managed trans supplier with robust technology, will get strong freight savings. That is strategic.

Logistics Network Optimization Software 290

Logistics Network Optimization Software Negotiating Skills Negotiate Pricing Report 290

My Office Apps

OCTOBER 21, 2024

Vendor Relationship Management (VRM) helps businesses manage supplier interactions, track performance, and ensure smooth procurement processes. Let’s explore why these features are crucial for optimizing supplier relationships and driving business growth. Why is Vendor Relationship Management Important?

Vendor Strategies 98

Vendor Strategies Procurement Solutions Supply Chain Planning Software Optimization Software 98

Jaggaer

OCTOBER 24, 2024

Building Stronger Relationship s : Effective Approaches to Multi-Tier Supplier Collaboration A chain is only as strong as its weakest link—but what if you can’t evaluate the entire chain? Tier 1 suppliers and their suppliers—and their suppliers’ suppliers—make up an organization’s multi-tier supply chain.

Negotiate Pricing 52

Negotiate Pricing Optimal Sourcing Supply Chain Planning Software Negotiating Skills 52

SCMDOJO

JANUARY 9, 2025

Strategic Sourcing: The Foundation of Effective Procurement Strategic sourcing is far more than simply choosing suppliers. It involves a methodical approach aimed at developing long-term supplier relationships, mitigating risks, and improving overall cost efficiency. Done well, it can become a key driver of competitive advantage.

Optimal Sourcing 98

Optimal Sourcing Manufacturing Procurement Procurement Solutions Negotiating Skills 98

QAD

MAY 14, 2024

Supplier Relationship Management (SRM) is a crucial practice to ensure operational efficiency, supply chain resilience and strategic decision-making. By developing and maintaining mutually beneficial relationships with suppliers, organizations can improve pricing, reliability and innovation, gaining a competitive edge in the market.

Negotiate Pricing 96

Negotiate Pricing Negotiating Skills Optimal Sourcing Sourcing Strategies 96

SCMDOJO

FEBRUARY 15, 2025

Improve collaboration between suppliers, manufacturers, and logistics partners. Businesses need to identify vulnerabilities in their networks, from supplier dependencies to transportation delays. By establishing relationships with multiple suppliers across different regions, companies can reduce dependency on a single provider.

Supply Chain Planning Software 91

Supply Chain Planning Software Supply Chain Software Modeling Inventory Reduction 91

SCMDOJO

JULY 28, 2022

However, when you buy something, you may not always know all the suppliers that offer a particular product. Then the Supplier registration form comes in handy. This means that every time you host a sourcing event, the same suppliers bid on the same products at the same prices. What is Supplier Registration?

Negotiate Pricing 132

Negotiate Pricing Purchasing Skills Procurement Solutions Negotiating Skills 132

Precoro

MARCH 27, 2025

Negotiate better contract terms. For example, companies can negotiate a contract that reduces the per-unit price from $5 to $4.50 Achieved through strategies like bulk purchasing, supplier consolidation, and procurement process automation. Identify unnecessary spending. and achieve an immediate, lasting cost decrease.

Cost Reduction Strategies 45

Cost Reduction Strategies Price Reduction Expense Reduction Vendor Strategies 45

Jaggaer

MARCH 24, 2025

Impact on Procurement: Gen AI leverages vast datasets to generate actionable insights, helping procurement teams predict future trends, such as market shifts, supplier performance, and demand fluctuations. Predictive AI, on the other hand, uses historical data to forecast potential disruptions, price changes, and supply chain risks.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Procurement Solutions Negotiating Skills 52

Jaggaer

FEBRUARY 5, 2025

A successful approach requires careful assessment of supplier bids, followed by structured onboarding, continuous monitoring, and performance measurement. When assessing bids following an eAuction, the process typically involves a combination of automated tools and human decision-making, especially when evaluating factors beyond just price.

Sourcing Strategies 52

Sourcing Strategies Negotiating Skills Optimal Sourcing Price Reduction 52

Supply Chain Shaman

FEBRUARY 18, 2021

Re-implement demand planning, trade promotion management, and revenue/price management together to improve the baseline demand signal. The focus of the transportation suites was on cost mitigation and price negotiation. Air expediting took on a new meaning in January, with air capacity down 18% and escalating prices.

Supply Chain Planning Software 303

Supply Chain Planning Software Supply Chain Design Software Supply and Demand Procurement Analytics 303

Supply Chain Shaman

NOVEMBER 15, 2021

We Assumed that Transportation Would Always Be Available And That We Just Needed to Negotiate Price. Without any penalties for failure for first-pass tender acceptance, carriers and shippers have played a shell game on price. Only 29% of companies have active supplier development groups. What Should We Do.

Supply Chain Design Software 303

Supply Chain Design Software Supply Chain Planning Software Sourcing Strategies Supply and Demand 303

Logistics Viewpoints

FEBRUARY 17, 2023

hope to slash shipping costs and save millions of dollars when they sit down later this month to negotiate long-term contracts with ocean carriers following last year’s surge in rates. Some companies expect to cut ocean-freight rates by half or more, which in turn could allow retailers to slow or stop price increases for goods.

Logistics Network Optimization Software 278

Logistics Network Optimization Software Waste Reduction Cost Reduction Strategies Resource Reduction 278

Jaggaer

FEBRUARY 5, 2025

Strategic Sourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. But there is a distinction between price and value. emergency purchases and b.)

Negotiating Skills 52

Negotiating Skills Purchasing Skills Sourcing Strategies Optimal Sourcing 52

ivalua

JUNE 29, 2021

Enabling rapid, cost-effective and transparent supplier payments anywhere in the world. Redwood City, CA, June 30, 2021 – Ivalua, a global leader in Cloud Spend Management solutions, announces an extension of its source-to-pay platform with a new payments solution to digitize and streamline global supplier payments.

Negotiate Pricing 130

Negotiate Pricing Optimal Sourcing Sourcing Strategies Negotiating Skills 130

ivalua

JANUARY 29, 2020

For the vast majority of organisations, suppliers must play their part when it comes to agile business and speed to market. That requires extraordinary work internally and co-ordination with key suppliers. The related objective for that firm is that no less than 70% of those new products should come from supplier-generated ideas. .

Negotiating Skills 164

Negotiating Skills Negotiate Pricing Optimal Sourcing Procurement 164

SCMDOJO

APRIL 11, 2025

A scorecard acts as your dashboard, providing crucial visibility that helps you: Make Data-Driven Decisions: Replace guesswork with facts when evaluating suppliers, processes, and inventory levels. Control Costs: Track value beyond just the purchase price and manage inventory effectively. Supplier lateness? Logistics issues?

Pricing Training 52

Pricing Training Negotiating Skills Purchasing Skills Optimal Sourcing 52

Jaggaer

FEBRUARY 5, 2025

A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. The process creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting.

Negotiating Skills 52

Negotiating Skills Sourcing Strategies Purchasing Skills Optimal Sourcing 52

GlobalTranz

NOVEMBER 28, 2016

Editor's Note: Today's blog is by our great friend, Chuck Intrieri where he gives us a fantastic example of how Procurement and Suppliers can enhance Supplier Relations by navigating the "Battle of the Forms.". Naturally, a supplier relations conflict exists. Contract Negotiation Enhancing Supplier Relations.

Negotiate Pricing 120

Negotiate Pricing Manufacturing Procurement Optimal Sourcing Purchasing Skills 120

Silvon Software

APRIL 19, 2022

Supplier KPIs. Managing supplier performance can help procurement leaders focus their resources on value-added activities, instead of addressing the problems caused by supplier performance like defects, rush, excessive inventory, delayed delivery to customers, shutdowns, etc.

Optimal Sourcing 124

Optimal Sourcing Procurement Analytics Manufacturing Procurement Negotiate Pricing 124

QAD

JANUARY 16, 2025

This complexity is amplified for organizations like KION Group AG with a global footprint, necessitating strong relationships and clear communication with suppliers at every level to respond proactively to shifting market conditions. This approach was increasingly insufficient for a company of its scale.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Negotiating Skills 52

Supply Chain Shaman

JUNE 29, 2022

The automotive industries–with the poorest capabilities to plan and manage suppliers–will suffer the most. The answers lie in investments in supplier development teams, the simplification of the bill of materials and product platforms, and analytics to forecast requirements based on consumption. What to do? Conclusion.

Supply Chain Design Software 259

Supply Chain Design Software Supply Chain Planning Software Supply Chain Design Pricing Training 259

Procurement Academy

FEBRUARY 11, 2025

Understanding Supply Chain Legal Issues Expanding global supply chains can become quite complex as more stakeholders become involved, leading to a wide range of legal concerns that can affect everything from suppliers right through to your end customers. Negotiation should be the first attempt at a solution when a problem does arise.

Pricing Training 52

Pricing Training Buyer Training Purchasing Training Negotiating Skills 52

Clear Spider

OCTOBER 21, 2024

Spoiler: Effective inventory management strategies are key to navigating price hikes without passing excessive costs onto consumers. As prices continued to rise, purchasing power plummeted. Higher Production Costs: Raw material prices have surged, increasing the overall cost of production. Is Your Supply Chain Inflation-Proof?

Inventory Management Software 52

Inventory Management Software Inventory Reduction Inventory Management Purchasing Skills 52

Precoro

NOVEMBER 13, 2023

One of the ways that procurement teams improve this figure is by tracking and improving the purchase price variance (PPV) metric. Purchase price variance can be tracked for each separate purchase or for the total procurement spend over specific time periods – for instance, monthly, quarterly, or yearly.

Purchasing Skills 98

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 98

SCMDOJO

FEBRUARY 26, 2025

indicates cost inefficiency, signaling a need for supplier negotiations or alternative sourcing strategies. al, negotiating better rates , or consolidating shipments. Example: A supplier was expected to deliver components worth $500,000. The CPI calculation would be: CPI =100,000/120,000 = 0.83. A CPI of 0.83

Negotiating Skills 52

Negotiating Skills Optimal Sourcing Negotiate Pricing Cost Reduction Strategies 52

Precoro

JULY 1, 2024

Many SMBs feel disadvantaged because they have little leverage in negotiations with suppliers or vendors and can’t secure discounts due to low order volumes. Small companies may also lack the resources to create a dedicated procurement team for proper sourcing and supplier vetting.

Purchasing Skills 105

Purchasing Skills Procurement Solutions Procurement Analytics Negotiate Pricing 105