February 2, 2012
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Combating supply chain risks

The year 2011, on the economic front was another year of uncertainty. A global economic recovery remains underway, although it is alarmingly long and slower than any other. The economy continues to remain tepid, and job market recovery in the U.S. will take years. Europe is grinding forward. We may see the end of Greece in the EU, and indeed, the notion of the euro continuing forward in 2012 is …

January 31, 2012
Ways to Measure Procurement Profit and Loss for your Business
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Ways to Measure Procurement Profit and Loss for your Business

Ways to Measure Procurement Profit and Loss for your Business

In this article, you’ll learn about documents to audit to figure your procurement profit and loss to determine the role it plays in your business.

Coming to terms

When things were tough, organizations rely on procurement. World wars, oil embargos, and recessions are a few of the events that highlight the significance of responsible procurement. Slowly, organizations around the world are trying to realize the potential of the procurement function. …

January 27, 2012
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Embracing Social Media

The last decade has seen a rapid increase in the number of people using social media platforms. Latest reports place the number at more than 1.5 billion. I firmly believe the time has come for procurement to embrace social media and, in so doing, can benefit in three areas: information management, risk mitigation & supplier management and collaboration. Let us look into each:

You can connect with me on Twitter …

January 24, 2012
Why Maintaining Supplier Relationship Management is Important
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Why Maintaining Supplier Relationship Management is Important?

Why Maintaining Supplier Relationship Management is Important

In this article, you’ll learn about why maintaining supplier relationship management is important to your procurement function.

Why Organizations Rely on Supplier Relationship Management?

In a volatile business environment, to increase the competency and add new competitive advantages, organizations rely on supplier relationship management. Having a healthy relationship with the suppliers, helps organization receive better service, procure efficiently, and maintain a sustainable relationship over the long run.

How to

January 19, 2012
These 5 Contract Management Best Practices can do Wonders!
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These 5 Contract Management Best Practices can do Wonders!

These 5 Contract Management Best Practices can do Wonders!

What is Contract Management?

Contract Management is the management of contracts businesses sign with their employees, customers,  partners, and vendors. The person in charge of contract management is a contract manager who takes care of the whole process of negotiating, supporting, and managing contracts.

Role of Contract Management in Procurement

Be it in any business; regular institute management is a critical part of business administration. In procurement, it plays a …

January 16, 2012
You Sure Didn’t Realize these Benefits of Strategic Sourcing
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You Sure Didn’t Realize these Benefits of Strategic Sourcing

 You Sure Didn’t Realize these Benefits of Strategic Sourcing

In this article, you will learn about the various benefits of strategic sourcing and why it is worth any investment for emerging organizations. We’ll discuss an overview of ‘Strategic decision making on future sourcing projects.’

Strategic sourcing helps enterprises identify, evaluate, negotiate, and implement the optimal mix of goods and services.

The Sourcing Cycle

Today, enterprise competition is not limited to the assets but also intellectual property rights, customer, and …

January 11, 2012
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3 Steps to Reducing Spend Through Procurement – BFSI perspective

Although the economic environment is more benign than at this time last year and there are signs of recovery, banks and financial services firms are still facing uncertainty. Slow economic growth coupled with new banking regulations on the horizon — such as Basel III, which will require banks and financial services firms to hold more capital and low-yielding liquidity — could translate into unprofitable business lines and higher costs for …

January 9, 2012
This is What Happens When you Implement Spend Analysis
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This is What Happens When you Implement Spend Analysis

This is What Happens When you Implement Spend AnalysisFor long, we have wondered how to harness spend for analytics that can improve business performance. Now Spend Analysis is the answer with procurement evolving every day. It is because of such technological evolution; procurement could transform its image from being a transaction to more strategic. The transformation not only helped the delivery of value to the bottom line but to all necessary processes.

70% of organizations across the globe

December 20, 2011
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Procurement in a Galaxy very very near you: How Yoda’s teachings apply to your procurement processes. (Part 4)


As Yoda talks about the substance and not the size that matters, it holds for your spend solution needs as well.

In the Procurement Galaxy: Vendors might sell you their heavy weight solutions capable of doing all sorts of complex yet unnecessary stunts, but you must understand that what addresses your requirement in the most efficient and easy to use solution. Interestingly it addresses one common misconception associated with spend

December 15, 2011
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Procurement in a Galaxy very very near you: How Yoda’s teachings apply to your procurement processes. (Part 3)

It’s the duel between the Jedi Master (Master Yoda) and the Sith Lord (Darth Sidious) when the Sith Lord tells that Yoda would see the real power of the dark side and Darth Vader would become more powerful than either of them. The Grand Master tells Sidious that maybe he has bestowed excessive faith in both the dark side of the force and his new apprentice (Darth Vader)

In the