In an earlier post, I talked about the need for procurement leaders to move beyond cost savings. On my travels, it seems that many procurement leaders are still struggling to get their message across. So, if procurement cannot define its value then why should it be taken seriously by anyone else? To close the gap between procurement and the strategic … Read More
Defining Negotiation Success
Defining Negotiation Success Most companies still focus primarily on financial metrics such as lowest price when defining negotiation success. While financial terms are clearly a key success factor, there are other types of value at stake in negotiations and without a mechanism for giving weight to these other kinds of value, they are likely to be neglected. Best in class … Read More
Is your procurement team ready to lead?
Having the right people in Purchasing is a must to delivering procurements promised strategic contribution. So try to answer the following questions for your organization: Have you developed a Culture where people are deeply aware of and have internalized the Mission, Vision and Core Values needed to execute the Purchasing and Business Strategy? How well prepared and equipped to carry … Read More
The Greatest Challenge is Internal: Stakeholder Relationships
The Greatest Challenge is Internal: Stakeholder Relationship’s Procurement is often perceived as an EXTERNAL facing function. After all procurement negotiates with suppliers and works with them to reduce cost and improve efficiencies doesn’t it? Well this may be true in part, but procurement’s ability to achieve its objectives is strongly impacted by the strength and quality of its INTERNAL relationships … Read More