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Suppliers annually asking us for comparison quotes from their competitors
Navigating Annual Supplier Benchmarking Requests: Best Practices and Considerations In the course of managing supplier relationships, businesses occasionally encounter requests from vendors seeking comparative quotes from competitors. While such annual benchmarking exercises can provide valuable insights into market rates and industry standards, they also pose ethical and strategic considerations for procurement teams. Understanding the Nature…
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Where do you look most for new suppliers
Strategic Approaches to Finding New Suppliers: An Industry Perspective In today’s competitive manufacturing and procurement landscape, sourcing reliable suppliers for new or specialized products remains a critical component of supply chain management. Whether expanding your product line or addressing gaps in your current supplier network, identifying the right partners efficiently can significantly impact your business’s…
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Does ‘Net 30’ always mean ‘30 days from end of the month’?
Understanding ‘Net 30’ Payment Terms: Does It Always Refer to the End of the Month? In the world of business transactions, payment terms can sometimes seem confusing, especially when different interpretations circulate among professionals. A common question that arises is whether the phrase ‘Net 30’ always means 30 days from the end of the month…
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If you are a procurement team of one… with no clear procurement program in place… what should you focus on first?
Starting Point for Solo Procurement Professionals: Building a Foundation Without a Formal Program Navigating procurement responsibilities without a structured program can be a daunting challenge, especially for practitioners operating solo within their organizations. While larger teams benefit from specialized roles and well-established processes, small or emerging procurement functions often find themselves grounded in ambiguity, learning…
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Got annoyed with what’s out there so I’ve made a resource site to help others
Introducing ProcurementTools.org: A Free Resource Hub for Procurement Professionals In the fast-paced world of procurement, having quick access to reliable templates and tools can significantly streamline sourcing processes. However, many existing online resources come with hurdles such as mandatory account creations, trial memberships, or intrusive data collection practices, which can hinder efficiency and user experience.…
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Supplier data management is killing me
Streamlining Supplier Data Management: Overcoming Challenges in Modern Procurement Effective supplier data management is a critical component of operational success, yet many organizations grapple with the complexities of maintaining accurate, accessible supplier information. As businesses grow and diversify their supply chain networks, the need for robust systems becomes increasingly apparent. This article explores common pain…
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I have a procurement interview in a few hours, but I have an art degree and no experience
Transitioning into Procurement: Navigating Your First Job Interview with an Art Degree Embarking on a career change can be both exciting and daunting, especially when your academic background doesn’t directly align with your intended field. If you’re like many professionals transitioning into procurement—particularly with a non-traditional degree such as art—it’s natural to feel uncertain about…
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How is procurement as a career?
Exploring a Career in Procurement: Opportunities, Challenges, and Growth Potential Embarking on a career journey often involves exploring various fields to identify where one’s skills and interests align best. For many, procurement emerges as a compelling option due to its critical role in organizational success and its evolving landscape. If you’re considering this path, understanding…
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AP department for large corporation moving from Net30 to 45 or 60 and my suppliers are not happy
Navigating Extended Payment Terms: Challenges and Strategies for Maintaining Supplier Relationships in Large Corporations In today’s complex supply chain environment, managing Accounts Payable (AP) terms is a critical aspect of maintaining healthy supplier relationships. Recently, I have observed a shift within my organization’s AP department, which has extended payment deadlines from Net30 to Net45 and…
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Supplier discovery is driving me insane
Overcoming Supplier Discovery Challenges: Navigating the Complexities of Global Sourcing In the dynamic world of procurement, sourcing reliable suppliers outside traditional hubs like China has become an increasingly important strategy. With recent global events reshaping supply chains, many professionals find themselves venturing into uncharted territory, often facing unforeseen hurdles. Understanding the Shift Away from China…