Reverse Auctions Explained
Reverse Auctions allow the sellers to bid for the prices they wish to sell their products and services at. Read on to see how this can benefit the procurement process.
What is Supply Chain Mapping?
In this article, we’ll reveal how documenting supply chain data in a step-by-step process can bolster relationships, subsequently fast-tracking and adding value to supply chains.
Invitation to Bid Explained
An invitation to bid is an important part of the procurement process – allowing businesses to remain fair and compliant in the bidding process, while ultimately accessing the most attractive and cost-effective vendor services.
A Guide to AI in Procurement (2023)
AI stands for artificial intelligence – the simulation of human intelligence by blending computer science, software programming and large-scale data sets to perform functions without human interference. When realised as intended, AI can automate many business operations, like supply chain management, construction and manufacturing, as well as how businesses source and acquire goods and products…
How to Effectively Conduct a Procurement Audit
Every business wants to ensure its procurement process is secure, free from fraud and cost-efficient. Part of the process of achieving these goals is through a procurement audit.
Strategic Sourcing Defined
Strategic sourcing is an essential methodology for any department working in the source-to-contract process. It gives businesses the insight to understand how they’re going to obtain essential business supplies and which supplier is best for their business.