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Chand Sooran
Chand Sooran

62 Followers

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11 hours ago

How Can Procurement Attract and Retain Talent?

I often remark that “nobody grows up wanting to be in procurement.” Maybe somebody out there did. I have not met them yet. When children are in school, they dream of more glamorous occupations: professional athlete, entertainer, politician, and now, influencer. Of course, not everyone is suited to be these…

Procurement

5 min read

How Can Procurement Attract and Retain Talent?
How Can Procurement Attract and Retain Talent?
Procurement

5 min read


Nov 17

Reference Checks Reign Supreme in Vendor Risk Management

There has been an explosion in services that seek to help buyers vet suppliers. These services take unstructured data from a variety of sources online and develop a structured set of data, specific to an individual vendor. …

Procurement

5 min read

Reference Checks Reign Supreme in Vendor Risk Management
Reference Checks Reign Supreme in Vendor Risk Management
Procurement

5 min read


Nov 15

What Important Procurement Truth Do Very Few People Agree With You On?

Peter Thiel wrote the book on entrepreneurship: Zero to One: Notes on Startups, or How to Build the Future, In it, he talks about the principles that he believes work well for people looking to solve problems. For him, there is one question that can help him understand the potential…

Procurement

7 min read

What Important Procurement Truth Do Very Few People Agree With You On?
What Important Procurement Truth Do Very Few People Agree With You On?
Procurement

7 min read


Nov 6

Augmented Procurement Reality

Enterprise Resource Planning (or “ERP”) systems are core to the way organizations do business today. Think of them as a general ledger for all kinds of workflow, or as the definitive source of truth for various processes and transactions. This does not mean that they are easy to use. ERP…

Procurement

5 min read

Augmented Procurement Reality
Augmented Procurement Reality
Procurement

5 min read


Oct 29

Good Procurement Practices Massively Lower Costs

Internal discussions about procurement tend to focus on cost above all else. The procurement department exists to beat down suppliers and ensure that they get the best price or to enforce policies and procedures intended to curb waste, fraud, and abuse. An interesting study from researchers at Yale University, Columbia…

Procurement

5 min read

Good Procurement Practices Massively Lower Costs
Good Procurement Practices Massively Lower Costs
Procurement

5 min read


Oct 11

Reverse Auctions Are the Superior Procurement Approach

For business-to-business buyers, what is the best way to buy something? Looking at it from the other side, what is the best way to sell something to a business-to-business buyer? Well, as an economist, I naturally defer to the answer, “it depends.” I need more information to answer. First, what…

Procurement

5 min read

Reverse Auctions Are the Superior Procurement Approach
Reverse Auctions Are the Superior Procurement Approach
Procurement

5 min read


Sep 22

Suppliers Don’t Respond to RFPs Because They Think They’re Rigged

A Request for Proposal (RFP) is a reverse auction. Unlike a regular auction in which there is a single seller and an audience of buyers bidding up the price of the item, in a reverse auction there is a single buyer facing a crowd of suppliers bidding down the price…

Rfp

4 min read

Suppliers Don’t Respond to RFPs Because They Think They’re Rigged
Suppliers Don’t Respond to RFPs Because They Think They’re Rigged
Rfp

4 min read


Aug 29

In Procurement, Value Isn’t Price and Price Isn’t Value

Imagine a new procurement officer named Jill who joined an established manufacturing company recently. She has been put in charge of her first project. She needs to purchase 1,000 pounds of Grade C Copper. It’s a commodity. …

Procurement

4 min read

In Procurement, Value Isn’t Price and Price Isn’t Value
In Procurement, Value Isn’t Price and Price Isn’t Value
Procurement

4 min read


Aug 8

Joint Procurement Does Not Have to Be Slow

Every large sourcing event is now a team event, as we wrote about previously in “Procurement Is a Team Sport,” quoting Gartner: “The typical buying group for a complex B2B solution involves six to 10 decision makers, each armed with four or five pieces of information they’ve gathered independently and…

Procurement

4 min read

Joint Procurement Does Not Have to Be Slow
Joint Procurement Does Not Have to Be Slow
Procurement

4 min read


Aug 5

In Procurement, Margins Are More Important than Cost Savings

The conventional wisdom about procurement is that cost savings are the fundamental priority. One sees this emphasis all the time. Here is Procurement Magazine referring to the 2023 Hackett Group survey: “Procurement’s main priorities for the year include ensuring supply continuity, combatting inflationary pressures and reducing spend cost.” Who could…

Procurement

4 min read

In Procurement, Margins Are More Important than Cost Savings
In Procurement, Margins Are More Important than Cost Savings
Procurement

4 min read

Chand Sooran

Chand Sooran

62 Followers

Founder & CEO, EdgeworthBox. Investor and entrepreneur. I want to change the RFP business process.

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