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Mastering the art of Supplier Negotiation: Tips and Techniques

SCMDOJO

Supplier negotiation is the most critical skill in the world of procurement. Effective supplier negotiations do not limit to the best price but a mutually beneficial agreement from both the parties that can have a profound impact on the company. The following are common types of negotiation in procurement: 1.

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Leveraging Your Bargaining Power in Logistics Service Provider Negotiations

The Logistics & Supply Chain Management Society

Leveraging Your Bargaining Power in Logistics Service Provider Negotiations by LSCMS Shippers’ Council The logistics industry is a complex and constantly evolving ecosystem that plays a vital role in the global economy. Shippers have until quite recently been faced with a daunting challenge when it comes to negotiating with LSPs.

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Inflation + Source-to-Pay Strategies: The Cure for the Common Price Hike

ivalua

One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. Let’s explore further.

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Unlocking Success: Why Strategic Sourcing Is Important for Your Company

Precoro

The dynamic landscape of modern business comes with increasing product variety and volatile prices, making it more important than ever to stay competitive on the market. To enhance their competitive edge, companies across industries are adopting a key tactic: strategic sourcing.

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Essential Skills to Secure Your Place in a Digital Supply Chain Organization

ToolsGroup

As a professional, securing your place in any supply chain organization entails developing the supply chain skills needed to ride this global wave into supply chain digital transformation. The days wherein sustainability was considered a buzzword in the global supply chain are long gone.

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The Promise and Peril of Generative AI for Supply Chains

Logistics Viewpoints

This description by a Chief Supply Chain Officer of the state of the supply chain he found in his new role stuck with me. Unlike a supply chain, these steps rely on no disruption to their execution. While there is endless speculation, from my reading two supply chain-specific opportunities intrigued me.

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The Top 5 Skills Every Procurement Manager Needs

Precoro

According to KPMG , a global network of professional firms providing audit, tax, and advisory services, building a dedicated procurement team helps companies achieve substantial cost savings through effective vendor and category management. What are the top 5 skills every procurement manager needs? Read on to learn about them.