5 steps to a successful strategic procurement process

The procurement process is not an easy one to handle. Strategic procurement needs the involvement of an entire organization. It necessitates effort from all departments of a company. A strategic procurement team is essential to set the overall direction for procurement, aligned with the business strategy. In fact, a procurement strategy is one of the […]

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Optimizing the procurement process to boost efficiency

The role of procurement extends far beyond the belief that procurement’s primary function is to obtain goods and services in response to internal needs. A world-class procurement process aims to optimize the whole process to create significant business value. Procurement optimization leads to a number of benefits and add remarkable value to your organization as a […]

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Ethics in Procurement: What are you doing to keep procurement ethical?

Ethics play a major role in procurement and are considered more important as technology and consumer behavior change. Being ethical means being in accordance with the rules or standards for right conduct or practice, especially the standards of a profession. For instance: procurement is involved in supplier selection, evaluation, negotiation, contracts sign off and awarding […]

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Supply Chain trends to watch in 2018

As 2018 approaches, companies are expected to restructure their business model. It is not just about improving the customer experience, but also enhancing customer expectations to redefine brand positioning. With technological innovation, customers and markets are shifting. Digitization and transparency has led to new trends in the supply chain industry. It is essential for businesses to […]

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Best practices to encourage procurement savings

The purpose of any organization is to make profits in a sustainable way. Procurement plays an important role in achieving those recurrent profits. One of the most essential factors to consider for achieving the best business results lies in a cost-effective procurement and making savings. The aim of procurement savings are to drive down procurement costs, […]

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Top Competencies needed by today’s procurement professionals

The Deloitte Global CPO Survey 2016 revealed that some of the main concerns from leaders in the procurement industry were increasing risk levels and a general shortage of skills. Procurement professionals work with suppliers and distributors regularly and therefore need to be able to possess confidence and an awareness of how the industry operates. Besides, the need for staff […]

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Practical steps to take to avoid legal challenges in Procurement

A thorough understanding of the legal framework can impact day-to-day procurement. Anybody purchasing goods and services on an organization’s behalf should have sufficient knowledge of contract law to know what the pitfalls might be so that they can recognize them and seek appropriate  legal advice  in a timely manner. It is essential for procurement professionals […]

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Best practices for managing procurement talent

Today the procurement function is getting increased attention as a key contributor to the overall strategic success of a company. During the past few years, procurement has begun to play an increasingly important role in the strategy of organizations. However, there’s a mismatch between the skills the procurement function needs from its employees and their […]

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Future Procurement Podcast – Interview of David Rajakovich

Robert Freeman from Future Procurement interviewed David Rajakovich – managing partner at Procurement Academy and Supply Chain Academy. Below is the transcript and podcast of the interview, highlighting the innovative solutions of Procurement and Supply Chain Academy.   Listen to the full interview here: https://www.dropbox.com/s/ek0ef0d160zgal5/038-podcast-with-interview-David1_v2.mp3?dl=0   Tell a little bit about your background and your current […]

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