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𝐆𝐫𝐞𝐚𝐭 𝐢𝐧𝐬𝐢𝐠𝐡𝐭 𝐨𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐞𝐦𝐞𝐧𝐭 𝐍𝐞𝐠𝐨𝐭𝐢𝐚𝐭𝐢𝐨𝐧𝐬! Follow us : Applied Electronics Training & Consultancy by Energy1 Asia #supplychain #procurement #procurementnegotiations #strategicprocurement

𝐆𝐫𝐞𝐚𝐭 𝐢𝐥𝐥𝐮𝐬𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐞𝐦𝐞𝐧𝐭 𝐍𝐞𝐠𝐨𝐭𝐢𝐚𝐭𝐢𝐨𝐧𝐬! Follow us : Applied Electronics Training & Consultancy by Energy1 Asia #procurement #supplychain #procurementnegotiations #supplychainstrategies #procurementstrategies

Sums up the type of negotiations really well. Instead of distributing within the existing pie our focus should be on increasing the size of pie. Short term gains can be inclined towards one party however in longer run it should be a win for all the parties involved. If not, than you end up hampering supplier relationship when they realize that they have nothing to win in the process. #negotiations #procurement #supplychain

❝A simple tip to help Procurement with their Stakeholders!❞ --- In my role as Head of Procurement, I noticed many years ago that when I included my internal stakeholders in my negotiation courses (I was just beginning to deliver them in-house at the time), they began involving me more in supplier discussions sooner! TIP: Always include your stakeholders on your negotiation courses! #ProcurementSuccess #procurement #negotiation #suppliermanagement

Ever faced the Everest of procurement policies? 📚 You know those 25-page tomes we assume everyone will read attentively. Reality check - they won't. From experience, a concise A3 Procurement Policy Poster is a great way to summarize your key points. Business partners are more receptive to the main messages delivered this way. Below👇 you'll see some work I have done with teams in the past, which I hope will inspire you. --- 𝘌𝘥𝘪𝘵𝘢𝘣𝘭𝘦 𝘷𝘦𝘳𝘴𝘪𝘰𝘯, 𝘭𝘦𝘵 𝘮𝘦 𝘬𝘯𝘰𝘸.

Thanks to those that joined the recent senior procurement session. Some valuable takeaways included: * Understanding the differing perspectives of sales vs procurement in contract negotiations and how to use that in achieving desired outcomes. * Discussion around different industries and their approach to procurement. * Why and how procurement holds an important role in scope development, either enhancing or simplifying. Really looking forward to the next session!

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Procurement Vital Signs: Recognizing Your Value As we embrace the progress of the year, let's reflect on the heartbeat of our procurement practices: 🩺 Visionary Procurement: Embracing our role as strategic partners, not just as a function that responds when called upon, but as proactive architects of value. 💉 Transparent Innovation: Cultivating an ecosystem of trust through clear processes, we pave the way for innovative solutions and transformative outcomes. 🔬 Unified Operations: Breaking down silos, we foster an environment of collaboration, where procurement acts as the connective tissue that binds various departments together. 💊 Holistic Value Realization: Moving beyond cost considerations to embrace quality, sustainability, and overall value, we elevate the procurement role from cost center to value driver. 🌡️ Thriving Supplier Synergy: Engaging with suppliers not as mere vendors but as strategic allies, we craft relationships that fuel growth and mutual success. As procurement professionals, our true worth is found in the strategic value we bring. With every quarter, let's recommit to being the pulse that keeps our organizations alive and thriving. Here's to a prosperous journey ahead, filled with innovation, collaboration, and enduring success. Cheers to our collective achievements and to an even brighter future! We are going to Level Up Procurement in 2024!

Avoid these three common pitfalls in procurement: 1) Lack of transparency: Without open communication and clear documentation, businesses risk damaging relationships with suppliers and losing valuable contracts. 2) Inflexible contracts: Procurement contracts should have a clearly defined scope but also flexibility to adapt to the ever-changing business landscape. 3) Ignoring internal stakeholders: Procurement is not just about negotiating with suppliers; it's also about aligning with internal teams to understand their needs and goals. Dodge these pitfalls to build a strong procurement strategy that supports your organization's objectives. Are there any additional mistakes you've experienced or observed in the field? Share them below so we can learn together. Reading Recommendation: The Procurement Playbook: Strategies and Plays from Sourcing to Suppliers by Laszlo Goerke.