Urszula Stankiewicz’s Post

How to save 💰 with better procurement strategies Step 1: Identify your needs - Understand what you need - Understand how much you're willing to pay - Define business outcomes Step 2: Research potential suppliers - Expert in your industry - Balanced portfolio of clients - Cost-effective - Provide ongoing support Step 3: Evaluate suppliers - Rate potential suppliers based on criteria - Use a transparent and collaborative approach - Shortlist candidates - Take feedback from relevant stakeholders Step 4: Negotiate the cost and contract - Understand the supplier's cost and profit drivers - Use a win-win approach to create value - Establish clear performance metrics - Explain your decision-making process Step 5: Manage the relationship - Monitor the supplier's delivery - Provide feedback to improve service - Establish clear escalation procedures - Share data and information By following these steps, you can develop a procurement strategy that delivers long-term cost savings, supplier excellence and optimal outcomes.

Procurement Pro-Tip: How I Help Companies Save Millions Ever wonder how companies manage to secure top-quality supplies at the best prices while building long-term partnerships across different regions? Here’s a little behind-the-scenes on how I help make that happen: ✔️Vendor Sourcing Mastery Finding the right suppliers isn’t just about price. It’s about value, reliability, and understanding market trends. By connecting with top suppliers, I help businesses save on costs without sacrificing quality. ✔️Building Relationships That Last Whether sourcing steel for major infrastructure or hydraulic hoses for niche projects, relationships matter. Trust, communication, and mutual respect across regions allow us to build a reputation that speaks for itself. ✔️Cost Efficiency = Competitive Advantage Efficient procurement is about balancing cost, quality, and delivery timelines. I work behind the scenes to ensure you get the best deals and maintain smooth project timelines. This means you save money, time, and a lot of headaches! The secret sauce? 🎯 Strategic sourcing, proactive communication, and solid partnerships. What challenges have you faced in procurement? Let's share tips in the comments below! 👇 #ProcurementTips #VendorManagement #SupplyChainEfficiency #ProcurementProfessionals #CostSavings

Procurement Terms to Avoid to Better Communicate Procurement’s Value Introduction Clear communication in procurement is crucial for building strong stakeholder relationships. Using procurement jargon can hinder this by creating confusion and misinterpretations. Terms like “RFIs,” “RFPs,” and “RFQs” might be second nature to you, but they can leave others scratching their heads. This disconnect often leads to a negative perception of procurement’s role and […] The post Procurement Terms to Avoid to Better Communicate Procurement’s Value appeared first on Tier 1 HUBZone Certified Woman-Owned Office and Industrial Supplier.

In the world of procurement, we’re accustomed to navigating through complexities and uncertainties. However, the recent landscape has presented us with a unique set of challenges that test our resilience and adaptability. Suppliers, grappling with their own constraints, are offering quotes with incredibly short validity periods—sometimes as brief as two hours. This has introduced a new level of urgency in our decision-making processes. The internal mechanisms of approval, payment, and funding, which are designed to ensure due diligence and financial prudence, now seem to be at odds with the rapid pace required to secure favorable terms. It’s a delicate balance between thoroughness and agility, and many of us find ourselves redoing tasks to keep up with the ever-shifting ground. Even the act of tendering, a cornerstone of fair and competitive business, has become a herculean effort. Securing business under such conditions requires not just skill but also a touch of ingenuity. Are you experiencing similar hurdles in your procurement roles? How do you maintain your composure and efficiency amidst these trials? Your shared experiences and coping strategies are invaluable as we all strive to adapt to these new realities.

In the bustling world of corporate operations, there exists a vital yet often overlooked department: procurement. Behind the scenes, procurement specialists navigate the intricate web of supplier relationships, contracts, and sourcing strategies to ensure the smooth functioning of businesses. However, their value is not always recognized until a crisis arises, as illustrated by a recent incident that unfolded within a manufacturing company.   It all began when a well-intentioned employee, eager to expedite a purchase, bypassed the procurement department and directly contacted a supplier for equipment and service maintenance. Ignorant of the intricacies of sourcing and lacking awareness of basic requirements, they hastily inked a deal without scrutinizing the fine print. Months later, as fate would have it, the equipment malfunctioned, threatening to disrupt the company's manufacturing schedule. Read the full story in our blog. Share your experience with similar situations in the comments. How do you encourage people in your organisation to involve procurement in the sourcing activities? #procurement #outsourcingprocurement

This is one of the challenges facing procurement. However, procurement teams must have prior experience and established strategies in managing and forecasting suppliers, collecting supplier data, understanding their prices and available alternatives, to avoid these situations. They must anticipate and be aware of creating a master database of suppliers before planning.

🌟 Business Procurement: The Backbone of Effective Operations 🌟 Procurement is the process of obtaining the goods and services a company needs to carry out its operations. It includes everything from identifying needs to sourcing suppliers, negotiating contracts, and managing relationships. This is because 1. Cost efficiency: Effective procurement strategies can lead to significant cost savings, allowing companies to allocate resources more efficiently. 2. Quality control: By selecting the right suppliers and maintaining strong relationships, companies can ensure the quality of the products and services they receive. 3. Risk management: A well-organized procurement process helps mitigate the risks associated with supply chain disruptions, ensuring continuity. 4. Sustainability: Modern procurement practices increasingly focus on ethical sourcing and sustainability, aligning business processes with environmental and social responsibility. 5. Innovation: Close collaboration with suppliers can drive innovation, enabling companies to remain competitive in the marketplace. As such, understanding and improving procurement processes has become more important than ever. Do you have a preference for a particular point and are there other points that help in understanding? Share your thoughts with us in the comments! 💬👇 #Procurement #BusinessStrategy #SupplyChainManagement #CostEfficiency #Sustainability #Innovation

The real cost of poor procurement is more than just financial. It can cost companies their reputation. Think about it: - A supplier that doesn't meet quality standards - A contract with unfavorable terms - A security breach because of a vendor These can all lead to long-term damage to a company's image and reputation. That's why it's so important to get procurement right. At Novus Procurement, we specialize in streamlining procurement processes, implementing effective category management, and achieving substantial cost reduction. Let us help you avoid the real cost of poor procurement.

PROCUREMENT ADVICE ALERT❗❗❗❗ One solid procurement advice that can greatly benefit an organization is to prioritize long-term value over short-term cost savings. While it may be tempting to always go for the lowest price option, focusing solely on immediate cost reduction can often lead to compromises in quality, reliability, and overall value. Instead, consider the entire lifecycle cost of a product or service, including maintenance, support, and potential risks. Take into account factors such as supplier reputation, product durability, warranty terms, and the total cost of ownership. A higher upfront investment in a reliable and superior product or service can lead to significant savings in the long run by minimizing downtime, reducing maintenance costs, and enhancing overall productivity. Additionally, establishing strong relationships with suppliers can provide you with leverage when negotiating favorable terms and conditions. Building strategic partnerships based on trust and collaboration can result in improved pricing, better service, and access to innovative solutions. Don't hesitate to engage suppliers in open discussions about your organization's goals and challenges, as their expertise and insights can contribute to better decision-making. By adopting a long-term value perspective and fostering strong supplier relationships, you can optimize your procurement process, mitigate risks, and drive sustainable growth for your organization. #collaboration #procurement #productivity #sustainable #investment #maintenance #partnerships #building