Coach Humera S.N.Shah’s Post

Hot-take: Procurement professionals deserve bonuses too!💰 As a procurement professional, I've always found it interesting to see the bonus difference between sales and procurement. 👀 Should we be receiving bonuses too? 👇 #Procurement #Sales #Bonus

A measured saving shall be considered as A winning deal!

Achieving a -8% reduction in procurement spend can rival a +30% sales boost! But it's not just about cutting back on equipment hires. Efficient procurement influences project efficiency, deadlines, and budgets. Selecting the right supplier is vital for success. Learn more from Dani Hodges in 'Keeping down off-hire costs: how to maximize your procurement efficiency' at: https://okt.to/1QbPiq #Procurement #procurementleaders #efficiency #supplychainmanagement

📂 Great article detailing the biggest differences between procurement and government procurement. Many would think they are identical with slight differences in how contracting and funding occurs. My biggest take is the peculiar difference between Point # 2: Supplier Identification for private sector procurement vs. Solicitation of Bids on the government side. Shouldn’t government always take the lead and “identify suppliers” ahead of time with the idea to solicit in a fair and transparent manner? Or should government refrain from any interactions before the solicitation process as it may be portrayed as tainting the selection? 🚨

"The 7 Stages of Procurement: A Step-by-Step Guide":- Effective procurement is crucial for businesses to acquire the goods, services, and solutions they need to operate efficiently. But do you know the stages involved in the procurement process? Here are the 7 stages of procurement: 1. *Need Recognition*: Identifying a need for a product or service. 2. *Specification Development*: Defining the requirements and specifications. 3. *Supplier Research*: Finding and evaluating potential suppliers. 4. *Request for Proposal (RFP)*: Issuing a formal request for proposals. 5. *Evaluation and Selection*: Assessing proposals and choosing a supplier. 6. *Contract Negotiation*: Finalizing terms and conditions. 7. *Order Placement and Management*: Placing orders and managing the relationship. Understanding these stages can help you streamline your procurement process, reduce costs, and improve efficiency. Share your thoughts! What are some best practices you've implemented in your procurement process? #Procurement #SupplyChain #Sourcing #Purchasing #BusinessOperations #Efficiency #Productivity #hr #vacancy #recruitment #job #purchase

Dear Bidders, Did you know one of the biggest reasons why so many people lose out on contract opportunities?   It is how to engage and communicate with procurement officers effectively.   One of the basic things you can do to improve your situation is to understand what we call contract vehicles. They are simply procurement methods that facilitate the purchase of goods and services by providing a framework. Contract vehicles are just like different routes to get to your desired destination.   You see, in government contracts, you cannot just close a deal using a handshake or word of mouth.   Government agencies use these specific contract vehicles to simplify the procurement process. Get a better understanding of the contract vehicles available to you today so you don't let opportunities slip you by like that. 👉 https://bit.ly/3Gp4oTK

As we approach the end of a remarkable year, I want to take a moment to celebrate the unsung heroes of businesses – the Procurement/Contracts Professionals! You survived another year of hearing: "Can you please review the contract before we sign it?" Which translates to: -We want to use you as a tick box -We don't understand the difference between Procurement/Contracts and Legal. -We hope you possess magical powers to fix the mess we made without involving you in the first place. You survived another year of: "We have it already delivered; can you do the paperwork?" Which translates to: -We've bypassed all the standard procedures and now it's your problem to fix. -We needed it urgently, so we thought we contact the supplier directly and have it delivered. -We know this supplier has it in stock, and we are not open to exploring other potential options. You survived all of this with calmness and humility, and you continued to do the right thing. Remember, your work forms the backbone of organizational success. Your meticulousness ensures that businesses thrive in a world that constantly evolves. Here's to a fantastic 2024 filled with exciting opportunities, professional growth, and the continued elevation of the contracts profession! #procurement #contracts #supplychain #heroes

Tips for the procurement process procurement means obtaining all of the materials, services, and supplies required to complete the project. there are five steps in the typical procurement process: 1.Initiating: planning what you need to meet your project goals 2.Selecting: deciding which suppliers and vendors to use 3.Contract writing: developing, reviewing, and signing contracts 4.Controlling: making payments and maintaining and ensuring quality 5.Completing: measuring your success Tips for initiating  While planning your project, figure out which materials, resources, and supplies you will need to get the job done. you will decide which items will be internally procured and which items will be externally outsourced. compare each of those items specifications, components, quality measurements, standards, and characteristics with your project’s requirements. Tips for selecting  Now you need to determine vendors to source these items, and try to find out if your preferred vendors have a reputation for delivering quality work on time. After you’ve identified them, interview them to learn more about their products and services. make site visits to see exactly how each vendor runs their business in person. Tips for contract writing Contract writing requires excellent attention to detail, so pay close attention to the inclusions and exclusions in the vendor’s offer. There may be some items included in the vendor’s price that you can provide in-house at low or no additional cost. For example, the vendor’s offer may include charges for storing materials, using certain equipment, or labor. so you can opt to save costs with the vendor on those items by using in-house materials and resources. Tips for controlling The next step is to ensure that the work is being done according to the terms of the contract. You will need to periodically review the performance and quality of each vendor. When communicating with vendors, remain professional but firm to ensure that all project requirements are being fulfilled and that all major milestones are being met on time and at cost.  Building and maintaining a good relationship with your vendors benefits the team and the overall project. Taking certain measures, like conducting regular check-in meetings, will ensure that the work is being completed according to plan.  Tips for completing In the completing step of the procurement process, you will measure the success of your procurements. good quality?  issues with labor contracts?  relationships with vendors?  During this step, it is also important to document any lessons learned. #procurement #supplychain #sourcing #engineering #business #purchasing #logistics #b #construction #shipping #hotelprocurement #manufacturing #hospitalitysupplies #supplychainmanagement #pengadaan #foodservice #marketplace #osande #ffande #bmarketplace #hotelsupplies #foodserviceequipment #technolo

Unfortunately quite some companies like savings but do not make them visible internally like they do with sales deals. Savings have an impact on Ebitda and are important for the growth so that is already a reason to make it more visible and transparent. Savings should never be a strategy but I do agree that savings should be brought much more to the surface even if it is solely to acknowledge the added value of procurement and the knowledge of the buyer within the organization. Still too much is procurement viewed as an administrative function instead of a strategic part of deciding/influencing on how to spend corporate money.

If sales get commission on deals... 💰 Should procurement get commission on savings..... 💲 Would this add some balance to negotiations... 🤝 Or just create a concept of cheapest deal is the best deal... 💸 Thoughts? #procurement #sales #negotiation