“A well trained procurement organization can add major dollars to the organization through cost savings.”
Margaret Neale: Negotiation – Getting What You Want. Get a good deal. Negotiation is everywhere. We negotiate with suppliers, customers, coworkers, employers, service providers, and even our families. Yet many […]
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Deming’s 14 Points on Total Quality Management – TQM. W. Edwards Deming was an American statistician and management consultant who is known for his work on quality management and statistical
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Supplier Management P&G. Procter & Gamble (P&G) is a multinational consumer goods company that uses a robust supplier management system to ensure that it is able to source the materials
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Outsourcing Advantages and Disadvantages. Outsourcing is the practice of hiring a third party to perform a business function or service instead of performing it in-house. Outsourcing can be an effective
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Bullwhip Effect and Beer Game. The bullwhip effect is a phenomenon that occurs in supply chains when small changes in demand at the retail level lead to larger and more
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COST MANAGEMENT. Cost Management – analyzing the costs of purchased goods in order to develop strategies to lower costs while improving supplier relationships. The following table is from a paper
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Strategic Cost Management. Strategic cost management is the process of aligning an organization’s cost management activities with its overall business strategy. It involves identifying the costs that are necessary to
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Calculating EOQ – Economic Order Quantity. There are several methods for calculating Economic Order Quantity (EOQ), including the basic EOQ formula, the EOQ with backordering, and the EOQ with quantity
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