Through multiple procurement projects, we have participated in hundreds of negotiation meetings with suppliers, providing us valuable insight on how to ensure a successful negotiation. In this article, we share six practical tips on how to secure sustainable, long-term results from a negotiation.
Bundling is an important commercial lever to reduce procurement costs. In short, bundling refers to securing standardized contract terms with the same supplier across the business, or consolidating spend with one or fewer suppliers than the status quo.
The procurement profession is characterized by many different concepts and terminologies. Strategic procurement is one such term. Our experience indicates that there are some questions about what strategic procurement is and how this can help create value.