How transparency builds trust in procurement

*Revisiting the Relevance of Your Procurement Policy* Every structured organization maintains a procurement policy — but the true measure lies in its flexibility, implementation, and periodic review. An effective procurement policy should not remain a static document; it must evolve in line with business realities, regulatory shifts, and market dynamics. Key reflection points for every procurement leader: 🔹 How flexible is your policy in supporting strategic sourcing decisions? 🔹 Is it being implemented across all procurement activities? 🔹 When was it last reviewed or updated to reflect operational and market changes? A well-crafted procurement policy serves as a critical enabler for operational excellence — driving compliance, value creation, and sustainable business outcomes. #ProcurementPolicy #SustainableProcurement #PolicyCompliance #InternalControl #OperationalExcellence

Trust is everything in procurement. Here are five steps to building partnerships that ensure smooth communication, quality assurance and long-term success. https://lnkd.in/eN3s8A4n #Procurement #SupplyChain #Success #Quality #ProductDevelopment

How to Negotiate a Historic Contract in Procurement Negotiating a historic or long-term contract requires a balance of respect, data, and strategy. Here’s how you can approach it: 1️⃣ Understand the History: Study past terms, supplier relationships, and pain points. Know what worked — and what didn’t. 2️⃣ Bring Data to the Table: Use market trends, price indexes, and cost breakdowns to justify your position with facts, not opinions. 3️⃣ Build Trust, Not Tension: Historic contracts often involve long relationships. Focus on partnership and shared value rather than hard bargaining. 4️⃣ Align on Future Goals: Negotiate for flexibility — price adjustments, innovation clauses, or performance incentives that benefit both sides. 5️⃣ Document Everything Clearly: A transparent and detailed contract avoids future conflicts and builds credibility. 💬 Negotiation isn’t about winning; it’s about creating lasting value. #Procurement #ContractManagement #NegotiationSkills #SupplyChain

Research by Deloitte shows that companies with strong procurement practices can reduce total supply chain costs by 10–15%. From my own experience, I’ve noticed the biggest wins don’t always come from negotiating harder… but from: • Choosing suppliers with consistent quality • Looking at total cost of ownership (not just price) • Building long-term partnerships instead of one-off deals 💡 My takeaway: procurement isn’t just about saving money — it’s about building resilience. 👉 What do you think is the most overlooked factor in supplier selection? #Procurement #SupplyChain #CostOptimization #SupplierManagement https://lnkd.in/d2cpeFeu

Supplier Evaluation Frameworks: Insights from Leading Researchers When it comes to assessing supplier performance, cost is just the beginning. Scholars and procurement experts have developed frameworks that guide organizations toward smarter sourcing and stronger partnerships. 🔹 Lysons & Farrington (2012) emphasize financial strength, capacity, and supply chain management. 🔹 Monczka et al. (2011) focus on cost, quality, technology capability, and sustainability. 🔹 Carter’s 10 Cs highlight competency, commitment to quality, and corporate responsibility. Together, these frameworks provide a comprehensive view of what makes a supplier truly reliable and strategic. #SupplierEvaluation #Procurement #SupplyChain #BusinessStrategy #SourcingExcellence #Carter10Cs #LysonsAndFarrington #MonczkaEtAl

Here are 5 practical steps businesses can take to move from policy to impact: ~ Map Your Supply Chain Understand who your suppliers are—not just Tier 1, but beyond. Transparency is the foundation of accountability. ~ Build in Due Diligence Use robust human rights due diligence processes when onboarding or renewing suppliers. Go beyond checkboxes—look for red flags in labour practices, sourcing, and subcontracting. ~ Engage, Don’t Just Audit Audits alone aren’t enough. Open dialogue and supplier development programs build trust and drive lasting change. ~ Contract With Care Make human rights expectations legally binding in supplier contracts—with clear consequences for non-compliance. ~ Empower Your Teams Procurement teams need training to spot risks and make ethical decisions in real time. It’s not just policy—it’s people. At Procure4, we help organisations embed ethical practices into procurement strategy, without compromising commercial value. #ESG

Procurement credibility comes from understanding the business beyond suppliers and contracts. When you can see the value, risk, and opportunity like a business leader does, services procurement becomes a true strategic enabler. #ServicesProcurement #Procurement #StatementOfWork #SOW #ServicesProcurementSystem Lawrence Kane, COP-GOV, CSP, CSMP, CIAP Jonny Dunning

Feeling the pressure to secure procurement deals quickly? Rapid negotiations can save time and costs but require sharp strategies in order not to break those critical supplier relationships. Our latest blog shares expert tips to expedite supplier talks without sacrificing value or long term integrity. What You’ll Learn: Cost Efficiency: Lock in savings under tight deadlines. Negotiation Tactics: Streamline talks with confidence. Process Speed: Close deals faster, smarter. Read more: https://hubs.la/Q03lX5Xc0 #Procurement #Negotiation #CostSavings CostBits CostAdvisory

Feeling the pressure to secure procurement deals quickly? Rapid negotiations can save time and costs but require sharp strategies in order not to break those critical supplier relationships. Our latest blog shares expert tips to expedite supplier talks without sacrificing value or long term integrity. What You’ll Learn: Cost Efficiency: Lock in savings under tight deadlines. Negotiation Tactics: Streamline talks with confidence. Process Speed: Close deals faster, smarter. Read more: https://hubs.la/Q03lX5Sw0 #Procurement #Negotiation #CostSavings CostBits CostAdvisory

What Makes a Procurement Partner Reliable? Not all procurement partners are created equal. A reliable partner isn’t just about sourcing products, it’s about communication, accountability, and problem-solving when things don’t go as planned. When timelines are tight, you need someone who answers the phone, acts quickly, and follows through. Reliability also comes from transparency. Clear quotes, realistic delivery expectations, and upfront communication make all the difference. Businesses that choose partners who prioritise these qualities avoid costly surprises and keep operations running smoothly.