Global Leaders in Procurement & Negotiations (PSCMInstitute.com)

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The 3 Procurement Contract Deadly Sins – Part 2

If you missed Part 1 of this series, go here: https://pscminstitute.com/the-3-procurement-contract-deadly-sins-part-1/ Procurement pros in my experience tend to not like 2 things, pretty consistently:  cost models and contracts. They would prefer that finance leads cost modeling efforts and legal leads contract negotiation efforts – the remaining Ts and Cs after price, warranty, inventory model, leadtime,

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Procurement and Their Customers – The Big Fallacy

I just finished reading a Big 4 consulting report on Procurement Organization Performance, based on surveys from a range of Chief Procurement Officers in different industries and countries. One of the 6 drivers used to measure Procurement department success was “Customer Satisfaction”.  “Customer” was defined as the people inside of the business units who were

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Procurement’s Fatal Flaw is Confusing Negotiation with Influence

Let me be bold and pull no punches: The procurement function has possibly the least experience with driving influence of any major organizational function in large companies.  And you may find this counterintuitive, thinking “but all we do is negotiate huge high stakes deals, more than any other function, so how can this be true?”

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Negotiating with Rainmakers

There’s an existential crisis in procurement.  One we never talk about. The crisis is this: companies invest probably 10,000 times more in the sales function than they do in the procurement function. And procurement is negotiating with sales. If you pay really close attention, your sales negotiation counterparts, when coming from a company of similar size, will

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