The procurement process is composed of symbiotic moving parts. When components don’t communicate efficiently, breaks in the supply chain occur, causing costly errors, lost time and missed ...

Getting the right materials at the right time and price is incredibly important for any successful business. Material procurement affects everything from product quality to company profits. Smart ...

When you fill out Purchasing Decision Documentation, you will be asked a series of questions that must be answered regarding the type of purchase and process used for making your supplier selection.

Bid protests against a procurement process often center around claims of bias that result in flawed selection decisions. For example, the Government Accountability Office (GAO) put out a report in ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Small businesses use a purchasing department to obtain economic resources for their production processes. Purchasing is also responsible to acquire production assets, business equipment, facilities ...

The past year’s economic volatility forced business leaders to shift strategies and reduce spending while simultaneously seeking new paths to profitability. In particular, according to a Gartner ...

Most procurement professionals during challenging times would file the procurement procedure book in the round file cabinet and resort to a more “hand-to-mouth” strategy, but your procurement process ...

Caroline Banton has 6+ years of experience as a writer of business and finance articles. She also writes biographies for Story Terrace. Amilcar has 10 years of FinTech, blockchain, and crypto startup ...

The car has no seatbelts, no brake pedal and, on closer inspection, no brakes of any kind. Do you listen to the salesperson drone on about how powerful the engine is, or do you buy a different car?