BLOGS
How To Reduce Fear of Discretion in Public Procurement
Submitted by : Devesh C. Mishra and Belita Manka
Lessons Learnt from Procurement and Contracts Management of Large and Complex Contracts Financed by Multilateral Development Banks (MDBs): A Procurement Practitioner’s Perspective. This paper seeks to analyze the impact of fear of discretion in procurement and contracts management of large and complex contracts in MDB financed projects. “Fear...
Nobel Prize For Behavioural Economics & Problems In Project Procurement
Submitted by : Dr. Ajit Patwardhan, Consultant, The World Bank
This year, the Nobel Prize for Economics, has been awarded to Prof. Richard Thaler of Chicago University, for his contribution to Behavioural Economics. In the press statement, the Royal Swedish Academy of Sciences described his contribution as under: “Thaler has incorporated psychologically realistic assumptions into analyses of economics...
Artificial Intelligence (AI) & Its Impact on Procurement
Submitted by : Linda Ashok
McKinsey & Company recently surveyed 3,000 global C-level executives and figured that investment in Artificial Investment is growing by leaps and bounds. This growth led by technology giants such as Google and Baidu, also includes many automotive and financial services companies of global...
How Procurement Automation Can Help in Procurement Transformation?
Submitted by : Malvi Goyal
Decisions taken by a procurement department of an organization are of prime importance as they can significantly impact the costs savings. To deliver continuous cost savings and increase process efficiency, procurement professionals are now looking at automating steps of a procurement cycle. Although procurement automation seems like a viable...
Unlocking The Full Potential Of Procurement Through Integration
Submitted by : Sanjeevani Kumar
Integration can no longer be a peripheral factor for companies to decide the procurement solution they opt for, it is vital for an efficient and top performing procurement function. Procurement’s rising stature and increased docket of responsibilities means that it cannot function in silos, and needs seamless integration and interfacing with...
Efficient Procurement Measures for Effective Cost Benchmarking
Submitted by : Linda Ashok
If you are given a role-play, would you represent Y or X? I would certainly enact X’s role who unlike Y, is more sure of what exactly made an impact for her company, which is automation that led to a huge cost difference. I’m happy when my organization makes is able to achieve an impressive savings outcome. Here, Y knows at his heart that...
Procurement Lessons From The Fifa 2018 World Cup
Submitted by : Swetalina Routray
The recently concluded FIFA World Cup 2018 – had France crowned as 2nd time victors, after defeating Croatia in the finals. While France was one of the pre-tournament favorites, Croatia’s run was an unexpected fairytale. Here are some key takeaways for procurement & sourcing professionals from the soccer...
Digital Procurement Practice: A Look at the Bottom of the Iceberg
Submitted by : Linda Ashok
The Global CPO Survey 2018 participated by 500 procurement leaders of businesses worth $5.5 trillion across 39 countries has some interesting insights into procurement across various industries and verticals. In this article, we study the cues drawn from the research that hints toward digitization of...