Procurement Blogs

BLOGS

Positioning Procurement Department

Submitted by : Kushal Nagaraj, JC Penney Services India Pvt Ltd

Most important for a growing organization is how they position the Procurement / Sourcing department. Is your executive committee involving the procurement department as part of demand planning process or the annual operating plan (AOP)? Is the procurement department enabled with information on the company’s strategy for the next 3 years or 5...

Procurement is Know-How to Deliver Savings and Additional Value

Submitted by : www.procurement.org

The mistakes often belong to one or several of the following areas: a) structure of Procurement (on global level, category, etc), b) people management (roles and responsibilities, duplication of functions), c) matrix connectivity (influence and communications of Procurement with other functions), d) business processes (lack of agility and...

World Bank pushes for Open Tender System

Submitted by : Namini Wijedasa, The Sunday Times

A World Bank governance expert warns that the absence of open tendering for contracts is a cause for concern in any country. “Open tendering is extremely important,” stressed Felipe Goya, the Bank’s Governance Practice Manager for South Asia. “When you don’t see open tendering in a given country or society, it always raises a red flag....

Buying the Cheapest, the Biggest Myth about Procurement

Submitted by : www.procurement.org

It is saddening how some organizations still think the only idea of Procurement is to buy the cheapest. This leads to numerous erroneous opinions about Procurement function and profession in general. Because of this very myth, other departments within organizations try to avoid Procurement department while making strategic decisions. Consequently,...

Imminent! Transformation of the World Bank’s Procurement Framework

Submitted by : Robert Hunja, Director, Public Integrity and Openness, The World Bank

In keeping with recent global trends in the procurement arena, the World Bank is transforming and modernizing its procurement framework. In the private sector, companies have long viewed maximizing of supply chains as key to healthier bottom lines. In the public sector, many governments have been moving from overly rule-based procurement...

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...