Need for measuring supplier performance
Price-based metrics The most fundamental aspect of assuring value is making sure that the supplier hits your price requirements. These can be gleaned through simple interactions as well as formal […]
Vendor Development
1. Identify critical commodities for development: This is a portfolio analysis which states that not all organisation required to go for vendor development which are already using sourcing facilities from […]
Vendor Selection
The first step towards selecting an Indian vendor is to analyze your business requirements. After the task of searching and selecting a prospective Indian vendor, you must develop a contract […]
Vendor Rating
Vendor Rating (also called: supplier rating) is a system used by buying organizations or industry analysts to record, analyze, rank and report the performance of a supplier in terms of […]
Sourcing vs. Procurement
Procurement Procurement is the full process of sourcing and then using suppliers to gather all the materials you need for your products, services, and indirect costs. It involves placing orders […]
Sourcing Activities
Steps The steps in a strategic sourcing process were defined, in 1994, as: Assessment of a company’s current spending (what is bought, where, at what prices?). Assessment of the supply […]
Risks to considered by purchasing Manager
Poor Internal Needs Analysis When a department or business unit identifies the need for a product or service, it kicks off the procurement process. The risks here are somewhat obvious: […]
Purchasing Cycle
For companies of all sizes, from local small businesses to global Megacorps, the purchasing cycle begins with needs analysis and ends with payment and record keeping. In between, they may […]
Introduction to Sourcing
Sourcing, also known as procurement, is the practice of locating and selecting businesses or individuals based on set criteria. Sourcing is carried out in business in many different areas and […]
Characteristics of a Purchasing Manager
(1) Knowledge of various materials: The material manager should have adequate knowledge of materials and tools in addition to technical knowledge of engineering. He should be well conversant with the […]
Marketing Analytics: Meaning and Characteristics
Marketing analytics is the practice of measuring, managing and analyzing marketing performance to maximize its effectiveness and optimize return on investment (ROI). Understanding marketing analytics allows marketers to be more […]
Market Data Sources (Primary and Secondary)
Primary Market Research Primary research is research that is conducted by you, or someone you pay to do original research on your behalf. In the case of primary research, you […]
The New Realities of Marketing Decision Making Market Sizing: Data Sources
Every business has a market. From businesses like Amazon, whose audience could be anyone, to niche businesses selling specialized, custom products, knowing your market is essential to establishing a successful […]
Stakeholders
A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. The primary stakeholders in a typical corporation are […]
Application and Approaches (Top-Down and Bottom-Up)
Top-Down Top-down analysis generally refers to using comprehensive factors as a basis for decision making. The top-down approach will seek to identify the big picture and all of its components. […]
Estimating Demand Curves: Estimating Linear and Power Demand Curves
Demand curve estimation refers to the exercise of estimating the demand curve, typically the market demand curve (as opposed to the individual demand curve) for a good. Demand curve estimation […]
