EdgeworthBox Launches Platform to Enable Rapid, Inexpensive, Risk-Free Digital Transformation of Procurement
SMALL AND MEDIUM BUSINESSES NOW HAVE A RAPID, INEXPENSIVE AND RISK-FREE OPTION FOR TRANSFORMING PROCUREMENT DIGITALLY WITH EDGEWORTHBOX New York, NY | September 9, 2021 – EdgeworthBox announces the launch of its cloud-based strategic sourcing platform focused on small and medium businesses (including the divisions of larger organizations). With EdgeworthBox, companies can transform their procurement […]
Why Use Templates in Procurement?
The best way to improve acquisition performance is to make it easier for suppliers to give buyers what they want.
How Do You Write a Good RFP?
How do you write a good RFP? A good RFP event is one in which you get a sufficient number of relevant responses to generate competition. You receive enough submissions so that the marginal benefit of the incremental proposal is equal to the marginal cost of evaluating it, as an economist might say. It attracts competition on price and solution from the most relevant vendors.
How Do We Reduce Complexity in Procurement?
Procurement in the contemporary context is both complicated and complex. Most companies have evolved complicated bureaucracies around procurement, requiring systems to implement the rules, with administrative organizations to enforce them.
This is done ostensibly for the purpose of obtaining value-for-money. Another key purpose is risk management: protecting the organization against fraud, waste, and abuse.
How Should Organizations Manage the Decentralization of Procurement?
Culture is defined as the substance behind the statement, “People like us do things like this.” In a world competing for talent, trust is key. Can we trust the people within the organization to do the right thing? If not, perhaps they shouldn’t be working here.
How Many Sourcing Systems Should Buyers Employ?
Sourcing systems come in several different types:
Should Buyers or Suppliers Pay for Procurement?
More buyers than one might think use a piece of legacy software or some combination of email and spreadsheets to manage their procurement activities. In these cases, the buyer bears the cost.
What Is Next for Digital Procurement?
Digital procurement promises that it will rescue us from the tedious bureaucracy, the pre-occupation with cost over risk-adjusted value, distortions stemming from the pro forma attempts at gaming the compliance regime, and the adversarial relationship between buyers and suppliers.
Is Problem-Solution Fit More Important than Cost in Procurement?
Companies buy goods and services to solve problems.
Procurement Needs to Have Skin in the Game
Buyers who treated their suppliers as vassals who would (and presumably should) do anything for “the business” suffered disproportionately during the Covid supply chain shock of 2020.