Procurement is not just about purchasing goods and services. At its heart, the role of a procurement professional is about making sure operations continue as smoothly as possible all year round. This means establishing requirements, researching the market and evaluating vendors, as well as negotiating contracts and managing risk.What does this mean aside from significant responsibility? It creates a myriad of ways that procurement professionals can actively add value to their business. Show Colleagues and business leaders outside procurement are not always aware of the daily activities that the function carries out, or the corporate priorities it can support. This often means that there are a number of lost opportunities that could help increase efficiency and productivity. Here are five things procurement professionals can do to drive growth and innovation. 1. Cut costs Through sourcing the right suppliers, procurement staff actively help reduce their company’s outgoing costs and operational risks. However, finding reliable data and insight on potential suppliers – so that you can get an accurate understanding of the risks and opportunities involved – is often costly and time-consuming. Our communities help reduce these costs by giving buyers up-to-date supplier data for buying organisations. How does the Achilles community model work? 2. Drive innovation By choosing suppliers that add value and drive innovation, procurement teams can actively place their company in a more competitive position. Promote the kind of changes that you want to see by choosing suppliers that use the latest equipment, technology and processes. Read more about our pre-qualification questionnaire for suppliers. 3. Utilise good data You will find this difficult if you have a mountain of complex, poorly verified data. It may seem like you spend all day crunching the numbers without learning anything about how your supply chain actually operates. We help our communities build a complete picture of supplier operations and risk exposure, not just by providing data but validating it too. This ensures everyone in a supply chain has the best foundation to base their decision making on. 4. Drive growth in new markets By creating a central hub of information, our communities help buyers to make informed decisions about suppliers, wherever they are located. 5. Help with CSR compliance For this reason, a detailed pre-qualification process is imperative for procurement professionals. It’s not just about asking questions but also conducting audits where necessary. Obtaining and validating supplier information using an effective approach facilitates better and more agile decision making. Our communities create collaborative relationships between buyers and suppliers. Parties work together to drive improvements in supplier performance and compliance with CSR policies, including those relating to sustainability, health and safety and the environment. ← Resources Get great insights in your inbox every monthFirst Name* Last Name* Email* What are the 4 types of contracts?4 Types of Construction Contracts. Lump-Sum Contracts.. Cost-Plus-Fee Contracts.. Guaranteed Maximum Price Contracts.. Unit-Price Contracts.. What are 3 types of contracts?The three most common contract types include: Fixed-price contracts. Cost-plus contracts. Time and materials contracts.
What contract types shall be used for the acquisition of commercial products or commercial services?(a) Except as provided in paragraph (b) of this section, agencies shall use firm-fixed-price contracts or fixed-price contracts with economic price adjustment for the acquisition of commercial products or commercial services.
What are the types of procurement contracts?The main types of procurement contracts include: Fixed price contracts. Cost-reimbursable contracts. Time-and-materials contracts.
|