How Should You Rate and Then Weight Your Suppliers’ Proposals to Get the Best Value?
Evaluating supplier proposals involves a methodical approach to ensure optimal decision-making. Here's a step-by-step guide to effectively rate and weight supplier proposals to derive the best value: 1. Establish Evaluation Criteria Identify key factors such as cost,...
Supplier Evaluations, Comparisons or Negotiations: Which is Better?
When managing supplier relationships, businesses must choose strategies that align with their goals. Supplier evaluations, comparisons, and negotiations are key approaches, each with unique advantages depending on the situation. 1. Supplier Evaluations This is a...
Business Results Compared to Sports Scores
Personal Record vs Team Performance I was fortunate today that I was there to witness Brisbane Bullets Import James Bateman set a new NBL personal scoring record of 51 points. Happily, it came with a Win for the Bullets team vs Perth Wildcats, but it got me thinking...
Changing from Poacher to Gamekeeper with Tenders
I invested decades in mastering and then teaching others how to ‘shape the buying decisions’ of the companies that my clients were selling their products and services to. I had a highly successful program I delivered called ‘The Criteria Process’ which was essentially...
The Benefits of a New Owner Reviewing ALL Existing Suppliers as Part of Due Diligence
As part of acquiring a business, reviewing existing suppliers is crucial to ensure they align with your strategic goals, quality standards, and financial expectations. This evaluation allows the new ownership to identify and address any inefficiencies or risks...
Why Reviewing Your Suppliers Pre-Sale Makes Solid Commercial Sense
In today’s competitive market, assessing suppliers pre-sale has become an essential step in appropriate due diligence and building strong, resilient supply chains for post-sale. A thorough pre-sale review allows businesses to understand potential suppliers’...
The Benefits of Using Tendering for Purchasing Non-Inventory, Off-Contract and Non-Core Goods and Services
Non-inventory, off-contract, and non-core purchasing can greatly benefit from being tendered out through a structured procurement process. Here are some key advantages: Sneaking Under the Radar: When times are good, the purchasing of all these accumulates to form a...
You Have to Kiss a Lot of Frogs
There's an old saying: "You have to kiss a lot of frogs before you find your prince." Recently, I've encountered my share of "frogs" (and a few "princes"), which reminded me of this phrase. In business, one of the biggest challenges is maximising productivity and...
