Articles for Buyers

These Purchasing articles will give you the news and information you need to stay up to date in the ever changing Purchasing industry.

August 16, 2013 – 1,818 views
Buyers' Training
An RFP, or Request for Proposal, has come to be a vital part in the business of big conglomerates. Essentially designed to help you select an external workforce to either complete a certain project or purchase a piece of equipment and let your requirements be known public in order to receive competitive prices and quotations... Full Story 
August 7, 2013 – 3,257 views
Buyers' Training
Purchasing plays an important role in the operational functioning of any business. Purchasing is required by businesses to acquire raw materials, equipments, and stock to assemble or manufacture their products. Businesses need to have a good purchasing plan so as to minimize costs and maximize efficiency... Full Story 
July 19, 2013 – 1,808 views
Buyers' Training
In order to save cash, workforce, and time for important processes in a company, companies choose to outsource processes such as accounting and marketing. The company can then focus on major aspects of their business. Getting certain processes of the business done by a third party is referred to as outsourcing or contracting out... Full Story 
July 16, 2013 – 894 views
Buyers' Training
RFPs (Request for Proposal) and RFQs (Request for Quotation) are documents that a business sends its vendors in order to get information from them about their products and\or services being offered that the business shows interest in purchasing. The information acquired via RFPs and RFQs are ordered, structured, easily comparable, and contain relevant information regarding the process of deciding on the correct vendor according to the needs and conveniences of the business... Full Story 
June 20, 2013 – 953 views
Buyers' Training
When a contract includes a provision to adjust prices in the occasion of fluctuation in certain costs, it is known as an escalation clause. This clause is also known as “rise and fall” and it allows your offer price to automatically rise by a particular amount in case another offer or bid is given that is more than the one given by you... Full Story 
June 12, 2013 – 856 views
Buyers' Training
Different industries will require different types of equipment ranging in size from big to small. While the smaller pieces of equipment are easy to purchase on a modest budget, the bigger (and usually more vital) pieces of equipment might be harder to purchase as soon as you start your business. As a result, leasing equipment is seen to be a beneficial way of doing business, and not taking as much of a hit on the profit margin that purchasing would definitely cause. However, there are reasons why purchasing is a better option in the long run. We shall explore some of the benefits and disadvantages ahead... Full Story 
May 17, 2013 – 959 views
Buyers' Training
Renegotiation is one of the ways to make major changes to an outsourcing contract. It requires thorough research, careful strategy planning, and an understanding of your leverage points. Renegotiation of a contract also requires a careful consideration of the changes that needed to be incorporated in the contract... Full Story 
May 8, 2013 – 877 views
Buyers' Training
Social media networking is being widely used for business expansion and marketing. This is a modern marketing tool used by companies to make their products accessible to their customers. Purchasing professionals can make use of social networking sites to conduct product or supplier research, gain knowledge, and expand the professional network. This online method of interaction is better than the traditional methods of interactions. But there are many disadvantages that this networking model can pose. Here are some difficulties that purchase professionals in an organization may face due to social networking... Full Story 

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