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.

January 2, 2013 – 1,863 views
Buyers' Training
Whenever you are signing a contract for any project, the most vital parameter is the money involved. Unless the financing is stable and sound, the contract often falls through. An important provision in a contract is the escalation clause. An escalation clause is one of the most beneficial, yet vital parts of any contract. It is important in almost all industrial sectors. You can benefit from it as a purchaser in various fields. Are you wondering how? Read on to know more about it... Full Story 
December 17, 2012 – 1,560 views
Buyers' Training
Right now, employees are looking for ways to undermine your corporate purchasing and billing programs. Right now, someone is trying to find a loophole that will allow them to siphon off corporate funds for personal gain. Be it through theft or through blatant cronyism, right now, your purchase program is vulnerable to abuse. Without proper audits and regular review processes, these individuals can steal thousands of dollars from your organization... Full Story 
December 5, 2012 – 1,737 views
Buyers' Training
An escalation clause is a device used in contracts to provide for situations where costs rise. In purchase contracts, both the seller and buyer anticipate that the cost of the product may increase in the future. The escalation clause provides a means of dealing with that potential rise in cost. Both parties are seeking protection and a properly drafted escalation clause can meet the needs of buyers and sellers... Full Story 
November 29, 2012 – 1,416 views
Buyers' Training
Many reasons or requirements may necessitate the creation of complex spending categories for the purpose of purchasing. A large company or government agency may have many smaller divisions such as bureaus that are divided into departments, departments that are divided into agencies, agencies that are divided into offices, etc. Large businesses may be divided into national, regional and local administrative centers. Job costs and project funding are also reasons individual items purchased must be assigned to one particular area of activity... Full Story 
November 19, 2012 – 1,383 views
Stephen C Carter
Procurement professionals know how important it is to have an appropriate and agreed strategy for how they will go to market to meet the needs of their organization. This is particularly true when there is a risk of long-term scarcity of the purchased item or when you need to make a breakthrough cost reduction. However, not all purchases warrant the investment of time and effort needed to develop a bespoke strategy. Some form of prioritization is needed. One common way to do this is to... Full Story 
November 7, 2012 – 1,299 views
Buyers' Training
Every business must uphold a budget to be successful. Get carried away on purchasing products, equipment, or supplies and you could go over budget and cause havoc in all areas of your operation. To be successful, it is crucial that you develop an effective purchasing plan for your business. But, where do you start? Full Story 
October 22, 2012 – 1,470 views
Buyers' Training
Lowering inventory and warehouse management costs is critical to increasing a company’s profit on sales, lowering its financing costs and improving its bottom line. Today’s enterprises are constantly trying to reduce their costs of managing inventory. So what are some of the most important purchasing metrics companies should track?... Full Story 
October 10, 2012 – 1,968 views
Buyers' Training
Every procurement professional understands that they are tasked with reducing the company’s costs to warehouse, manage and finance inventory. It requires the ability to manage vendor relationships and to ensure that the terms and conditions negotiated on contracts protect the company’s and the vendor’s interests. For some, it’s about having a broad vendor base, one that is constantly able to meet the demands of the company’s inventory. For others, it’s about reducing the vendor base and relying upon the best available suppliers to help reduce the company’s costs to warehouse and manage inventory. Regardless of which doctrine your company adopts, it must have some well-defined terms and conditions within its contracts and long-term agreements... Full Story