Procurement vs. Purchasing: What’s the Difference?

Logistics Bureau

The best way to understand the difference between procurement and purchasing in a business is to consider the process involved in buying a car, says Logistics Bureau’s procurement specialist, Trent Morris. Procurement First, Purchasing Follows. But it’s not only the price.

Maintenance costs up? Your fleet needs smarter parts purchasing

Fleet Owner

Small and mid-sized fleets don’t have the negotiating power of the larger fleets but that doesn’t mean they can’t find ways to reduce parts costs. Here are some tips on where to find savings. Perspectives / IdeaXchange

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Overcoming Black Friday purchasing and warehouse challenges

EazyStock

This year, purchasing teams are also facing continued challenges due to global supply chain and logistics pressures, component shortages, and soaring prices for electricity and fuel. The key is to keep track of your inventory planning and purchasing processes.

How Much Does Hydroseeding Cost? | Pricing Guide

WorkWave

Cost estimates range on average from a meager 8 cents to 26 cents per square foot, making it affordable and a practical quick-growing solution. Several factors influence the hydroseeding prices on your property: land quality, location, and plot size. Costs Associated with Hydroseeding.

Point-of-Danger ICE Raids and Audits

Speaker: Max Muller, Attorney and Author

Supply chain managers should constantly be on guard against forces that could cause a significant point-of-failure in or to their supply chains. The sudden loss of a workforce is an evolving danger to those who provide raw materials, subassemblies, finished goods, and/or necessary services to supply chains; and to entities requiring those items or services. Join Max Muller for this timely, fast-paced and guidance rich webinar that will educate you on the specific steps involved in undertaking your own internal audit, as well as providing you with guidance on what your major and/or sole source suppliers should do as well.

Negotiating Essential Clauses for Purchase Contracts

SIPMM Professional Publications

Contract negotiation does not necessarily equate to getting the cheapest price.It The post Negotiating Essential Clauses for Purchase Contracts appeared first on SIPMM | Singapore Institute of Purchasing and Materials Management.

Purchasing Tips with Trent Morris – What People Get Wrong

Logistics Bureau

They always focus on price. Once you got only comparing “apples to apples”, then you start looking at the price. . Procurement - Purchasing - SRM Purchasing Videos Collaboration compliance cost efficiency price purchasing quality supply chain

Communication still key in truck lease-purchase agreements: TEL exec

The Supply Chain Journal

Sheri Aaberg didn’t waste any time delivering one of her key points in a presentation about lease purchases in a workshop Sunday at the annual meeting of the Truckload Carriers Association in Las Vegas. The title of the session was “Lease Purchasing: An Innovative Playbook.”

Negotiating Techniques for Construction Procurement

SIPMM Professional Publications

As a professional purchaser, negotiation skills will place one at an upper hand. Negotiation is a communication skill whereby the process involves two parties to […].

Key Stages for Purchasing Aerospace Parts

SIPMM Professional Publications

Purchasing is a highly complex hierarchical procedure with targets that reach a long way past the conventional conviction that purchasing essential job is to acquire products and ventures because of inward needs.

Key Provisions to be Negotiated in a Construction Purchase Contract

SIPMM Professional Publications

The post Key Provisions to be Negotiated in a Construction Purchase Contract appeared first on SIPMM INSTITUTE. Construction contracts are complicated documents that try to balance the needs of many different parties involved in a project. Contractors face much uncertainty when delivering on their contract responsibilities, so it is important to design contracts that are fair in allocating risk.

Computer Buyers Curtail Purchases After Pandemic Splurge

Supply Chain Brain

The lull in purchasing has worsened throughout the year as high inflation, rising labor costs and recession fears have triggered a reassessment of procurement budgets

Grocery Giant Lidl Purchasing Container Ships Amid Supply Chain Issues

MTS Logistics

In the midst of supply chain issues, grocery giant Lidl has indicated that it will be purchasing container ships. This caused a shortage of goods in Lidl stores, as well as other retailers who source their goods from Asia.

Watch: Ensuring Excellence in the Post-Purchase Experience

Supply Chain Brain

Joe Marcaurelle, vice president and assistant general manager with Inmar Post-Purchase Solutions, explains how online merchants can use the post-purchase experience to change the returns process from a cost burden to a competitive advantage

How To Save Money With Fuel Purchase Routing

United World Transporation

According to industry experts, fuel purchases can account for approximately 25% of a trucking company’s operating expenses. What is fuel purchase routing? How do you calculate the best fuel purchase route? The cost is $50-100 per month, depending on your business type.

Sourcing Criteria for the Confectionery Industry

SIPMM Professional Publications

Strategic sourcing skills play an important role before any purchase are made in every industry. It includes analyzing high-volume purchases and developing long-term partnerships with a picked group of suppliers, which can provide quality products and services at low costs.

How Digitalization of the Purchase Order (PO) Can Save Time and Money

MTS Logistics

To all procurement and logistics specialists, how many of your daily emails pertain to purchase orders? Numerous details are manually recorded, such as the products needed, quantity of items, descriptions, pricing, payment details, delivery methods and dates. Purchase order date.

Know Your Supply Chain KPIs – Procurement

Logistics Bureau

Competitiveness of Pricing. The price you pay your vendors for their products is a significant factor in your company’s ability to compete in its market. Emergency Purchase Rate. For that reason, the emergency purchase rate KPI is one you should certainly be keeping an eye on.

Are You Considering Purchasing Electric Trucks? There is a Lot to Think About

Logistics Viewpoints

Companies with sustainability initiatives related to reducing greenhouse trucks often consider purchasing electric trucks. But companies need to pay attention to more than the purchase price. The post Are You Considering Purchasing Electric Trucks?

Descartes continues customer-driven acquisition strategy with GreenMile purchase

The Supply Chain Journal

On Tuesday, Descartes ( NASDAQ:DSGX ) announced it has added another strategic acquisition to the list with its purchase of GreenMile, a cloud-based mobile routing solution with a deep customer base in food and beverage including Coca-Cola ( NYSE:KO ), Pepsico Inc.

Green Purchasing Power: Sustainability is Major Factor

Material Handling and Logistics

Suppliers reported emissions reductions of 633 million metric tons of carbon dioxide leading to collective cost savings of $19.3 billion

E-commerce Purchases are Rocketing

Logistics Business Magazine

“Most challenging though is having to qualify internal limitations or present an unattractive price in order to cover the transactional cost to the 3PL. ” The post E-commerce Purchases are Rocketing appeared first on Logistics Business® Magazine.

Weighted Average Cost Inventory Valuation: Is it Right for My eCommerce Business?

Ship Monk

One of the most irksome tasks of owning an eCommerce business is keeping track of inventory—not just the number of units, but their costs. Most importantly, it goes into the formula to calculate the cost of goods sold (COGS) which determines whether or not your business is making a profit.

How Much Does A Lawn Mower Cost? | Pricing Guide

WorkWave

No matter your position, you’ve probably asked, “How much does a lawn mower cost?”. Lawn mower prices vary significantly due to the wide variety available. The cost depends on factors such as the: Type (walk-behind, riding, reel, robot) Power source Brand Accessories.

You need to get the purchasing function right

Fleet Owner

A good benchmark about the health of your procurement process is what your procurement negotiations are based on. If you are solely negotiating on price, you’ve got a problem

Buy vs. Build: Should You Purchase Software or Create Your Own?

Parade

With software, that overrun can be costly, , according to McKinsey. That’s not to say that it doesn’t take time to get to the point where you can use a purchased software in operations; it takes time to implement, integrate, test, and train staff to work with new programs.

California County Purchases Beam Global’s Off-Grid EV Charging System

NGT News

The system was purchased through the California Contract #1-18-61-16, which simplifies the procurement process and ensures best pricing. The post California County Purchases Beam Global’s Off-Grid EV Charging System appeared first on NGT News.

Now or Never: Why Supply Chain Sustainability is Non-Negotiable in 2022

Locus

Source: Statista.com. Transportation was redirected to be used in providing first aid, leading to supply chain bottlenecks, shortages and price hikes. Planning : Processes are designed to reduce emissions and meet demand with ethical sourcing. Ethical sourcing of goods.

Truckload Pricing Dynamics with Jon Payne

The Logistics of Logistics

Jon Payne and Joe Lynch discuss truckload pricing dynamics. Jon is the Director of Pricing Strategy & Analytics at Loadsmart , a freight technology company that is removing the barriers between shippers and carriers so freight can move in the most efficient, transparent and automated way.

CMA CGM Expands Airline Plans with Purchase of Jumbo Jets in a Chaotic Year

MTS Logistics

In a press release published today on its website, the shipping carrier announced that it would purchase two Boeing 777 freight airliners in its bid to expand its presence in the air freight sector.

Cold Chain Summit: Refrigerated carriers adapt to new food purchasing habits

The Supply Chain Journal

The need for long-haul replenishment moves and distribution hasn’t changed from where the food sources are, over time. Descartes continues customer-driven acquisition strategy with GreenMile purchase. This fireside chat recap is from the FreightWaves Cold Chain Summit on Wednesday.

How Much Money Can You Save With Fuel Purchase Routing?

United World Transporation

According to industry experts, fuel purchases can account for approximately 25% of a trucking company’s operating expenses. So, any opportunities to increase fuel efficiency and save money are valued in the industry, and fuel purchase routing is a commonly used strategy by many long-haul truck drivers. What is fuel purchase routing? How do you calculate the best fuel purchase route? The cost is $50-100 per month, depending on your business type.

Learn how Fuel Purchase Routing can save $250 monthly/vehicle

FueLoyal

On average, transportation companies spend 25% or more on fuel purchases. A 1% reduction in fuel costs can result in thousands of dollars in profit annually. Fuel management is set of activities and procedures companies implement in order to optimize fuel usage and reduce costs related to fuel purchasing. But fuel purchase routing works great with existing fuel cards and provides an extra layer of savings. What is Fuel Purchase Routing.

SONAR Indices & Insights: Measure whether shippers or carriers have control of freight pricing with SONAR’s Pricing Power Index

FreightWaves SONAR

This week, learn how freight market participants are able to measure if freight pricing control lays in the hands of freight shippers or freight carriers. What is the DHL Supply Chain Pricing Power Index? The DHL Supply Chain Power Pricing Index (DHLPPI) measures on a score from 0-100.

Purchasing Index Shows Manufacturing Slows to a Nine-Month Low

Material Handling and Logistics

Manufacturing Purchasing Managers’ Index slowed to 54.7 Exports remain the key source of weakness for producers, with foreign orders barely rising in August after two months of modest declines," said Chris Williamson, economist at IHS Markit. Inflation weakened to a six-month low, but prices remained elevated -- above their three-year average. Almost one-in-three went on to cite tariffs as the cause of having to hike prices to customers.”.

Skyrocketing diesel prices affecting US-Mexico import rates

ShipLilly

News from “Borderlands” indicates a significant upsurge in diesel prices, which has impacted current import rates between the US and Mexico. Borderlands is a weekly source of news and analysis of events that affect the cross-border trade between the two neighbors. This week it was revealed that the price of fuel has gone to an all-time high in the US at $5.55 Indeed, the current prices are 51 cents higher than those recorded in April.

Skillfully Managing Manufacturing Reshoring Projects

GlobalTranz

than simple cost comparisons. A reshoring project is not a simple task of comparing costs in the U.S. These “Bring Manufacturing Back” initiatives have many moving parts and require careful planning and execution and very skillful project management. The charter should include considerations of the various stakeholder groups including finance, engineering, manufacturing, purchasing, marketing, facilities, IT, human resources, and government affairs.

Merchandise Inventory Tracking and Accounting

Ship Monk

Any company that sells a product carries merchandise inventory with costs that need to be tracked. A manufacturer purchases steel and brass from a supplier, and turns them into tiny gears to make watches. In every example above, inventory was purchased and inventory was sold.

Freight Broker Leads: 6 Tips for sourcing leads

FreightWaves SONAR

Most freight brokers have to source their own freight broker leads. Here are six tips for sourcing freight broker leads that will minimize the time and resources required to source and research shipper leads. . 6 Tips to source freight broker leads. #1:

A Quick Guide to Roles in Procurement

Logistics Bureau

For instance, the Chief Procurement Officer will lead the sourcing process, develop the procurement strategy, identify potential suppliers, and manage short and long terms goals. 5) Sourcing Team Member. ARTICLE SUMMARY.