Category: Category Management
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Demand Management
What is demand management and why should we use it? Criteria: Current demand and usage data is linked to service improvements. Demand Management is considered for all high value, high risk, and business critical contracts to ensure that the quantity and specification of goods/services match, but do not exceed, the actual needs of the organisation.…
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Inflation & Procurement
What is inflation?ChatGPT Inflation refers to the general increase in prices of goods and services in an economy over time, resulting in a decrease in the purchasing power of money. In other words, inflation means that, on average, you would need more money to buy the same amount of goods or services compared to the…
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Pareto Rule & Procurement
The Pareto principle states that for many outcomes, roughly 80% of consequences come from 20% of causes. Other names for this principle are the 80/20 rule, the law of the vital few, or the principle of factor sparsity Quite simply the Pareto rule is to concentrate 80% of your spend time and effort in 20%…
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PESTLE
PESTLE template External factors to consider Factors affected within my industry Importance to organisation External Factors to Consider Factors affecting the Industry How my Organisation is affected Political Government policy Political stability Tax Industry regulations Global trade agreements and or restrictions Economic Exchange rates Globalisation Economic growth / decline Inflation Interest rates…
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