Evocurement

Price fluctuation may cost your organisation thousands, or even millions of dollars each year, especially when your organisation mostly buys from overseas or you often buy large bulk of commodities. This is a risk that you cannot totally avoid but it can be managed with skills and knowledge. Futures, forward contracts and options are among the available tools to mitigate the risk of price fluctuation. In this post, we help you to define these tools and to see whether these…

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Gearing (or leverage) are among the most important factors in financial analysis. In financial management, using right leverage can help a business achieve their objectives. But if things are out of control, the punishment is so high that the business would possibly go bankrupt. To procurement professionals, a strategic supplier gone liquidated is no good news. It brings a serious risk to the supply side of the organisation. Therefore, sometimes it is the duty of procurement to analyse the financial…

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Procurement professionals are usually required to set up a cluster of criteria in supplier selection and supplier appraisal. The more comprehensive those criteria are, the more added value the buyers may bring to buying organisations. Besides the five rights as well as the total cost of ownership that purchaser need to consider, CIPS mentions some non-monetary factors which can add more value to the buying organisation. In this blog post, we clarify two factors: Brand & Reputation and explain how…

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