Tenders: a lengthy and complex process best used for procuring large contracts? It may be the generally accepted view, but it’s not necessarily the right one. This article will outline why competitive tenders are effective for the procurement of any services - big or small.

Total cost of ownership, or TCO for short, is a term most usually associated with assets, goods and software. Procurement takes the base price of the asset, add the cost of shipping, import duties and warehousing and then finally work out any forecasted costs of managing, repairing or decommissioning the asset through its lifetime within the business.

The procurement world is emerging from the paralysis of lockdown to discover the landscape before them is quite different.  The urgent need to cut costs, supplier chain disruption, longer lead-times, higher supply prices and rapid changes to internal budgets.

It’s the new kid in town but Lean Methodology is no stranger. Manufacturing businesses have been using lean thinking for decades to streamline processes, saving time and waste. But why aren’t more service-led organisations capitalising on the benefits Lean can bring?

Jumping on a new and promising idea is the smart way to stay one step ahead - but the paperwork and process involved in engaging with innovative start-ups and smaller 'boutique' style suppliers can oftentimes hamper any idea of stealing a march. So, if you want better access to more innovative start-up suppliers, how can you fast track the process?

Creating a brief that is clear and concise will ensure the buying process is fast and cost effective. Although writing a brief can sometimes be the most challenging part of your project, don’t worry, we are here to help. At Maistro we use the term Statement of Requirements or ‘SOR’.

In April, Maistro will join 180 procurement professionals in Copenhagen at this year’s Procurecon Indirect Europe Conference.  We’ll be hosting the Masterclass workshop on Day 2 - How to use digitally-outsourced procurement to transform your services spend strategy - a practical case study to demonstrate the value this adds.  

The Procurement Predicament

Improving productivity has been a primary focus for enterprises since before the first Model T rolled off the Ford assembly line. And while there are many approaches you can use to improve productivity in your enterprise, these organisations have achieved impressive results with these five procurement best practices.