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Procurement, are you forecasting savings? Recent data indicates that the U.S. industrial sector is currently operating

Hello my fellow procurement gurus. Let’s talk about something that often comes up in service contract negotiations: how do you handle cost adjustments over time? Do you tie them to the Consumer Price Index.....

Reverse auctions have emerged as a powerful tool in the arsenal of procurement professionals, delivering significant advantages that can transform the purchasing landscape for businesses. While the cost…

Interesting to see the US import trendlines.  Clearly this supports the continuing US decoupling from China (bold orange line).  The big winners of the decoupling are Mexico and Canada which have now…

K2 Sourcing economic indicators for procurement report of US July PPI, based on data from the BLS (https://lnkd.in/gW4dSskq) In July 2024, the U.S. Producer Price Index (PPI) for final demand increased…

Understanding Reverse Auctions in Procurement: Part One History of Reverse Auctions Because of their immense success at generating cost savings and their ability to increase efficiency, reverse auctions…

A Succinct Guide to Strategic Sourcing Strategic Sourcing is a fundamental strategy for organizations seeking to maximize the value suppliers provide. Strategic sourcing aims to optimize costs, mitigate…

Broad tariffs have passed in the US, impacting steel and aluminum, among other categories. Here is a summary of the new US tariffs, targeting $18 billion of Chinese imports, and comments on the aluminum…

Using a Third-Party Procurement Provider to Spur Negotiation Success I see this time and time again: when people bring a third-party procurement and strategic sourcing company (like K2 Sourcing) into a…

How to Respond to Supplier Price Increases: Procurement Sensitivity Class To respond more empathetically to salespeople asking for cost increases, I recently took a sensitivity class.  I came up with…

What is Risk Mitigation? Risk mitigation refers to the process of taking proactive actions to reduce the likelihood or impact of potential risks and uncertainties that could affect the success of a project,…