Institute for Supply Management

ICYMI 💲 Is competitive bidding costing procurement more than it saves?

A recent ISM® webinar challenged one of procurement's oldest assumptions: that competitive bidding is always the best path to value. Negotiation expert Keld Jensen shared research showing that negotiation can produce stronger agreement rates, uncover hidden value and build more collaborative supplier relationships—especially in today's volatile business environment.

The message wasn't to abandon competitive bidding, but to use it strategically. For standardized purchases, bidding remains effective. But when uncertainty, risk and complexity enter the equation, negotiation creates opportunities that spreadsheets can't capture.

Read how procurement leaders can combine competitive bidding, negotiation and AI to drive better outcomes. 👇
https://hubs.li/Q04p6gJN0

The July/August issue of Inside Supply Management® examines what supply chain resilience looks like today, from defending against cyberattacks to combating forced labor, making better AI-enabled decisions and leading effectively under pressure.

Inside this issue:
• How is becoming a frontline player in cybersecurity and digital risk management.
• Why can improve visibility into forced labor risks — but only with transparency, collaboration and human oversight.
• Why leadership, governance and cross-functional alignment matter more than technology alone when deploying AI.
• Military-inspired leadership lessons that can help organizations make better decisions in uncertain environments.

The theme is clear: Technology is an enabler, but people, governance and leadership remain the competitive advantage.

💡Check out Inside Supply Management® and discover practical strategies for navigating today’s supply chain challenges ➡️ https://hubs.li/Q04nVtnd0

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