CoVest News | Educational (5)

Core List Rewrites: Maintain Your Savings!

Posted by Andrew Matyas on Jun 10, 2015 10:18:00 AM

Core List rewrites are an essential process to ensure that savings negotiated with suppliers are maintained over the life of the contract. It is a step in category management that many companies don't use and can be a major source of increased cost, especially in categories like MRO and office supplies.

The Benefits of Lost Savings Opportunity Reporting

Posted by Andrew Matyas on May 28, 2015 9:27:00 AM

Lost savings opportunity reporting is a critical part of the category management process and should not be over looked! With the opportunity to review your past spending decision results, you can ensure a more profitable future.

Why Utilizing Compliance Reports Make a Difference

Posted by Andrew Matyas on May 20, 2015 9:28:00 AM

Compliance reports are a crucial part in assuring that savings are continued through the length of a contract. Utilizing compliance reports makes a difference.

Why Savings Reports Should Not be Neglected

Posted by Andrew Matyas on Apr 28, 2015 1:17:00 PM

Savings reports are one of the first steps in implementing a strong category management process. Are you utilizing your savings reports to the best of your ability?

Category Management Essentials

Posted by Patrick Russo on Apr 6, 2015 9:24:00 AM

This blogs series will guide you through several aspects of category management in Strategic Sourcing. But before we dive into specifics, let's understand the essential components of category management.

Request for Proposals: Stop Wasting Your Time!

Posted by Thomas O'Neill on Mar 9, 2015 9:39:00 AM

There are many different takes on how to develop a Request for Proposal (RFP) or how to organize requests to obtain the best results. With a majority of the discussion focused on why RPFs are so important, it's rare for someone to question the process. However, we're here to tell you why a RFP on some categories is NOT productive.

Your Guide to Creating the Perfect RFP

Posted by Thomas O'Neill on Feb 23, 2015 11:46:00 AM

When you are tasked with developing a Request for Proposal (RFP) it is tempting to find a template that has been used in the past in order to get things moving quickly. The problem with this method is that the "boiler plate" templates used in the past were likely designed for a very different situation than yours and designed to satisfy needs that may not parallel your company's needs. It can result in "boiling the ocean", collecting a lot of information that is irrelevant to your situation, and not getting the information you really need to make the right supplier selection decision.

The Difference Between RFI, RFP and RFQ

Posted by Thomas O'Neill on Feb 3, 2015 10:44:06 AM

Many times it is hard to distinguish the difference between request for information, request for proposal and request for quotation. This can be extra concerning when you're not sure when in the procurement process to use each. CoVest is here to clarify the difference and get you started on the road to supplier selection.

What You Need to Know About Core List Development and Rewrites

Posted by Patrick Russo on Jan 28, 2015 10:10:19 AM

Core list and rewrites are a major aspect of sourcing indirect spend. Some would even say that this is the main place to optimize savings year after year. Eager to learn more? Read on to find out everything you need to know about core list development and rewrites.

5 Tips to Eliminate Upward Margin Creep with Suppliers

Posted by Daniel Anzevino on Jan 19, 2015 10:52:00 AM

Eliminating upward margin creep with suppliers can both provide lasting savings and enable longer-term agreements to be signed confidently. It is not as difficult as you many think to accomplish such a feat; all you have to do is commit to create strategic relationships with suppliers. You can do this in 5 steps: