Showing 1201–1212 of 1429 resultsSorted by latest
This Skill Bit shows, that in an EPC contract, approvals and consents include necessary permits, such as environmental and building approvals, vital for project completion. Responsibilities and timelines for obtaining approvals, and consequences for delays or failures, must be clearly defined. Delivery and acceptance terms, such as INCOTERMS, should also be specified, alongside acceptance procedures…
This Skill Bit shows, that in an EPC contract, the contractor often excludes or limits responsibility for certain site conditions beyond their control. These include below-ground risks, pre-existing soil contamination, unidentified site services, climatological factors, and environmental hazards unless specifically noted. The contractor is typically not accountable for unforeseen conditions or external factors, safeguarding against…
This Skill Bit shows that in an EPC contract, the effectiveness of the agreement and the commencement of work are pivotal. In common law systems, effectiveness hinges on mutual agreement and contract signing, while civil law systems allow various means. Commencement of work signifies the contractor’s initiation of obligations, often linked to specific triggers like…
This Skill Bit explores real-world procurement scenarios, highlighting key challenges, solutions, and best practices. This course equips managers with practical insights to enhance decision-making, optimize sourcing strategies, and effectively manage contracts in complex projects. Duration approx. 5 Min. Tier: advanced
This Skill Bit shows that implementing a procurement strategy requires altering existing processes, facing resistance from staff and across the organization. Overcoming this resistance involves effective change management, clear communication, and comprehensive training to ensure successful adaptation to new processes. Duration approx. 4 Min. Tier: advanced
This Skill Bit shows that a well-defined procurement strategy drives cost savings through strategic sourcing, contract negotiation, and process optimization. Robust risk mitigation plans ensure business continuity by addressing potential disruptions. Streamlined processes enhance operational efficiency, allowing teams to focus on strategic initiatives. Supplier collaboration fosters innovation, boosting competitiveness. Alignment with organizational goals ensures procurement…
This Skill Bit shows that procurement strategy is integral to organizational success, encompassing planning, risk assessment, and alignment with objectives. Strategic planning involves goal-setting and market evaluation, while risk assessment identifies and mitigates potential disruptions. Alignment with organizational goals ensures coherence across functions, emphasizing factors like sustainability and ethics. Supplier relationship management fosters collaboration and…
This Skill Bit talks about the future of digital procurement, shaped by innovative trends like blockchain, AI, and IoT. Blockchain enhances transparency and security, while AI and machine learning improve analytics and decision-making. IoT enhances supply chain visibility, and sustainability becomes a priority. Digital tools ensure a user-friendly experience, driving efficiency and adoption. While challenges…
This Skill Bit explores real-world procurement scenarios, highlighting key challenges, solutions, and best practices. This course equips managers with practical insights to enhance decision-making, optimize sourcing strategies, and effectively manage contracts in complex projects. Duration approx. 3 Min. Tier: advanced
This Skill Bit shows that organizations may face challenges in digital procurement implementation, including employee resistance to change, integration with legacy systems, data security concerns, initial investment costs, and supplier adoption issues. Overcoming these challenges requires effective change management strategies, compatibility planning, robust cybersecurity measures, careful budget assessment, and support for supplier transition. By addressing…
This Skill Bit talks about digital procurement, which yields significant benefits: cost savings through reduced manual labor and errors, enhanced efficiency by streamlining workflows, increased transparency, and visibility across procurement processes, improved supplier relationships via better communication and collaboration, and informed strategic decision-making facilitated by data analytics. These advantages collectively optimize procurement, driving organizational effectiveness…
This Skill Bit shows that in the dynamic landscape of modern business, digital procurement stands out as a strategic revolution, reshaping traditional practices with innovative technologies. This approach leverages digital tools like e-procurement systems, automation, and data analytics to streamline processes, enhance efficiency, and drive strategic decision-making. E-procurement systems digitize the entire procurement lifecycle, while…
