by James Meads | 16 Apr 2020 | Terminology
Elon Musk famously hates acronyms. He coined the phrase “Acronyms Seriously Suck,” or ASS. According to his autobiography by Ashlee Vance (which is a seriously good read, by the way), he lambasts anyone who uses too many acronyms in presentations and insists on them...
by James Meads | 09 Apr 2020 | Procurement Best Practice
“I’m buying my widget from Supplier A because he’s cheaper than the preferred vendor that Purchasing told us we have to buy from.” That’s what Dave in Maintenance said to me. He figured that he could buy his £100 order for 10% less. You see,...
by James Meads | 25 Mar 2020 | Terminology
You may well have heard of the Pareto principle. Another common name for it is the 80/20 principle, or rule. It’s named after the Italian economist, Vilfredo Pareto. If the name rings a bell, it’s most likely because you’ve heard somebody use the...
by James Meads | 11 Mar 2020 | Terminology
No, it’s not a straight-to-video 80s movie that you’d never heard of. It can definitely be an unintended horror film for SMEs though if they don’t have a firm grip on it and know how to contain it. Maverick spend is essentially any spend that cannot be...
by James Meads | 21 Jan 2020 | Procurement Best Practice
Sounds like magic, doesn’t it. Increase profit margins without raising your prices or making more sales? You’re probably thinking the only option left is slashing your costs, or curtailing investment you had planned. It’s not. It’s all about understanding what you...
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