Procurement is often viewed through the lens of strategy, economics, and logistics — but an often overlooked dimension is psychology. Understanding human behavior, biases, and decision-making processes can transform procurement from a transactional activity into a strategic advantage. By applying psychological principles, procurement professionals can enhance negotiations, build stronger supplier relationships, and drive more effective internal stakeholder engagement.

Rare earth elements (REEs) are a critical group of 17 metallic elements essential to modern technology, renewable energy, and defense industries. Despite their name, they are relatively abundant but often difficult to extract in economically viable concentrations. China dominates the rare earth supply chain, controlling both mining and refining. This article explores the global distribution, demand, major industry players, China’s overseas investments, and efforts to reduce dependence on China.