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Articles in category: Supplier Relationship Management
How can your organisation act in ways that make your important suppliers more willing to engage in joint innovation? It is about your behaviour and the level of trust and sharing with suppliers.
Collaborating with your key suppliers can fuel your growth, differentiate your products and improve speed to market. They have great innovation potential, because they know what is important to you, their customer.(Read Full Article)
An incubator establishment handbook has been launched to help improve the quality of applications for the establishment of business incubators in South Africa.
Explore MiningWeekly.com (May 11 2015) Preferential Procurement , Sourcing , Supplier Diversity , Supplier Relationship Management , Construction , Manufacturing & Automotive , Public Sector , Resources , Metals & Minerals , Transport & Logistics
The Department of Trade and Industry (DTI) has announced a further set of product designations for local procurement by the public sector and has indicated that efforts will be stepped up during 2015 to improve compliance across all government departments and State-owned companies (SoCs).(Read Full Article)
Information and communications technology (ICT) major Telkom on Thursday unveiled its new R100-million plus programme to incubate and develop starting up and existing entrepreneurs and small, medium-sized and microenterprises (SMMEs). The ‘FutureMakers’ programme would bolster enterprise and supplier business development at scale, offering SMMEs access to much-needed funding, business development opportunities, all-important access to technology, long-term support and mentoring and access to incubators and innovation hubs.(Read Full Article)
There is no confusion regarding the implementation of the Broad-Based Black Economic Empowerment Act, says the Department of Trade and Industry (dti).
With increased regulatory scrutiny, continuing cost pressures, active investors, and a vigilant public, businesses today must have a clear understanding of the risks inherent in external business relationships.(Read Full Article)
According to Gallup, supplier relationships are among the most overlooked but most important connections a business can have. Being a “customer of choice” can help mitigate risk, lower costs, and spur innovation.(Read Full Article)
Research from the United Nations (UN) has shown that corruption is exacting a high cost the world over. By distorting markets, stifling economic growth and undermining laws, it equates to more than 5% of the world's GDP.(Read Full Article)
Enterprise development expert says introduction of the empowering supplier status measure in the amended BEE codes will create new levels of opportunity, writes Stephen Timm(Read Full Article)
At the moment, this technological evolution is being felt within the consumer packaged goods (CPG), manufacturing, technology, and utility companies more than other industries. For Chief Procurement Officers and other supply management leaders, it will underscore the importance of collaborating with and influencing key internal and external stakeholders throughout the source-to-settle process. With 2015 here, now is the time to understand how.
Innovation and Automation Drive Enterprise Collaboration(Read Full Article)
Point #3 Create a strong foundation by building relationships first: This is probably one of the most important things an individual can do in regards to negotiation and in business in general. Perhaps you have attended the standard “networking” event where you give dozens of cards out without having a real conversation with anyone. It’s time to slow down and start making real connections with people—particularly those you might be involved in a deal with later on.
With “experts” who write articles such as the one referenced above, it is no wonder why negotiation is viewed as an ...
When assessing areas of risk facing their departments, nearly half (45%) of Chief Procurement Officers named supplier risk as a top concern, according to a new survey by Consero Group.
The results were reported as part of the 2015 Global Procurement & Strategic Sourcing Data Survey, compiled by Consero Group.
“With businesses increasingly relying on third-party suppliers, Chief Procurement Officers are more important to their companies than ever,” said Paul Mandell, Founder & CEO of Consero. “CPOs will need to lead their organizations in thoroughly vetting new suppliers and improving supplier relations, both of which are essential to the efficient sourcing of ...(Read Full Article)
This standard-setting work from Anglo American is now informing an industry-wide programme through a partnership with the Chamber of Mines. “Anglo were the first to start doing this, but what we found as we engaged with other mining companies like Anglo Gold Ashanti is that they were also starting something similar,” says Ramlochan.(Read Full Article)
From briefcases of cash to payments through complex structures, the use of dummy, shell or offshore companies and kickback-factored contracts, the manners in which monies are siphoned out of companies are increasingly creative and difficult to trace.
Many companies have been fined for improper payments made by their vendors (on their behalf) through a myriad of fraud and corruption schemes where supply chains are exploited.
Often the initial reaction from companies is vendor audits are expensive, difficult to conduct,- See more at: http://www.supplymanagement.com/blog/2015/03/vendor-audits-are-they-worth-the-effort-and-expense#sthash.Las31Q7N.dpuf
Vendor audits: Are they worth the effort ...(Read Full Article)
Global companies are wasting more than $30 billion (£20 billion) a year because they do not share information about suppliers, according to business information provider Achilles.(Read Full Article)
Be honest – to what degree are you really collaborating with your trading partners? Are you sharing information with a few companies? Working together to develop new products and services? Or sharing knowledge to solve problems and boost customer satisfaction? Supply chain collaboration is a hot topic today. As explored by The Economist Intelligence Unit in a recent paper, “No Business Is an Island: How companies collaborate with trading partners ...(Read Full Article)
Every audience that I ask agrees that change is occurring at an ever-faster pace. Yet when it comes to the impact of change, most tend to see it in terms of greater complexity, additional workload or confused priorities. There are few who can express it in terms of longer-term implications to their job or its relevance and value.
Looking for a moment at the world of contracting, we can quickly see that recent years have driven more contracts, wider international use, some convergence between legal systems and practices and – in general – longer and more complicated terms.(Read Full Article)
Supply chain management fosters strategic alliances along with operational efficiencies to differentiate itself from other companies. Raw material sourcing is one of these opportunities to minimize risks, reduce operating expenses and ensure continued operations in the face of a supply chain disruption. Single suppliers present companies a chance to reduce procurement expenses through material cost reductions and volume discounts. However, procurement with a single provider has attached to it significant risks such as higher costs and lower profits due to supplier disruptions.(Read Full Article)
Procurement should consider, for a moment, how much innovation is created among smaller businesses, regardless of whether they are a supplier to your business or not. Innovation is just as likely to be found in the basement of a PhD graduate’s apartment, or the laboratory of a university, or within a micro start up which is struggling to stay afloat as it is in the labs of a multinational.(Read Full Article)
Do you believe that your suppliers think it is worth the time and effort to bring you the innovations you are looking for to grow your business in a sustainable way? Procurement can be a key driver if the right resources, processes, incentives and metrics are established. Are you ready to engage your suppliers to unlock the value from them?(Read Full Article)
Closer Relationship With Suppliers
Increased competition, higher consumer expectations and shifting attitudes towards the environmental and social impact of products and services means that today, the development time is compressed, and the expected lifetime of a product is becoming ever ...
2015 will be the year of the supplier; everything procurement teams do will have to connect back to the supply base.
In this series of guest posts, Procurement Leaders asks solution providers in the procurement space for their predictions on the shifts in technology that will take place in 2015. In this, the first post in the series, Mickey North Rizza, VP strategic services, BravoSolution, shares her views.
If you feel that one of your key suppliers has put you on the back burner, he probably has. We depend on our suppliers to stay in business and we need to manage those relationships that really matter, and actively. We usually categorise key suppliers in leading organisations and assess them according to various criteria: how much we spend with them and how critical it would be if they failed.
The profession's increased involvement in wider business strategy has altered the skill set needed by those working in the function. Generally speaking this has manifested itself in a focus on skills related to relationship management and strategic thinking.(Read Full Article)
The supply base plays a pivotal role in any organisation’s success. Without a robust system to evaluate supplier performance, a business can never reach the point at which it can derive real value from its suppliers. CPOs need a system in place for evaluating, selecting and re-evaluating the suppliers they work with. Here are seven tips to help effectively rate suppliers and monitor their performance: 1.(Read Full Article)