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Articles in category: Supplier Relationship Management
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)
Cabinet approves implementation of programme to ensure compliance by government departments with policy on procuring goods, services from local suppliers(Read Full Article)
If you are not the top priority for your supplier you may be at the back end of the queue if they run out of capacity. Thus getting fired by your supplier!
Listening to supplier opinion can deliver great benefit to any organisation. Product or process improvements, design changes or new materials can be the result from opening up to suppliers.(Read Full Article)
These types of brands are more likely to spend more time with suppliers and understand them at a personal level, the study says. Often design-led, luxury brands are also always pushing suppliers’ capabilities and testing their flexibility. Procurement consultancy State of Flux’s study of luxury brands, part of its annual research into supplier relationship management (SRM) launched yesterday, said 59 per cent of luxury brands reported more innovation from suppliers as a result of their SRM programmes. This compared to 43 per cent across all industry sectors surveyed. Premium brands have a better understanding of the value of SRM ...(Read Full Article)
Shell Supplier Diversity is introducing a new strategy and technology to create efficiencies while helping potential suppliers interested in doing business with Shell. The new Shell Diverse Supplier Pipeline Management System, which Shell developed, will make the sourcing process more transparent and easier for Shell Supplier Diversity to identify current opportunities for minority business enterprises (MBEs), women-owned business enterprises (WBEs) and Small Business Enterprises (SBEs).
The system will also track the progress made by diverse businesses introduced to Shell stakeholders.(Read Full Article)
Mike Blanchard, general manager of strategic procurement at Sydney Trains, made the point while addressing delegates at the CIPS Australasia Conference this month. He said high-performing teams have the following five characteristics: they share the same vision; have a healthy team culture; clearly defined roles and expectations that encourage excellent performance; everyone is held accountable and; the leader of the team acts by example.(Read Full Article)
As uncomfortable as it may be, procurement needs to hear from unhappy suppliers. In fact, giving suppliers the opportunity to complain or otherwise rate the way they are treated is a vital part of effective supplier relationship management (SRM).
Procurement Leaders, citing news stories in other media, reported last week that suppliers to giant UK food retailer Tesco are unhappy with the company’s organization and certain business practices, branding the firm as leaderless and difficult to work with. It’s a stunning indictment, all the more so since it turns the table on the usual paradigm of buyers complaining ...
Central to the report were six main recommendations for sustainable procurement best practice:
- Lead by Example – provide clear direction for your buying team and suppliers through consistent leadership and policy-making on sustainable procurement.
- Set Clear Priorities – rationalise existing procurement guidelines into a single integrated procurement framework which “meets the test of policy salience and suitability”. Equally, filter and prioritise new procurement policies before considering implementation.
In March 2012, Hollard Insurance hosted a procurement conference with a primary focus on supplier management and cost controls. It was the start of their own reworked procurement strategy (officially launched in April 2012), designed and developed to ensure best service and to curb costs during the insurance claim settlement process. Now, a little over two years down the line, the procurement policy is paying off, says Arie de Ridder, Head of Claims for Hollard Broker Markets.(Read Full Article)
The upcoming contract management event – organised by Bespoke and the International Association of Contract and Commercial Management (IACCM) – promises to deliver international leading practice knowledge on contract management and supplier relationship management, with two experienced international speakers presenting at the event.(Read Full Article)