Remove aiming-better-supplier-relationship-management
article thumbnail

The Dangers of Single Sourcing in Your Supply Chain

Resilinc

In the intricate web of modern supply chain management, efficiency often guides decision-making. With lockdowns across the globe and major port backlogs, many companies realized too late that the key parts and materials they needed often came from one small supplier or factory. If something were to happen in Taiwan—like the recent 7.4

article thumbnail

Mastering the art of Supplier Negotiation: Tips and Techniques

SCMDOJO

Supplier negotiation is the most critical skill in the world of procurement. Effective supplier negotiations do not limit to the best price but a mutually beneficial agreement from both the parties that can have a profound impact on the company. The aim is often to secure volume discounts or advantageous terms.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Supplier Motivation, A Key Component of Supplier Management

ivalua

As we have already seen in a former blog , enterprises often fail at maximizing the value of collaborating with smaller companies. Convinced that their sizes and brands will attract suppliers anyway, they entrench themselves behind the gates of rigid procurement processes. It all starts with building up a transparent relationship.

article thumbnail

Defining Supplier Development

QAD

Supplier development refers to the collaborative efforts aimed at enhancing the capabilities and competitiveness of crucial and strategic suppliers. The objective is to improve various aspects such as cost, quality, cycle times and technology for the mutual benefit of both the manufacturer and the supplier.

article thumbnail

Decoding the Procurement Department: A Comprehensive Guide to Roles and Responsibilities

SCMDOJO

This department manages the selection, acquisition, and payment of goods and services needed to run a business. To get the most out of any procurement team, all the associated key roles need to be filled with qualified individuals that understand both technology and the principles of supply chain management.

article thumbnail

Roadmap to Resilience: Adapting Automotive Supply Chains in a Changing World

QAD

On October 7, 2022 , the Biden administration initiated significant restrictions on the sale of semiconductor technology to China , aimed at curbing Beijing’s access to critical technologies pivotal for applications ranging from supercomputing to military advancements. China trade tensions and strategic rivalry, as the U.S.

article thumbnail

7 Strategies to Improve Your Supply Chain!

Supply Chain Game Changer

The supply chain is a significant part of your overall business strategy and inventory management. Improve Your Supplier Relationships. When it comes to supply chain and logistics , always remember that the supply chain process starts with your suppliers. Great suppliers are reliable. Reliability. Communication.