Supplier Motivation, A Key Component of Supplier Management

ivalua

Convinced that their sizes and brands will attract suppliers anyway, they entrench themselves behind the gates of rigid procurement processes. This multi-channel strategy tailored to suppliers’ capabilities is what differentiates best-in-class from a peer group as a report from The Hackett Group reveals. This translates into a powerful lesson learned for Procurement: motivate your suppliers rather than merely manage them. Why would it be different for suppliers?

Integrated Supplier Management Boosts Performance

QAD

The disruption caused by the COVID-19 pandemic has certainly increased the awareness among manufacturers for improved communication and collaboration with suppliers. Manufacturers require integrated supplier management to ensure the timely flow of goods and information.

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What Is Strategic Supplier Management?

EC Sourcing Group

What Is Strategic Supplier Management? Perhaps one of the toughest tasks of all in the entire supply chain and procurement process is mitigating the human factor and evaluating the relationships you have with your suppliers and strategic partners. Supplier management is not talked about nearly enough as other procurement processes or management, yet it is still a critical aspect of the entire chain. Lastly, there are your vendors or approved suppliers.

Why Strategic Sourcing and Supplier Management Can Make or Break Your Customer Experience

ivalua

However, few manufacturers ever sit back and ask, “How can our procurement or strategic sourcing initiatives contribute to the overall customer experience?” I would argue that, if you’re in manufacturing, strategic sourcing is the first place to start shaping the customer journey. In manufacturing, it is the strategic sourcing group that finds the best component parts for new product introductions. This problem appears to be the result of sourcing choices.

Factoring Risk & Business Continuity into Holistic Supplier Management

Jaggaer

What is the optimal way to categorize your suppliers so that you can manage them better and maximize business continuity? The report, therefore, provides a very useful insight into supply chain management and resilience from the perspective of this community. Organizations, it seems, are getting better at managing their immediate (tier 1) suppliers. Incidents involving tier 1 suppliers fell below 50% for the first time since 2016 (48.9%). Tier Suppliers.

What has been Apple’s greatest impact on supplier management? The answer may surprise you.

ivalua

Apple has long been known as a leader in supply chain management with Gartner consistently ranking them number one in its annual report identifying the Top 25 Supply Chain Leaders. Apple’s sourcing and supplier management practices are under a constant microscope and have certainly taught us many valuable lessons including: The importance of keeping your supply chain as simple as possible. The need to demand supplier transparency and responsibility.

Intalere partners with Ivalua & Consus Global to digitize and transform their sourcing, supplier management and contract lifecycle management processes

ivalua

The solution will support Intalere’s Supplier Management, eSourcing, Contract Lifecycle Management and transactional procurement processes. New York, NY January 07, 2021. We are excited to announce that Intalere, a healthcare supply chain GPO based in St. Louis, Mo.

Supplier Management Through a Vendor Portal

TPSynergy

Along with your customers, suppliers and purchasing agents need the same level of info just as fast. The fastest and most cost-effective way to implement this is with a supplier vendor portal. Here are some of its benefits: SUPPLIER SELF-SERVICE. Portals allow the supplier to have a high degree of autonomy. Inquiries that would have taken days or even weeks through a lengthy process of calls and emails is instead done by the supplier in a few clicks.

Supplier Management: what is it and why is it important?

HICX Solutions

“The objective of supplier management is to ensure that all contracts with suppliers support the needs of the business.” ” (Source: ITIL® Process Map & ITIL® Wiki ). At first glance, supplier management seems like an easy thing to sum up. In very broad terms, it refers to the management of relationships with third-party vendors that supply your organisation with essential goods and services. What is supplier management?

What are the Key Components of Successful Supplier Management?

HICX Solutions

Here at HICX we are championing the importance and value of evolved supplier management. Evolved supplier management focuses on moving beyond mere strategic sourcing and category management, and instead encouraging organisations to think differently about how they work with their suppliers. In this blog we take a look at the key components of supplier management , starting with… 1. Supplier Innovation.

Your Procure-to-Pay Suite Won’t Cut It For Supplier Management – Here’s Why

HICX Solutions

The continued growth in the adoption of procurement-to-pay (P2P) or source-to-settle (S2S) suites in the last few years is testament to the significant value they deliver to procurement teams in businesses of all sizes. One of the most common scenarios is to have the P2P system become the master for supplier data and the single portal for all suppliers to the business. Firstly, suites aren’t designed for the huge variety in the supplier base.

5 Pillars of Effective Supplier Management

Claritum

This article focuses on effective supplier management. The five pillars of effective supplier management covered in this article are: Supplier Information Management. Supplier Lifecycle Management. Supplier Performance Management. Supplier Risk, Diversity and Compliance Management. Supplier Relationship Management. 1 Supplier Information Management. 2 Supplier Lifecycle Management.

Supplier Management and Sourcing in the Fashion Industry – Under the Spotlight

Jaggaer

More than virtually any other sector, sourcing and supplier management in the fashion industry have been exposed to intense scrutiny in recent years, while the functions have become of increasingly strategic importance to business success. Supply chains are multi-tiered and therefore difficult to manage. For these and many other reasons, the role of purchasing and supplier management is highly strategic in the fashion industry.

Italy 40

If you had a clean slate, what supplier management practices would you eliminate?

ivalua

Which got me to thinking… If you are a manufacturer, what supplier management practices might you eliminate if you had a clean slate? Here are some to consider: Segmenting suppliers by spend – By segmenting on total spend, and only focusing on those who you are spending the most with, glaring gaps open up. Are there suppliers that you spend less on who could become the cornerstone of your product?

Collaboration will drive future sourcing and supplier management success

ivalua

Historically, if you asked sourcing leaders to name the one competency they felt they needed their procurement and sourcing teams to master in order to achieve ongoing sourcing and supplier management success, most would likely have said negotiation skills. And as time passed, this critical talent has evolved well beyond the ability to squeeze vendors and suppliers down to the lowest price. But collaboration is not reserved for suppliers.

Collaboration Will Drive Future Sourcing and Supplier Management Success

ivalua

Historically, if you asked sourcing leaders to name the one competency they felt they needed their procurement and sourcing teams to master in order to achieve ongoing sourcing and supplier management success, most would likely have said negotiation skills. And as time passed, this critical talent has evolved well beyond the ability to squeeze vendors and suppliers down to the lowest price. But collaboration is not reserved for suppliers.

Strategic sourcing enters a new age. Are you keeping up? (Part 1)

ivalua

Since its inception in the late 1980s, strategic sourcing has always been about getting the best value for the goods and services purchased from third party suppliers. Strategic sourcing requires an intense focus on the total cost of ownership, while incorporating customer needs, organizational goals, and market conditions. The decision making process used to select suppliers must be fact-based and driven by a rigorous analytical approach.

The Secret to Effective Supplier Onboarding – Tiering 

ivalua

One size does not fit all when it comes to supplier onboarding. Best practices have evolved to a tiered approach that segments suppliers and adapts to dynamic business needs. . A tiered approach to supplier onboarding helps Sourcing and Procurement leaders develop a sensible list of checks and resources. Among other things, this prevents redundancies when suppliers get asked the same questions by multiple departments. . Onboarding High-Value Suppliers.

Altering the When, How and Why of Supplier Information Management

ivalua

Supplier information is typically viewed by procurement organizations as one of two things. It is either a data input, such as what we gather and use in spend analysis, or it is a process by-product, such as the information we gather from prospective suppliers during strategic sourcing. Procurement knows supplier information is useful and important, and that it needs to be cleansed and standardized after we collect it. It does not tell us much about the suppliers.

Unlocking Innovation from Your Supply Chain – Lessons from Formula 1 Racing

ivalua

Afrika Morris, Senior Field Marketing Manager UKI at Ivalua. F1 Veteran, Mark Gallagher highlighting the impact of supplier innovations on pit stops – resulting in team success. Adopt a Collaborative Approach – Embrace suppliers as partners, not vendors. If you are successful, your suppliers will be successful, and vice versa. Source the right suppliers and set a good foundation from the first steps to build trust and foster innovation.

Hitting The Brakes On Out Of Control Supplier Master Data W/ Cyrille Naux

ivalua

Managing Director, Art of Procurement. If this foundation does not exist or if it is shaky, then buyers don’t know how much the company is spending with a given supplier, let alone how they can improve the efficiency or impact of a given spend category. Unlike industries such as retail and professional services, which start by managing indirect spend and then gradually transition to influence directs, most procurement teams in the automotive space take a direct-spend first approach.

The Importance of Using Supply Chain Management Software in Procurement

EC Sourcing Group

The importance of using supply chain management software is notable because of the importance of the supply chain itself. Read on to learn more about types of supply chain management software and how to pick the best type for your company’s needs. . Contract management.

5 Ways to Go Beyond The Manufacturing Valley of Death

Insights Solutions Global

Poor supply chain management and NPI process are the major causes of death of many businesses. Supplier Management Supplier SourcingBut the good news is, you can always keep on eye on the 5 areas listed here to avoid the final destination. The post 5 Ways to Go Beyond The Manufacturing Valley of Death appeared first on Insight Solutions Global.

Strategic sourcing and ‘big data’

ivalua

Big data is more than a buzz term, and if you are a strategic sourcing professional, it is a concept that should not be ignored. As a sourcing professional, big data can help you automate and streamline your job – if you have the right tools. This magnifies drastically when you multiply across all of sourcing, as well as suppliers, engineers, and managers. Now let’s turn to why you, as a sourcing professional, should care more about big data.

Supply Chain and Risk Management Software

EC Sourcing Group

It’s always a good idea to have human thought behind some evaluation, but having supply chain and risk management software can also be a benefit to help you identify and analyze risks more thoroughly. Supply Chain and Risk Management Software : Identifying Risk.

Artificial Intelligence to Improve Decision-Making in Procurement

Jaggaer

Our recently published report, “ Digital Transformation in Procurement: How Close Are We? ”, which is based on a global survey with responses from 391 CPOs and other senior procurement decision makers, showed that most progress had been made with the automation of supplier management, procure-to-pay and spend management processes. Some of these are supported by artificial intelligence, for example to map inbound supplier invoices for automated data entry.

Category-based Procurement

Claritum

The sourcing of products and/or services within the Category; the management of suppliers associated with the category; and strategic planning for this category. CIPS define category management as: “the entire science of the procurement subject applied to a single genre of expenditure”. “As Depending on the nature of the purchase, within a category, there will be different levels of a supplier relationship. Supplier and Market research. Change Management.

What Makes a Supplier “Strategic”? Not Spend Volume.

Jaggaer

The recent disruptions to supply chains caused by the coronavirus epidemic in China have given supply managers the world over pause for thought. Leverage your supplier management for maximum benefit with the white paper: How to Achieve Holistic Supplier Management. Strategic Supplier Management. Supplier ecosystems are increasingly diverse. Strategizing for a diverse range of suppliers. Holistic Supplier Management.

China 66

Your Guide to Procurement and Sourcing Software

EC Sourcing Group

You would have spent endless hours on phone calls with vendors and suppliers, keeping conversations and facts and figures straight. . Read on to take a look at procurement management software and how it can work best for you. . Procurement and Sourcing Software Types .

Stop Settling!

ivalua

In this era of purpose-built solutions there is no reason to settle for direct materials sourcing and supplier management technology that is: Good enough because it’s an integrated module sold with an ERP system Close enough because it’s really built for indirect spend management Useful enough because it’s a spreadsheet-and-email managed process Yes, you can usually get the job done with any of these approaches, but you will sacrifice productivity and the results will be mixed at best.

Groups 100

You Can’t Achieve Procurement Success Without A Strong Foundation

HICX Solutions

When it comes to managing your organisation’s suppliers , it’s likely that one of your main concerns is increasing supply chain efficiency. In fact, according to a survey carried out by PayStream Advisors , 39% of enterprise-level (companies with revenues greater than $2bn) procurement and sourcing professionals listed ‘increasing supply chain efficiency’ as their main aim when it comes to managing suppliers.

Solving the Procurement Data Dilemma: The future of technology in Procurement

HICX Solutions

Nic also mentions Blockchain and smart contracts to consider in the longer term, adding, “Something else that I’ve seen are sourcing and negotiation ‘bots.’ Nic points out that much of our focus today is on the tier one, or most significant suppliers.

What is the Best Supplier Vetting Process?

Supply Chain Game Changer

Strategic Supplier Relationship Management – Do’s and Don’ts. Does your business rely on at least one supplier? Or do you need multiple suppliers in order to perform your daily operations? Either way the quality, reliability, and value for cost of your suppliers is crucial to your organization’s success. On the other side, if your suppliers don’t live up to the standards you require, your organization can be damaged. Subscribe Here!

What Is eSourcing in Supply Chain Management?

EC Sourcing Group

What Is eSourcing in Supply Chain Management? When you think about the supply chain, you’re thinking about the entire process from start to finish when it comes to creating a good, while procurement is only one small part of the supply chain—essentially working with suppliers and internal stakeholders to procure and attain goods and services in a timely fashion for manufacture (or for other means) that are the best fit for the organization. . supplier relationship management.

Solving the Procurement Data Dilemma: The future of technology in Procurement

HICX Solutions

Nic also mentions Blockchain and smart contracts to consider in the longer term, adding, “Something else that I’ve seen are sourcing and negotiation ‘bots.’ Nic points out that much of our focus today is on the tier one, or most significant suppliers.