The Supplier Management Secret Recipe

Supply Chain Game Changer

What is Supplier Relationship Management (SRM)? The Supplier Management Secret Recipe article and permission to publish here provided by Sam Jenks. Kodiak Rating’s Family Secret Recipe for smooth Supplier Management. 2 dl | Transformation/Process Managers.

Integrated Supplier Management: Plan, Execute and Adapt

QAD

Integrated Supplier Management is a must – manufacturers are still dealing with the effects of the global chip shortage, the Suez Canal blockage, changing trade policies and other global supply and demand disruptions. Mastering Integrated Supplier Management.

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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. Strategic supplier management.

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 translates into a powerful lesson learned for Procurement: motivate your suppliers rather than merely manage them.

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.

Four Key Strategic Sourcing Benefits

QAD

Recent business turbulence has increased the awareness among manufacturers for improved communication and collaboration with suppliers. This is certainly true in the area of strategic sourcing where procurement teams rely heavily on manually intensive efforts to identify and select 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. Tier Suppliers.

Top 5 Sourcing and Procurement Techniques

EC Sourcing Group

Top 5 Sourcing and Procurement Techniques. Sourcing and procurement in supply chain management play some of the most important roles. Read on to learn more about the top sourcing and procurement solutions and how you can integrate them into your workflow.

Demystifying Transportation Sourcing – A Practitioner’s View

EC Sourcing Group

Demystifying Transportation Sourcing. If you are like me, transportation sourcing is a mind boggling and complex field. This article is about creating value in transportation sourcing. Applying sound sourcing principles will enable you to unlock value.

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.

8 Supplier Management Best Practices any bussiness can implement

Precoro

For anyone responsible for procurement in an organisation, supplier management is an inevitable area of responsibility. Poor supplier performance due to the lack of oversight, analytics and clearly defined requirements. Segment your suppliers. Creating Supplier Database.

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.

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.

A Look at Direct v. Indirect Supplier Management in Three Industries

ivalua

Doug Keeley, Product Marketing Manager, Ivalua. The most fundamental spend categorization in Procurement is the line between direct and indirect spend, but one effort that transcends this split is supplier management. This includes supplier information management, supply chain risk management/mitigation, and supplier performance management. Who is the supplier, who are the points of contract, what are the terms of service or delivery?

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.

Asian Paints Successfully Digitizes the Source to Contract Process in Collaboration with Ivalua & Durvah

ivalua

Rapid Optimization of Contract Management, Supplier Management and Direct Materials Sourcing. Ivalua’s complete, modular platform also allows Asian Paints to later digitize the full Source to Pay process in alignment with their long-term roadmap.

5 Benefits of Global Sourcing in Supply Chain Management

EC Sourcing Group

5 Benefits of Global Sourcing in Supply Chain Management. The importance of quality in supply chain management is undeniable. What Is Supply Chain Management? Supply chain management is the big picture, of which procurement is merely a piece.

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

How Procurement Leaders Build Strong Supplier Relationships

QAD

Those procurement leaders with forward-thinking supplier management strategies that utilize digital technology fared better than others, according to QAD’s Brent Dawkins in his article , “3 Ways Procurement Benefits from Digital Transformation” in Manufacturing.net.

Sourcing and Procurement: One but Not the Same

Precoro

As both sourcing and procurement are related to obtaining supplies for the organization, confusing these two terms is easy. In the following comparison table, you'll discover the main differences between these two essential processes: Sourcing. Creates vendor and supplier relations.

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.

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.

Supplier Risk and Performance Management

ivalua

A checklist guide to getting the most out of your supplier risk management program. The wave of globalization has made businesses more reliant upon their suppliers than ever before. Suppliers are no longer just transactional in nature to be kept at arm’s length.

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.

An Interview on Learnings From Podcasting on Supply Chain and Procurement with Kelly Barner

HICX Solutions

Supplier Experience Live from HICX is available on all major Podcast streaming platforms: Spotify Apple Google Amazon. Podcasts data management Procurement supplier management Supply Chain

6 Benefits of Supplier Performance Management

ProcurePort

Companies are relying more and more on third-party suppliers on the other side of the world for critical raw elements and materials. However, the inherent dangers of this are very apparent and the COVID-19 pandemic served as a wakeup call for CPOs to enact stricter sourcing and […].

8 Steps to Building Supply Chain Resilience for Manufacturers in a Post-Covid World

ivalua

They discussed the impact of the Covid-19 pandemic on Procurement and came up with this list of 8 critical supply chain management activities that can help Procurement teams build and maintain supply chain resilience now and in the years to come. Set expectations with suppliers.

How Do You Develop Strategic Relationships with Suppliers?

EC Sourcing Group

How Do You Develop Strategic Relationships with Suppliers? One of the most significant pieces when it comes to sourcing and procurement solutions is your suppliers. Read on to learn more about strategic supplier management and how it fits in the supply chain. .

Will 2021 be about Cost Reduction or Strategic Supplier Relationships?

ivalua

PWC has been publishing the annual procurement survey since 2015, capturing many of the trends in procurement that we now see in organisations, such as the focus on supplier risk management. The post Will 2021 be about Cost Reduction or Strategic Supplier Relationships?

Survey 141

3 areas of development for Supplier Relationship Management

ivalua

Supplier Relationship Management has taken on new meaning in the unprecedented times in which we find ourselves living. Now is the time to rethink supplier relationships for 2021 and beyond. Supplier Relationship Management – time to rewrite the rule-book?