Integrated Supplier Management Boosts Performance


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.

Supplier Motivation, A Key Component of Supplier Management


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?

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.

Factoring Risk & Business Continuity into Holistic Supplier Management


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.

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


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?

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


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.

5 Pillars of Effective Supplier Management


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 Management Through a Vendor Portal


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.” 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? Why is effective supplier management important?

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

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. Sure, suppliers have in common that they sell you products or services and you pay them, but that’s about where the commonality ends. This has significant implications for who can add or modify what data relating to the supplier.

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


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?

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


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.

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Scottish Councils Deliver Streamlined Contract and Supplier Management


“The automation has streamlined the Council’s contract management and supplier performance processes and as such we feel that this has increased our business efficiency and improved internal and third-party collaboration by reducing operating expenses.” – Tommy Burns, Procurement Project Officer – East Ayrshire Council. B oth councils adopted JAGGAER’s contract lifecycle management software , which complemented their use of (public contracts Scotland) PCS-Tender.

Collaboration will drive future sourcing and supplier management success


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.

Managing Your European Supply Chain Network: Tactical Responses to the Coronavirus Pandemic


At this point, most … The post Managing Your European Supply Chain Network: Tactical Responses to the Coronavirus Pandemic appeared first on Chainalytics. COVID-19 is testing the resiliency of supply chains worldwide and particularly in Europe.

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


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.

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Collaboration Will Drive Future Sourcing and Supplier Management Success


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.

5 Tips When Using Inventory Management Software


Without inventory management, businesses, economies, and societies would descend into chaos. Inventory management is one of the most crucial elements in developing strong and resilient supply-chains that aren’t affected by the volatile marketplace. Supplier Management

Companies Are Wildly Overestimating Their ‘Digital Maturity’ in Supplier Management

Supply Chain Brain

When it comes to assessing progress toward digital transformation of the procurement function, a lot of companies appear far less advanced than they think they are

The Secret to Effective Supplier Onboarding – Tiering 


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.

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


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.

Altering the When, How and Why of Supplier Information Management


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.

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


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.

Coronavirus Highlights Fragility of Global Supply Networks


In the auto industry, China is the world’s major supplier of parts. The world ’ s largest automotive supplier, Bosch, also produces in China , including Wuhan. Flexible and holistic supply management will be key. . Flexible and holistic supply management will be key. .

Forgotten About This in Your Annual Supplier Meetings?


With 2020 well and truly begun, the timely question of whether you’ve had you had your annual supplier meetings yet, or not, springs to mind. If you haven’t, do your suppliers know what you expect from them? Orchestrate your supplier management for maximum benefit. Download the white paper, “ How to Achieve Holistic Supplier Management.”. See a supplier meeting as an opportunity. It can also show information about supplier performance.

What Is eSourcing in Supply Chain Management?

EC Sourcing Group

What Is eSourcing in Supply Chain Management? If you’re wondering, “ What is eSourcing in supply chain management? ” Read on to learn, “What is eSourcing in supply chain management? ” and how to manage your process better while running a digital eSourcing system.

Why An Holistic Approach to Suppliers? Your Questions Answered


Last week, Director of Product Management Georg Rösch hosted a webinar that asked the question, “Why is it important to take a holistic approach to supplier management?” It’s just another example of suppliers becoming a larger and larger part of every business. .

Identifying and Mitigating Supply Chain Risk in the Age of COVID-19


To learn more about how supplier management can help navigate turbulent times, download our Holistic Supplier Management whitepaper. How can we look at s upply c hain risk management more critically ami d COVID -19 , and react quickly ? So how can supply chain professionals manage and mitigate risk more effectively? For example, s ay you are a medical devices supplier with a range of products. Supplier Management

AI for Better Supplier Collaboration: First, Get Your Data in Order


The result has been isolated applications, e.g. for supplier management and for P2P working in parallel with siloed data sets and limited or no synergy. Another disadvantage is that suppliers see little or no value. This has resulted in software applications that do not include features that deliver value to suppliers, resulting in poor adoption among suppliers.”. Solutions that provide better alignment between supply chain and procurement management.

Corporate Sustainability: Why Procurement Should Pave the Way


In it, they redefined the role of business away from simply supporting shareholders, instead stating that a company has an obligation to “protect the environment,” and “deal fairly and ethically with suppliers. ” This shift is just one indication that businesses are increasing emphasis on corporate sustainability amid social and market pressures. Get the details on building sustainable supplier relationships. First and foremost, communication with your suppliers is key.

Stop Settling!


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.

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How Europe is Coping with Supply Chain Disruption


“It’s good to hear that suppliers filing for bankruptcy is not one of the most common impacts you’re seeing right now.” The broader issue is that border controls and travel bans limit the ability of supply managers to identify and qualify new suppliers.

Navigating COVID-19: Mid-term Procurement Strategies for a Managing the Crisis


According to the Financial Times , over 3,300 suppliers in China received force majeure certificates in February alone. It’s also important to develop recovery plans with your suppliers and make sure that they’re clearly outlined in contracts. Procurement and legal teams need well prepared, highly organized document management systems to systematically look at force majeure clauses are written. A full digital contract management suite can help with each of these tasks.

Supplier Management: The Best-in-Class Approach to Drive Performance

Supply Chain 24/7

This report will examine the comprehensive approach, taken by the Best-in-Class, toward Supplier Management. It begins with supplier selection, followed by establishing and measuring key performance metrics and ends with focusing on visibility with their suppliers to ensure ongoing success