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?

5 Types of Supplier Management Tools That Make Life Easier

ProcurePort

The post 5 Types of Supplier Management Tools That Make Life Easier appeared first on ProcurePort Blog. Supplier ManagementThe procurement landscape has changed a lot since the onset of the coronavirus pandemic.

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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.

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.

Supplier Management Demo

ivalua

The post Supplier Management Demo appeared first on Ivalua

Evolving Supplier Management for Public Procurement

ivalua

The post Evolving Supplier Management for Public Procurement appeared first on Ivalua

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.

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?

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.

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

ivalua

They build strong supplier relationships to deliver on-time, high quality products and meet capacity demands. Given that sourcing and supplier management teams are responsible for building and maintaining supplier relations, they also have the opportunity to drive innovation. Through strong supplier management, you hold a key to helping your company tap into a much larger brain trust that extends beyond their own walls.

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?

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.

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.

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.

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?

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.

How to Strengthen Your Supplier Management Strategies

Jaggaer

The post How to Strengthen Your Supplier Management Strategies appeared first on Jaggaer.

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?

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.

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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.

Scottish Councils Deliver Streamlined Contract and Supplier Management

Jaggaer

“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.

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

CHAINalytics

At this point, most … The post Managing Your European Supply Chain Network: Tactical Responses to the Coronavirus Pandemic appeared first on Chainalytics. Blog Supply Chain Consulting Supply Chain Design distribution planning Flow Path Optimization Production Planning Scenario Planning strategic network design supplier management Supply Chain Network Design supply network planningCOVID-19 is testing the resiliency of supply chains worldwide and particularly in Europe.

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

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.

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.

5 Tips When Using Inventory Management Software

ProcurePort

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

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.

Solving the Procurement Data Dilemma: Using supplier data to drive successful relationships

HICX Solutions

Richard is professor and chair in Supply Chain Strategy at Cranfield University and has had a very distinguished career, both in Procurement and supply chain management.

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Solving the Procurement Data Dilemma: Using supplier data to drive successful relationships

HICX Solutions

Richard is professor and chair in Supply Chain Strategy at Cranfield University and has had a very distinguished career, both in Procurement and supply chain management.

Data 52

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.

Key trends in the vitamin and supplement industry: 2021 report

Unleashed

Typical firms will use nutraceutical software to support their own manufacturing, or to manage the process via contract manufacturers – handling purchasing, distribution, and sales and marketing in-house. Rising numbers of obese Australians are also driving sales of weight management products.

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.