Supplier Relationship Management (SRM)

Top 5 Strategies to Improve Relationships with your Suppliers

Posted: 06/24/2021 - 09:00
Top 5 Strategies to Improve Relationships with your Suppliers

Supplier management is something that many companies overlook. Customer satisfaction is the natural focus for businesses, but it's not the only relationship you should be cultivating, as it is also critical to have a good relationship with your suppliers. supplier relationship management is a domain in which all companies can excel because it has far-reaching implications.

The Future of Supplier Collaboration

Posted: 06/02/2021 - 03:11
The Future of Supplier Collaboration

Supply chain resiliency took on a new meaning in 2020. In the first few months of the pandemic, suppliers and procurement teams alike were left scrambling, desperately trying to maintain business continuity. The situation called for unprecedented levels of collaboration and visibility, which many organizations were not able to meet.

Are You Ready for the Next Crisis?

Posted: 05/10/2021 - 09:00
Are You Ready for the Next Crisis?

The COVID-19 pandemic created a crisis of epic proportions and left leaders in every industry scrambling to react. Procurement leaders across the globe saw the weakness in their supply chains and needed to reinvent their ability to manage the data in order to make critical decisions. In fact, according to a recent survey by the Institute for Supply Management, upwards of 75% of companies saw supply chain disruptions in the wake of COVID-19. 

Money talks: Making the Case for Sustainable Procurement Investments

Posted: 08/01/2019 - 00:04
The business benefits and value derived from robust responsible procurement programs can be remarkable, such as driving uplift revenue by 5% to 20%, reducing supply chain costs by 9% to 16% and increasing brand value by 15% to 30%. Creating such programs requires investing in key internal areas, such as new tools, staff and strategies to reap the value that’s possible.  
 

Unleashing Supplier Value

Posted: 07/05/2019 - 04:56
Procurement is being presented with a good problem to have. Within most organizations, most categories have been sourced many times. However, procurement is still being asked to deliver incremental value to the companies they support and are now challenged to achieve value beyond just pricing. Due to this, 70% of procurement leaders report that finding more value from suppliers is their number-one tactic to increase procurement’s value in 2019 (Gartner SCM World Future of Supply Chain Survey, 2018).

Whatever You Call It, Outsourcing to Puerto Rico Is a “Shore” Thing for U.S. Businesses

Posted: 02/27/2019 - 07:38
Puerto Rico may suffer a severe identity crisis when it comes to naming its category of outsourcing. It’s not really offshoring from the U.S.…nearshoring may be a better term. But as a U.S. territory, is it technically onshoring? When one thinks of that term, an image of open spaces in Oklahoma or Michigan come to mind – and that’s definitely not Puerto Rico. Do you see the dilemma? 
 

Another Brick in the Wall, Part 3: In the Flesh?

Posted: 08/18/2018 - 05:38
Perhaps more than any other category, the involvement of human capital in construction sourcing is paramount when it comes to outcome success or failure. The sheer volume of manpower involved in the overall process — from the acquisition to engineering to materials supply chain to hundreds of craft labor involved in the actual build — puts the management of relationships in critical focus. There is a reason that only 5 percent of construction projects meet their budget and schedule targets.

Adopt a “Two-in-a-Box” Partner for Efficient Outsourcing Governance

Posted: 04/06/2018 - 22:41

Supplier Relationship Management (SRM) is all the rage and for a good reason. Far too many “strategic” contracts have been developed (especially outsourcing contracts) that do not include sound SRM practices. 

It’s good to see that virtually all of the major advisory firms are now incorporating solid governance frameworks into their contracts. Software companies are also making inroads, such as Old St Labs and SirionLabs

Subscribe to RSS - Supplier Relationship Management (SRM)