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Collaboration across Tier 1, Tier 2, Tier 3, and beyond requires visibility and communication regarding capacity, cost, risk, order quantities, inventory levels, quality , timelines, logistics, and more. Collaboration brings visibility and agility for gaining market share.
Fully-automated spend categorization will boost visibility, free up time, supercharge advanced analytics, and improve decision-making. Importantly, technology can monitor contract expiry dates to prevent auto-renewals and provide the procurementteam with an opportunity to reconsider or renegotiate the contract.
But too often the expected deliverables from Supply Chain professionals are established without a real understanding of the totality and breadth of actual tasks that must be performed underneath those high level expectations. With an iceberg it is said that only 10% of it is visible as the rest is under the water.
The aim is to select the supplier that represents the best value and fit for the specific procurement need. Contract Negotiation After selecting the best supplier, the procurementteam negotiates final contract terms like pricing, service levels, delivery timelines, warranties, and other legal and commercial conditions.
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