Supply Chain Game Changer

JULY 10, 2019

Supplier Relationship Management (SRM) is the hallmark of the Modern Procurement Function. In this article we are providing our list of 10 strategies for effective Supplier Relationship Management: Understand and Accommodate Supplier Interest. Leverage Supplier Capability and Innovative Capacities.

Supplier relationship management 67

Supplier relationship management Suppliers Strategy Management 67

Skill Dynamics

FEBRUARY 6, 2024

Supplier relationship management is a business strategy utilized by organizations to strategically build relationships with their suppliers that are mutually beneficial. The entire relationship needs to be considered from the point of view of growth. The three pillars that are key to SRM are as follows: 1.

Supplier relationship management 59

Supplier relationship management Suppliers Supply Chain Efficiency Management 59

ivalua

JANUARY 29, 2020

For the vast majority of organisations, suppliers must play their part when it comes to agile business and speed to market. Peter Smith will be discussing supplier collaboration at an Ivalua event on the evening of February 26 th in London – see more details here if you are interested in attending). .

Collaboration 164

Collaboration Innovation Agile and Lean Supply Chain Procurement 164

Una

MARCH 6, 2023

9 Innovative Purchasing Concepts for Procurement Implement various innovative purchasing concepts to ditch the old-school way of doing things and bring your procurement function up to speed. Innovative purchasing concepts Getting innovative in purchasing doesn’t necessarily mean leveraging the latest piece of technology.

Purchasing 98

Purchasing Innovation Agile and Lean Supply Chain Supplier relationship management 98

CPO Rising

NOVEMBER 1, 2024

In today’s world where globalization and innovation are critical to competitive survival, chief procurement officers rely on supplier specialization more than ever.

Vendor management 52

Vendor management Chief Procurement Officer Innovation Management 52

Skill Dynamics

AUGUST 15, 2022

Strategic supplier relationship management (SRM) is a key factor for driving competitive advantage for multi-national organizations. These models require both parties to have the following characteristics: mutual respect, an understanding of the mutual benefits of the relationship, trust, fairness, and honesty.

Supplier relationship management 52

Supplier relationship management Suppliers Strategy Management 52

Procurement Leaders

MAY 2, 2024

The CPO in question was relatively new to the role, full of enthusiasm and laser-focused on extracting innovation and value from the supply base, as you might expect. We spoke a lot about value creation, about supplier relationship management and about how he was structuring his team with that purpose in mind.

Supplier relationship management 130

Supplier relationship management Risk management Sustainability Leadership 130

Empowering CPO

MAY 31, 2023

Introduction In today’s interconnected world of business, Supplier Relationship Management (SRM) stands as a pillar of success for organizations across the globe. It’s the concerted effort of strategically planning and managing all interactions with suppliers that supply any goods and/or services to an organization.

Supplier relationship management 52

Supplier relationship management Collaboration Suppliers Supply Chain Efficiency 52

Empowering CPO

JUNE 27, 2023

This transformative practice enables organizations to delve deep into their purchasing data, gaining invaluable insights that can revolutionize their supplier relationship management (SRM) strategies. It acts as the catalyst that drives procurement excellence and organizational success.

Supplier relationship management 52

Supplier relationship management Suppliers Management Negotiation 52

SCMDOJO

OCTOBER 28, 2024

Strategic Supplier Relationships: By understanding the company’s long-term plans, procurement can build strategic relationships with suppliers who can support growth and innovation. Supplier Relationship Management: Regular performance reviews help build trust and strengthen relationships with suppliers.

Procurement 97

Procurement Supply Chain Optimization supply chain budgeting Supply Chain Efficiency 97

Zycus Cognitive Procurement

JULY 30, 2021

SUPPLIER RELATIONSHIP MANAGEMENT (SRM) MATURITY IS CORRELATED WITH PROFITABILITY. Hence, procurement teams are compelled to scale up, scale down, pause, or even accelerate processes depending on the market situation and current supplier dynamics. Learn More: Vendor Management.

Supplier relationship management 52

Supplier relationship management Suppliers Management Procurement 52

Jaggaer

OCTOBER 24, 2024

The Art of Supplier Collaboration: Best Practices to Build Lasting Partnerships Dynamic market changes and global events seem to create newer demands and greater pressure on procurement professionals. Innovation Innovation is especially important to organizations building a reputation as a first mover in some aspect of product design.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain software solutions 52

TYA Suite

AUGUST 6, 2024

At its core, procurement involves building and maintaining robust relationships with suppliers to ensure a seamless flow of operations. This is where supplier relationship management (SRM) plays a pivotal role. Maintaining strong supplier relationships requires ongoing communication and engagement.

Supplier relationship management 40

Supplier relationship management Suppliers Import Management 40

ivalua

MARCH 30, 2022

Conversely, some Procurement departments have discovered that non-strategic suppliers, or even tier two suppliers, offer them innovative solutions to alleviate the shortage. Learning from Supplier Relationships. Do you really know what your Suppliers do?

Suppliers 130

Suppliers Supplier relationship management supply chain software solutions Supply Chain Efficiency 130

ivalua

MARCH 13, 2019

The theme of the evening was “Unlocking Innovation from your Supply Chain” with presentations and discussion focused on insights, knowledge sharing and learning from the F1 Grand Prix Pit Stops. F1 Veteran, Mark Gallagher highlighting the impact of supplier innovations on pit stops – resulting in team success.

Supply Chain Efficiency 113

Supply Chain Efficiency Innovation Supply chain Bill of materials 113

Spend Matters

MARCH 11, 2024

So it was good to see a nice mix of both presenting at Procurement Strategies and Innovation (PSI) last week. PSI is a good place not only to hear from but to meet the innovators in this space, not just the developers and service providers but the people who interact with them.

Procurement strategies 111

Procurement strategies Innovation Strategy Procurement 111

Zycus Cognitive Procurement

JANUARY 31, 2023

As businesses strive to remain competitive in times of economic uncertainty, there is an increased need for effective supplier relationship management. A strong collaboration between the purchaser and suppliers can result in lower costs and better quality products, while driving innovation.

Supplier relationship management 40

Supplier relationship management Suppliers Management Supply Chain Efficiency 40

SCMDOJO

NOVEMBER 20, 2024

Collaboration is at its peak when forecasting is robust and solid industry relationships guarantee growth. Supplier relationship management and buyer-supplier relationships are highly essential and are kept as a demand for better outcomes. Strategic Implications Hinders business growth and innovation.

Inventory 98

Inventory Supply Chain Optimization Supply Chain Efficiency Real-time Visibility 98

ivalua

AUGUST 1, 2022

In doing so, they have improved supplier collaboration and created a greater capacity for resilience, innovation, and continuous improvement. . How do these organizations build their supplier management programs? Manage and mitigate the inherent risk of supplier relationships.

Suppliers 130

Suppliers Management Supply Chain Efficiency Supplier relationship management 130

Skill Dynamics

JANUARY 9, 2025

Capability 2: Supplier Relationship Management A supply chain is only as strong as the relationships within it. Developing strong relationships with the key stakeholders throughout your supply chain can lead to cost savings, a better customer experience, and higher resilience to any potential challenges that may arise.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Supply Chain Optimization Supply chain 52

Arkestro

DECEMBER 26, 2024

E-procurement implementation creates a direct connection between the supplier and buyer, helping to optimize business-to-business (B2B) and business-to-consumer (B2C) processes like emails, data entry, invoice management, purchase orders, and bids.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Procurement Leaders

DECEMBER 9, 2022

How important are supplier relationships to you achieving your goals, especially during times of crisis? Supplier relationship management has been key for Novozymes in terms of securing continuous supply.

Collaboration 162

Collaboration Supply Chain Efficiency Raw materials Supplier relationship management 162

Una

APRIL 13, 2023

Transactional suppliers may not be motivated to provide the highest quality products as they are not invested in the long-term success of the buyer’s business. Similarly, a transactional relationship may discourage suppliers from suggesting new ideas or innovations that could benefit both parties.

Suppliers 98

Suppliers Supplier relationship management Agile and Lean Supply Chain Supply Chain Optimization 98

Supply Chain Game Changer

NOVEMBER 28, 2018

The complexity of global supply chains – especially in organizations like GM – require hands-on relationship management of suppliers to ensure that supplier collaboration will lead to added value, and innovation. Supplier bases are a great source of potential innovation.

Innovation 59

Innovation Collaboration Suppliers Procurement team 59

ivalua

FEBRUARY 8, 2023

Procurement teams are now expected to manage a lot of moving parts — from supplier relations to spend, risk, compliance, contractual obligations, contingency plans and more — and a lack of visibility inhibits their ability to do any of that effectively. As businesses continue to pivot during the pandemic, creativity will be key.

Supply chain resilience 242

Supply chain resilience Supply Chain Efficiency supply chain budgeting Agile and Lean Supply Chain 242

ivalua

AUGUST 17, 2022

O-I Glass has chosen Ivalua after assessing technology and process gaps related to strategic sourcing, supplier relationship management, category management, vendor quality, sustainability, and compliance.

Sourcing 130

Sourcing Buying process Supplier relationship management Supply Chain Optimization 130

Spend Matters

NOVEMBER 14, 2024

Collaboration — The approach to supplier management that allows businesses to bring more minds together to solve problems and innovate, making the business a more attractive customer for the supplier. Technology — The enabler of SRM initiatives by improving communication and collaboration among all parties.

Suppliers 114

Suppliers Raw materials Collaboration Management 114

Procurement Insights

JANUARY 3, 2025

Shift Toward Value Creation : CFOs increasingly view procurement as a driver of enterprise-wide value , contributing to innovation, supplier collaboration, and strategic goals. Procurement is no longer judged solely on cost savings but also on metrics like risk mitigation, supplier diversity, and innovation impact.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Efficiency Procurement 52

Positive Purchasing

FEBRUARY 18, 2025

The survey also identified a significant need for training, particularly in regard to supplier relationship management and negotiation skills. Enhanced Relationship Building: Investing in SRM capabilities to foster trust, accountability, and innovation within supplier partnerships.

Procurement 52

Procurement Supplier relationship management Negotiation Contract 52

Procurement Heads

JANUARY 4, 2023

In 2020, I moved back into corporate life as Head Of Supplier Relationship Management with Coventry Building Society. We have teams that look after risk and excellence because in financial services we need to demonstrate to our regulators that we have appropriate controls in procurement and supplier management.

Supply Chain Efficiency 246

Supply Chain Efficiency Agile and Lean Supply Chain Sustainability Suppliers 246

Procurement Leaders

DECEMBER 9, 2022

By developing our strategy with increased transparency, setting some mutual objectives and governing our relationship much more closely, we believe we have helped to raise the importance of Ferring for key suppliers. What innovative initiatives have you put in place to help mitigate the impact of economic headwinds?

Suppliers 147

Suppliers Bill of materials Raw materials Supplier relationship management 147

Jaggaer

OCTOBER 24, 2024

That’s why supplier collaboration—that consistent, trusted, and responsive interaction between supplier and manufacturer—is pivotal to manufacturing success. Supplier Collaboration vs. Supplier Relationship Management What good is having the best suppliers if you can’t communicate well enough to leverage their products and skills?

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency Agile and Lean Supply Chain 52

SCMDOJO

SEPTEMBER 24, 2024

For example, companies like Tesla and Apple utilize this analysis to make key supply chain decisions, focusing on how each approach affects their ability to innovate, meet demand, and maintain competitive advantages. Watch The Future of Supplier Relationship Management (SRM) with the Suppeco Podcast video on the SCMDOJO YouTube Channel!

Supply Chain Efficiency 98

Supply Chain Efficiency supply chain budgeting Supply chain management Supply chain management 98

Procurement Tactics

AUGUST 16, 2022

It is obvious why it is important to have a strong relationship with your supplier. However, many organizations create problems for themselves due to a lack of supplier relationship management and the lack of strategic sourcing. . Evaluation of the supplier is the last step of the supplier management process flow.

Suppliers 130

Suppliers Supply Chain Efficiency Management Supplier relationship management 130

ivalua

APRIL 8, 2020

Convinced that their sizes and brands will attract suppliers anyway, they entrench themselves behind the gates of rigid procurement processes. They miss the huge opportunity of co-innovating with these businesses, especially startups, by failing to take a differentiated approach. That is why, the group fully plays the trust card. .

Suppliers 147

Suppliers Management Supply Chain Efficiency Innovation 147

Empowering CPO

JULY 3, 2023

These services often encompass a wide range of tasks, from supplier management and contract negotiation to spend analysis and process improvement. Amid the rapidly evolving business landscape, it is no longer sufficient for companies to merely manage their procurement operations – they must innovate.

Innovation 52

Innovation Strategy Procurement Management 52

Planergy

MARCH 19, 2025

How better management in AP can give you better flexibility for cash flow management. Letting suppliers know about expected order volumes in periods of high demand helps avoid shortages. Suppliers can, in turn, share insights about product innovations or potential delays to allow schools to plan effectively.v

Suppliers 52

Suppliers Management supply chain budgeting Supply Chain Efficiency 52