Are supplier panels as outdated as your nan’s rug? Do they stifle innovation? Or are they a basic essential for every procurement pro’s toolkit? Supplier panels have been around forever. They are as old and ubiquitous as the crocheted rug on your nan’s couch. Just because they’re part of the furniture, does it make them … Continue reading Do Supplier Panels Deliver On Expectations Or Leave You Wanting More?
You might think that your most strategic suppliers are the ones you spend the most with. But supply chain crises may shine a light on which suppliers are actually strategic. Modern-day supply chains are truly global, highly complex and getting longer and longer. 20 years ago, most of a company’s suppliers were probably within a … Continue reading Suppliers: Who And Where Are Your 1%?
Considering this macro-economic turmoil, new research shows that most contracts and supplier partnerships held strong during the pandemic The early days of COVID-19 were financially tumultuous and incredibly stressful. For most business executives, uncertainty ruled the day: Would my contracts hold? Will I get paid on time? And will I have enough funds to pay … Continue reading What You Need To Know About Supplier Payments, Bankruptcies And The Financial Impact Of COVID-19
What are the decisions to make when planning for the next normal in outsourced services? As we slowly and cautiously, masks on and two meters apart, think about emerging from the COVID-19 crisis, there is quite a bit of uncertainty about what the world will look like when we step back outside. Knowing there is … Continue reading Navigating The Next Normal With Outsourced Service Providers
What does best practice supplier relationship management look like? Not like this… With sales at her company in freefall due to the Covid-19 crisis, the pressure was on for Sally’s* procurement team to reduce costs. In a desperate pitch to do what she could, Sally decided to issue a letter to all suppliers, asking for … Continue reading You Ask All Of Your Suppliers For A 5% Discount. What Can Possibly Go Wrong?!
At times of enormous disruption to global supply chains, it’s easy for procurement only to think about direct spend. But it’s just as critical to ensure value is delivered in outsourced service contracts. “Today’s health and economic crisis, as a result of coronavirus, means that typical approaches to cost management will need careful consideration as … Continue reading 5 Cost Levers To Pull Right Now With Your Outsourced Services
Motivate your suppliers rather than merely manage them As we have already seen in a former blog, enterprises often fail at maximizing the value of collaborating with smaller companies. 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 … Continue reading Supplier Motivation, A Key Component of Supplier Management