The past few years have been very good to procurement organizations with their stable supply markets, limited price volatility, few global disruptions, more executive support for procurement programs than ever before, and an easing of internal pressure to deliver savings. But, procurement leaders must be wary of complacency and the risk of being left behind or caught unaware by the next market shift. Now is a great time for procurement teams to stave off boring, business-as-usual approaches and sharpen their souring and supplier management skills.
How and what you communicate during the sourcing process sets the stage for the resulting supplier relationship. And while that relationships may never become a true marriage of equals, there are several things that sourcing and supply management professionals can do to get things started on the right foot. Engaging with and managing suppliers is a key component of any Chief Procurement Officer’s priorities and focus. The procurement function’s relationships with its suppliers are typically the foundation of how sourcing and supply management programs perform.
This new research report ‘Seven Keys to Better Sourcing & Supplier Management‘ authored by Andrew Bartolini (Ardent Partners) in Association with Zycus highlights the seven important strategies and tactics that procurement organizations can use to drive savings while also maintaining and improving key supplier relationships. Utilizing these seven keys can serve as a catalyst to a series of processes that have a risk of becoming stagnant and repetitive over time.
For further reading, click on the download button below to access the report-Seven Keys to Better Sourcing and Supplier Management.
Learn More: Vendor Management Guide
