How effectively and efficiently is your risk management program helping you manage supplier risk? Supplier risk management is normally a top priority in most organizations. The initial challenge is typically...
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Has complacency set in with any of your key suppliers? Do you remember when you first became their customer? Service was fantastic, or their products exceeded your expectations. Wouldn’t it be great if every...
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I was very fortunate to spend some time “down under” in Australia recently and it made me think about assessing and mitigating risks since I enjoyed some trips into remote areas. Fin was a local tour guide...
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For most companies, finding a sufficient number of qualified suppliers is not the issue. Consistent participation is a bigger challenge. Do you continually chase suppliers to get them to respond to RFPs? If...
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How well do you know your suppliers and how well do they know your business? To be successful in procurement it can be helpful to take a similar approach to a sales executive. I spent a significant part of my...
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Building a strong collaborative relationship with your vendors can deliver a lot more than cost savings. In my experience, every organization has vendors that it depends on. The best relationships can...
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The professionals with the most success in negotiations come prepared. Preparation allows them to seamlessly adapt regardless of the tactics the supplier uses. If you watch great coaches in sports they always...
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Most companies would like to do supplier surveys and score them but response rates tend to be low. Finding out how motivated your suppliers are to do business with you is very useful for the bottom line. If...
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