Do you want to start a serious SRM program but don’t know how to convince your CFO/CEO about the investment needed? Then please continue reading.
Author: Lars Kuch Pedersen
5 steps to implement your own SRM program
Many procurement leaders have asked us how to plan and implement an effective SRM program. In this article we will present five key steps to ensure an effective SRM program is implemented.
DS Smith selects LeanLinking to drive supplier performance and compliance
We are pleased to announce that DS Smith has chosen LeanLinking as their new supplier performance and compliance management platform.
The number one mistake in procurement
The number one mistake that most companies make in procurement is that they do NOT manage their suppliers. Now what do I mean by that?
SRM eats cost saving for breakfast
The ability to generate impressive cost savings is not what separates great procurement teams from the rest. Those who truly stand out are the procurement teams that figure out how to manage the value chain and hence also the suppliers and are able to return real value to the company and its customers.
Why is procurement not on CEO’s agenda?
There is a lot of talk in procurement environments about the role of procurement within companies. Chief Procurement Officers from even large multinationals with billion-dollar procurement budgets ask each other questions like: “Why is Procurement not on the CEO’s agenda?” and “Why is Procurement not strategically important?”
Don’t manage costs. Manage suppliers.
“Don’t manage costs. Manage suppliers” is our motto. Why? Because it makes financial sense.
In this article, I will shortly explain the reasons for this motto and explore why procurement should pay greater attention to the supplier management practice instead of having a narrow focus on price and cost saving.
What is SRM?
Recently, an honest procurement leader asked us the question: ‘What is SRM?’
I think this is a very relevant question, as there seems to be no consensus on what SRM really is. In my experience, you can ask ten CPOs this question and you would probably get ten different answers.
Spendmatters recommends LeanLinking
Spendmatters’ Jason Busch and Michael Lamoureux have been reviewing LeanLinking and have recommended the solution. They state that “LeanLinking goes beyond the basics of managing supplier relationships.” Read more
6 signs you need SRM
Numbers and spreadsheets are not enough: Six crucial signs you need an SRM agenda now!
Currently you may get along well enough using tools such as Excel, online surveys, contract management tools and data warehousing to manage the procurement function. As businesses and procurement evolve and become more complex, so does your relationships with your suppliers. Read more
