Electrocomponents is a global multi-channel distributor. They offer more than 500,000 industrial and electronics products, sourced from over 2,500 leading suppliers, and provide a wide range of value-added services to over one million customers. With operations in 32 countries, they ship more than 50,000 parcels a day.
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.
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.
We are pleased to announce that DS Smith has chosen LeanLinking as their new supplier performance and compliance management platform.
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?
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.
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” 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.
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’ 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