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.
Best Practice
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.
Carl Ras – A customer case
Carl Ras is a Danish family owned wholesale business, which is one of the largest suppliers of tools and fittings for professionals, institutions and industry in Denmark. Carl Ras has 16 wholesale centers, and now comprises more than 350 dedicated employees. Carl Ras wants to be the craftsmen preferred supplier. This requires their suppliers to deliver the right quantity at the right time every day.
Pros and Cons of Using SRM Software
Most medium to large size companies work with a huge number of suppliers, which fuels supply chain complexity. The number one mistake in procurement is that companies fail to properly manage their suppliers and the related external spend.
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.
