Living in a highly client-oriented time where businesses mostly focus on maintaining and improving client relationships, you shouldn’t look down upon the significance of good supplier relationship management. A healthy business model will essentially benefit from solid and long-term supplier relationships. Read more
Being an essential aspect of any larger business, procurement comes with a number of responsibilities and complex tasks. These include identification of buying needs, negotiation, vendor management, payment processing and the like.
When it comes to manufacturing, the right procurement processes can open doors to better cost management, risk reduction, stimulation of supplier innovation for higher competitive advantage, etc.
Supplier Relationship Management (SRM) techniques are strategic developments in businesses that are focused on optimizing and effectively manage the connections between third-party companies that supply goods and services to the business.
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.
One of the main priorities of many businesses is to build long-lasting supplier relationship based on trust and loyalty. However, this can be achieved only through a well-structured Supplier Relationship Management (SRM) process, which will establish a win-win relationship for both sides.
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.
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.
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?