Most Procurement organizations are adept at driving cost savings and discounts from their suppliers. But are they really getting value in focusing only on this?
Join this buyer-seller panel discussion to learn how to become "customer of choice" even in the tightest of supply markets by building multi-faceted supplier management initiatives that provide transparency, foster collaboration, and share risks and incentives with key suppliers.
Communicate:We all recognize communication plays a critical role in ensuring an organizations expectations are meet. From the initial sourcing process to contracting, implementation, and continuous performance management; effective communication by both parties is what provides transparency (Example: RFP Process)Transparency and Collaboration:Once the foundation for collaboration is cemented, the relationship will take shape through trust, transparency and communicationKnowledge Management, Reporting Requirements, and Performance Management are staples in the supplier management process. As you collaborate with suppliers, they will embed an additional level of knowledge regarding the industry of which you may not have know about. Our vendors are the Industry Experts (Example: Grease Trap Pumping)Reporting requirements serve as a two way communication source. From an organization, I expect for my supplier to address any outliers within the report with me. Additionally, we will be monitoring reports as a portion of performance management.Win-Win Situation: (Example: Car Industry Contract Negotiations)Our relationship should reduce risk and ensure we are meeting any compliance requirements that may existWhen it’s all said in done, our relationship should be a win-win situation which maximizes value beyond cost savings via communication, transparency, trust, and collaboration.
Ariba Live 2013:We all recognize communication plays a critical role in ensuring an organizations expectations are meet. From the initial sourcing process to contracting, implementation, and continuous performance management; effective communication by both parties is what provides transparency (Example: RFP Process)Transparency and Collaboration:Once the foundation for collaboration is cemented, the relationship will take shape through trust, transparency and communicationKnowledge Management, Reporting Requirements, and Performance Management are staples in the supplier management process. As you collaborate with suppliers, they will embed an additional level of knowledge regarding the industry of which you may not have know about. Our vendors are the Industry Experts (Example: Grease Trap Pumping)Reporting requirements serve as a two way communication source. From an organization, I expect for my supplier to address any outliers within the report with me. Additionally, we will be monitoring reports as a portion of performance management.Win-Win Situation: (Example: Car Industry Contract Negotiations)Our relationship should reduce risk and ensure we are meeting any compliance requirements that may existWhen it’s all said in done, our relationship should be a win-win situation which maximizes value beyond cost savings via communication, transparency, trust, and collaboration.