Effective Supplier Management: Interview with: Brad Douglas, SVP Procurement & Supplier Management, SunTrust Bank, the Chairperson of the marcus evans Chief Procurement Officer Summit 2013, on effectively managing suppliers.

1. Effective Supplier Management
How could third party suppliers be This will eventually swing back to one
managed to that extent? of value and partnership. The
beginning of effective supplier
That is cumbersome and adds an extra management is ensuring there are
level of complexity. To be able to effective strategic sourcing processes
discern precisely what they do involves in place, which go through the
reporting from the supplier, making necessary due diligence when choosing
occasional site visits, testing for a partner to begin with and having the
quality control, performing mystery correct service level in the agreement.
shopper exercises, and so on. This will foster a better understanding
between the parties.
This will eventually force businesses to
question what they do in-house versus
Interview with: Brad Douglas, SVP what they outsource, which gets us
Procurement & Supplier back to the genesis of the make or buy
Management, SunTrust Bank decision.
Risk cannot be avoided, so companies
need to discern and decide what level
“As the sourcing function has evolved of risk they are comfortable with, and
Outsourcing
from being one that was not build a program around that. That is a
considered strategic to having a seat key attribute for putting together a
at the table, I do not believe that the proper supply management program.
will become
risk management component has
necessarily caught up with that. That What does a comprehensive
is going to become ever more critical supplier management program
more of a
to Chief Procurement Officers look like?
(CPOs) as they need to decide what
level of risk they are willing to take Comprehensive supplier management
balancing act
on,” says Brad Douglas, SVP puts the onus of managing the
Procurement & Supplier Management, supplier back into the business. That is
SunTrust Bank. the SunTrust methodology. This
means the business has to step up,
The Chairperson of the marcus evans exert more control and perform more
Chief Procurement Officer Summit rigor, according to the corresponding
2013, in Atlanta, Georgia, April 22-23, risk that a supplier presents to the
Douglas gives his take on what results company.
in effective supplier management.
What trends should CPOs prepare
Why is effective management of for?
suppliers critical?
As the sourcing function has evolved
In the financial services industry, there from being one that was not
is ever increasing governmental considered strategic to having a seat
regulations dictating that we need to at the table, I do not believe that the
manage our third party suppliers risk management component has
almost to the same extent that we necessarily caught up with that.
would do our own staff. Knowing Regulations will continue to increase,
exactly how they engage with our so outsourcing will become more of a
clients, following up on consumer balancing act, with companies having
complaints and measuring instances to decide what risk they are willing to
are all critical components. However, take on.
most business units are typically of the
mindset that if a supplier is performing Right now, in many industries, the
a task, it is out of sight, out of mind. pendulum is too far on the risk side.

2. About the Chief Procurement Officer Summit 2013
The Finance Network - marcus
This unique forum will take place at The Ritz Carlton, Buckhead, Atlanta, Georgia,
evans Summits group delivers
April 22-23, 2013. Offering much more than any conference, exhibition or trade
peer-to-peer information on
show, this exclusive meeting will bring together esteemed industry thought leaders
strategic matters, professional
and solution providers to a highly focused and interactive networking event. The
trends and breakthrough
Summit includes presentations on streamlining the purchasing function, supplier
innovations.
performance management, procurement technology and talent retention.
www.cpo-summit.com
Please note that the Summit is a Contact
closed business event and the
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To view the web version of this interview, please click here: www.cpo-summit.com/BradDouglas