Navigating Tariffs: The Power of a Dynamic Approved Supplier List Let’s be honest — your traditional Approved Supplier List (ASL or AVL) isn’t cutting it anymore. It’s static, outdated, and far too slow to keep up with today’s supply chain demands. When tariffs suddenly shift or global disruptions hit, procurement teams are left scrambling — […]
Navigating Tariffs: The Power of a Dynamic Approved Supplier List Read More »
Collaboration is quickly changing the way we live. We use Waze to find the fastest route to work, we sort through reviews on Yelp to find the best place to eat, and we visit Airbnb to find a more interesting place to vacation. Supplier managers I speak with are eager to reap the benefits of
3 Ways to Boost Procurement’s Strategic Impact Read More »
Implementing category or commodity strategies enhances business efficiencies by optimizing processes. Organizations should maintain contractual relationships with suppliers and facilitate procurement change initiatives within categories to improve overall business performance. Does the following all-too-common scenario sound familiar to you? For example, the manufacturing team has a category manager who is doing a terrific job. She
Using SRM to Automate Category Management Read More »
PayPal co-founder Max Levchin once said, “The world is now awash in data and we can see consumers in dramatically clearer ways.” What Max did not mention is that thanks to all this data, companies can now see their suppliers in much clearer ways, too. This begs the question, is your procurement department making the
Going Beyond Traditional Spend Analytics to Identify Risks and Drive Change Read More »
Cost efficiency is a vital objective for companies aiming to maximize profits and sustain growth. It usually involves optimizing processes, reducing expenses, and improving productivity without compromising the quality of products or services. This blog post delves into cost efficiency in procurement. Specifically, we will highlight the strategies that should be considered to drive successful
Cost Efficiency- An Explanatory Guide and Implementation Strategies Strategy Read More »
Supplier Relationship Management (SRM) is a systematic approach that helps in the evaluation of suppliers providing essential goods, materials, and services to your organization. It is a vital aspect of supply chain management that focuses on assessing each vendor’s strategic importance and measuring performance via supplier scorecards. Strategies to enhance supplier performance are then developed
Supplier Relationship Management – A Comprehensive Guide to SRM Goals and Strategy Read More »
