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Supplier Diversity: From Checking the Box to Driving Business Strategy

ivalua

businesses proudly maintain robust supplier diversity programs. They have now moved from largely being a reporting exercise, to being a business strategy. These advantages include the increased competition that diverse suppliers bring to an organization, which can directly improve quality and drive down costs.

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Triggering results with better supplier information

ivalua

This can significantly impact the amount of time it takes to get to the point where the information is truly actionable — especially since you must make sure that data quality, consistency, and timeliness issues are resolved BEFORE you start taking action on the information now at your disposal. SO DON’T TRY TO BOIL THE OCEAN.

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New Ivalua study shows technology challenges are hindering procurement teams from achieving business objectives

ivalua

This is because organizations continue to face challenges when it comes to harnessing technology in procurement, with existing systems not being fit for purpose (36%), poor data quality reducing trust in information (36%) and staff having inaccurate expectations of what technology can do (34%).

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This is NOT thought leadership, it’s practical talk about Supplier Value Management

ivalua

To me and the team at Directworks, Supplier Value Management means selecting the best supply partners and effectively managing supplier relationships to capture greater value in a manner that helps drive your overall business strategy. So let’s forget about upstream vs. downstream and value creation vs value capture.

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The Future of Supplier Management is Here, and it’s Holistic

ivalua

Aligning suppliers to overall Procurement and broader business strategy is critical to create sustained long-term value. . A strategic and holistic approach to supplier management contributes to overall business strategy by: Establishing supply assurance and mitigating disruptions. Keep all other systems in sync .

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Thought Leadership: Knowledge – The Secret to Winning Fed Contracts for Prime Contractors

GovSpend

And with consensus, execution of business strategy becomes easier, and eagerness to address the customer higher. The greatest value from an investment made by any organization in a market research tool should minimize time to research information while enabling it to arrive at quality decisions.

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Industry pressure forces NASA to press pause on SEWP VI

Federal News Network

’ Technically, they have the right to do that, but it’s a much different tone and behavior and it doesn’t drive toward high-quality end result.” chairman and a member of the Small Business Committee, wrote a letter to the space agency detailing concerns about its small business strategy.