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Part I: Building Business Cases and Driving Momentum. Supplier diversity programs are something many procurement professionals in the United States (U.S.) But since its inception more than 50 years ago, supplier diversity programs have spread beyond public procurements and now many privately held U.S.
In my last blog post , I talked about how the need for better supplier information was a dominant theme across the automotive industry, as well as for many other discrete manufacturers. The impact suppliers have on the products you make and sell, good and bad, is just too significant to be ignored. Here are three examples.
Convinced that their sizes and brands will attract suppliers anyway, they entrench themselves behind the gates of rigid procurement processes. They miss the huge opportunity of co-innovating with these businesses, especially startups, by failing to take a differentiated approach. In fact, they ask suppliers to assess Procurement too.
That said, I concede that Pierre made some very good points about the confusion created by the traditional upstream/downstream, linear way of thinking about sourcing and supplier management. I’m going with Supplier Value Management. Let’s get busy working on Supplier Value Management.
The Future of Supplier Management is Here, and it’s Holistic. Leading, high-performing procurement organizations share one common trait–they consistently prioritize a holistic and integrated approach to Supplier Management. In fact, they go beyond simply supplier management, what they do is Supplier Engagement.
In my last blog post , I talked about how the need for better supplier information was a dominant theme across the automotive industry, as well as for many other discrete manufacturers. The impact suppliers have on the products you make and sell, good and bad, is just too significant to be ignored. Here are three examples.
That said, I concede that Pierre made some very good points about the confusion created by the traditional upstream/downstream, linear way of thinking about sourcing and supplier management. I’m going with Supplier Value Management. Let’s get busy working on Supplier Value Management.
Key findings include: 97% of advanced procurement departments say procurement strategy is well aligned with overall businessstrategy versus only 14% of beginners. “Increasing adoption of technology will allow procurement teams to gain complete visibility into all suppliers and spend. .
In today’s turbulent business landscape, the challenges facing organisations have become increasingly complex, with uncertainty from geopolitical events such as Brexit and tariff negotiations impacting day-to-day operations. Leading the charge in navigating this constantly shifting trading environment is the Procurement department.
Redwood, CA – 14 th September 2021 – Ivalua , a leading global spend management cloud provider , announced today the results of a commissioned study conducted by Forrester Research on behalf of Ivalua which shows that companies have been prioritizing CSR initiatives as part of their core businessstrategies – and it has paid off.
Key findings include: 97% of advanced procurement departments say procurement strategy is well aligned with overall businessstrategy versus only 14% of beginners. . Increasing adoption of technology will allow procurement teams to gain complete visibility into all suppliers and spend.
Some phrases or acronyms you may have seen around this topic include: disadvantaged business enterprise (DBE); diversity, equity, and inclusion (DEI); or supplier diversity. At what point did diverse suppliers or small suppliers become a priority? Put in as much effort as you can so your target businesses don’t have to.
The role of procurement has transformed over the last decade, from cost-cutter to a vital ally that can inform and enable businessstrategy. Role of Procurement is not what it used to be. COVID-19 has only served to cement the procurement department’s status as a key stakeholder.
The role of procurement has transformed over the last decade, from cost-cutter to a vital ally that can inform and enable businessstrategy. COVID-19 has only served to cement the procurement department’s status as a key stakeholder.
Add sourcing workflow to the mix, and introduce machine learning that can link directly to the supplier and track savings, then you can start to see where the science comes in. But now with strategic sourcing and category management, the process has become much easier to track, monitor and control.
Against this backdrop, a company’s social licence to operate is critical for delivering businessstrategy and avoiding disputes that delay projects or impact reputation. Australia will continue to be a major supplier to the Asia-Pacific region, and also accounts for a lot of the developments in LNG infrastructure.
One of the things that we’ve uncovered is that 75% of the women owned businesses surveyed reported that corporate and government contracting is really critical to their businessstrategy. And so it’s not just a statistic.
When a single supplier is the only option for your procurement needs, understanding the nuances becomes essential. This step is crucial to ensure that the selection of a single supplier is justified as the only available source for a product or service. But what happens when only one supplier can fulfill a specific requirement?
Competitive bids need to be issued; policies updated: contracts need active oversight; staff hiring and retention; trade agreement obligations; supplier performance evaluations; or Indigenous engagement must be factored in to the decision-making. Supplier performance had never been measured. Inventory fulfilment rates were low.
Competitive bids need to be issued; policies updated: contracts need active oversight; staff hiring and retention; trade agreement obligations; supplier performance evaluations; or Indigenous engagement must be factored in to the decision-making. Supplier performance had never been measured. Inventory fulfilment rates were low.
Prediction 3: Procurement will drive critical businessstrategies in 2021-22. The next big trend outlined in Bartolini’s presentation is Procurement’s growing business impact. We expect sourcing leaders will be reevaluating their suppliers and bringing more RFPs to market.”. Ardent Partners Big Trends, February 2021.
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