Holistic Supplier Management: Orchestrating the Procurement Function for Maximum Benefit
Orchestrating Supplier Management for Maximum Benefit
Supplier management is at the very heart of procurement and it is no easy task. Managing suppliers effectively to perform in harmony with your business strategy is rather like composing an orchestral piece of music and then conducting all the different instruments in the orchestra itself.
Each supplier needs to be treated on a case-by-case basis – but when you have hundreds of suppliers, that is challenging.
In this white paper you will learn:
How to distinguish between the different types of supplier – strategic, approved and basic
Why value and risk are more important than spend volume
How and why you should engage key stakeholders in supplier management
Supplier management best practices for different vertical industries
How to assess supplier performance, and actions to take