In the earlier blog we talked about what it takes to lay a strong foundation to build effective supplier relationship. In this blog we will discuss stage 2 on the path to supplier excellence.
The second stage is IMPLEMENT SUPPLIER INFORMATION MANAGEMENT.
Large organizations have a vast supplier base with tiers of suppliers stretched across the globe. This translates into multitude of…
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In the previous blog we discussed the need to maintain good relationship with the suppliers and the benefits that come along with effective supplier management. We also listed the 3 stages for supplier management.
The first stage is FOUNDATIONS OF AN EFFECTIVE SUPPLIER RELATIONSHIP
In order to manage suppliers in a way that benefits both the organizations and the…
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In the fight to increase market share, organizations need to come up with innovation in their products/services or upgrade it by adding new features in order to satiate the changing consumer preferences. To make this a reality organizations are dependent on their suppliers to supply the essential raw materials/services.
Suppliers have a direct impact on an organization’s product/service quality, competitiveness and also product innovation. This mandates maintaining a good relationship…
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In our earlier blog we discussed why most of the Procure-to-Pay initiatives are unsuccessful when it comes to organization wide adoption rate. That with so many amazing shopping portals like amazon.com or any other B2C consumer websites the P2P users expects that level of convenience while carrying out a transaction.
In this blog post we will discuss how can organizations ensure that…
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Benchmarking from the Aberdeen Group’s 2010 “Effective e-Procurement” found that on average, 16% of all transactions that start in the e-Procurement system actually get completed outside the system. This implies that even though the users intended to use the e-procurement system, they eventually opted out and continued with their transaction elsewhere.
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In our previous blog on Building an Effective Contracting Process – What are the challenges? Part 1 and part 2, we discussed the difficulties in managing the contracting process. We also discussed ways for improving contract governance within the organization. (Click here)
In this final blog post, we will talk about 2 more ways for leveraging technology as…
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Till now we discussed the significance of having a good contracting process and the challenges (part 1 and part 2) faced in building an effective contracting process.
In this blog we will discuss the possible ways to fight the challenges within the contracting process. They are,
1. Resolving the visibility challenge by
…
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In our earlier blog we discussed 2 common challenges associated with a decentralized paper based approach for contracting. They were – Lack of visibility and Issue with compliance.
Today we will discuss 2 more challenges. They are;
1. Difficulty standardizing contract terms
Organizations often face challenges with standardizing contract terms and templates on account of the following reasons;
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In the previous blog we discussed the significance of contract governance and the need to have an effective contracting process that monitors the contract throughout its entire life cycle.
In this blog we will focus on the challenges faced by organizations following a decentralized paper based approach for maintaining contracts. The most common issues are;
1. Lack of visibility
Disparate data spread across the offices of…
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Wal-Mart issuing a Zero Tolerance policy for suppliers subcontracting work or Tesco severing ties with its horsemeat supplier highlights the significance of contract governance. The global nature of supply chain has made conducting business a very complex task for organizations.
Organizations have long used contracts to conduct business. It provides the framework within which the organization carries out activities and tries to mitigate risks. With tight regulatory norms, a well…
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