Supplier Management

Supplier Management Blog Posts

Supplier management is the process of overseeing and working with suppliers to ensure that they provide the best possible products or services to the company. This can involve activities such as selecting suppliers, negotiating prices and contracts, verifying the quality of products or services, and managing supplier relationships.

How significant is supplier management in the procurement industry

In the procurement industry, vendor management is an essential part of conducting business. By working with suppliers effectively, procurement professionals can ensure that they get the best deals and the best products or services for their company.

Things to Keep in mind while functioning in supplier management:

There are a few key things to keep in mind when it comes to supplier network. First, it’s important to select the right suppliers. This means finding suppliers who can provide quality products or services that meet the company’s needs. It’s also important to negotiate prices and contracts that are fair and favorable for the company. Finally, it’s important to manage supplier relationships effectively. This includes maintaining good communication, addressing any issues that arise, and working together to find solutions.

By following these tips, procurement professionals can ensure that they are getting the most out of their supplier relationships. Supplier management can be a complex process, but it’s a crucial part of doing business in the procurement industry

Must Read Supplier Management Blog Posts

Learn More: Vendor Management Guide

A 3-step guide to Supplier Risk Mitigation: COVID-19 and beyond

Introduction: Supplier risk mitigation has become very important, especially in these times. The two key themes to come out of…

1 year ago

How Supplier Risk Management needs to evolve in 2021

The pandemic has taught us supply chain professionals a precious lesson in supply chain risk management. The pandemic has put…

1 year ago

COVID-19: Top 3 Smart Tools for Procurement Teams in 2020

Currently, the entire world is facing a dangerous crisis like the Covid-19. Therefore procurement teams can use smart procurement tools…

2 years ago

Zycus Put Forward the Road Map for Middle Eastern Procurement

The future of procurement in the coronavirus era is uncertain. The recent coronavirus pandemic and subsequent work from home (WFH)…

2 years ago

Procurement Driven Competitiveness

The buyer supplier relationship holds significant importance in the current scenario. Do you remember Porter’s Five Forces Model? This theory…

2 years ago

The Changing Face of Retail Supply Chains

A retailer is a final stop for goods in a supply chain before the consumer buys the product. Therefore, being…

2 years ago

Can procurement technology boost your brand? Yes!

McKinsey & Company has revealed that brands with strong reputations generate 31% more return to shareholders than the MSCI World average.…

2 years ago

5 Ways a Supply Chain Management System Works Wonders!

Today, we will discuss five ways a Supply Chain Management System delivers to the supply chain effectiveness of some of…

3 years ago

Things You should Know about your Supplier Network!

In this article, you will learn things about the supplier network that is crucial to your procurement's success. Companies relying…

3 years ago

Supplier Performance Evaluation – A Quick Checklist

Organizations with a global footprint, find managing a supplier base and corresponding sets of varying business rules quite tricky. It…

3 years ago