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

October 11, 2019
12

5 Ways a Supply Chain Management System Works Wonders!

In this article, you will learn about five ways a supply chain management system works to give your supply chain a competitive advantage. Read More.…
August 12, 2019
Things You should Know about your Supplier Network!
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Things You should Know about your Supplier Network!

A Supplier Network is a common, virtual platform where suppliers and buyers can collaborate and do business together from any part of the globe.…
May 13, 2019
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Supplier Performance Evaluation – A Quick Checklist

Vendors' evaluation is one of the significant aspects of a successful supplier. Here is the top checklist for suppliers' performance evaluation process.…
May 13, 2019
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A 5-Step Process to Effective Supplier Management

Supplier management in today’s globally competitive and dynamic marketplace requires new strategies and new capabilities. This blog defines a 5-Step process to effective supplier management.…
April 25, 2019
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8 Unique Phases of Supplier Lifecycle Management

The purpose of supplier lifecycle management is to recognize the right supplier and get better value while reducing associated cost & risk by ensuring the quality throughout the cycle. Supplier lifecycle management has eight unique phases to explore!…
April 23, 2019
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4 Formulas for Supplier Risk Management

Get to know the four formulas for supplier risk management and enhance your supplier risk management strategy.…
December 13, 2018
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Supplier Management–Benefits, Process, & Best Practices

Understanding Supplier Management – its Benefits, Process and Best Practices
December 5, 2018
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A Complete Guide to Vendor Management – its Benefits, Challenges, Process & Best Practices

Vendor Management Process is the most crucial aspect of organization functioning - Read more to know about Vendor management software  challenges, process & best Practices.…
October 10, 2018
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One Size Doesn’t Fit All: 5 Steps to Realize Micro-Segmentation

Taking the example of Dell which revolutionized its supply chain in the 90s with micro-segmentation or supply chain segmentation, organizations must follow these steps to implement supply chain segmentation to deliver the highest levels of customer service and satisfaction.…
October 10, 2018
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One Size Doesn’t Fit All: Why Supply Chains Need Micro-Segmentation?

Taking the example of Dell which revolutionized its supply chain processes in the 90s, organizations must strive towards implementing micro-segmentation or supply chain segmentation to deliver customer services of the highest level.…