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

September 3, 2018
12

Supplier Performance Measurement: Keeping It Simple But Actionable

Learn about supplier performance measurement and how to keep it simple but actionable. Understand the supplier risks and how they play into the overall health of your organization's supply chain.…
June 13, 2018
12

These 6 Simple Steps can Build you a Strong Supplier Relationship

In this blog, you will learn six ways to build lasting relationships with your suppliers. With these strategies, you can advance your procurement successfully. Read More.…
June 12, 2018
12

Role of Procurement in Supplier Value Chain for Business Advantage

"Procurement is the process of obtaining the goods and materials that your business need, whereas supply chain management is the process of changing suppliers and coordinating logistics to deliver a certain product to your firm and its clients."…
May 31, 2018
12

7 Supply Chain Challenges for Procurement Leaders in the next 7 years

Supply chain is no more limited to ensuring reduced price and timely delivery of goods. Its expansive reach covers legal, sustainability, regulatory and ethical concerns that affect supply chain. In this article, you'll learn about 7 Challenges that Procurement leaders are going to face in the next 7 years.…
May 9, 2018
12

Impact of ASEAN Free Trade Agreement (AFTA) on Region’s Procurement

Learn how ASEAN Free Trade Agreement (AFTA) aims to benefit the 10 ASEAN countries and as a procurement company operating in the region, what technology should be adopted to make the most of this agreement.…
May 2, 2018
12

The Relevance and Irrelevance of Payment Term Extension

Wondering why certain cash-rich companies instead of paying their supplier in advance, go for payment extension? Wondering what is actually the best practice and technologies that are useful? Get your thinking glasses and visit the link to read more...…
March 30, 2018
12

Moving Beyond Supplier Financial Risk

Financial risk has been repetitively brought to the forefront as the key source of risk in a supplier-buyer relation. Supplier bankruptcy is most fear…
March 30, 2018
Automate Your Supplier Management Processes for Better Financial Performance
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Automate Your Supplier Management Processes for Better Financial Performance

More organizations need to start viewing supplier management with criticality to make a direct impact on the financial strategy. Enhancing…
March 29, 2018
12

Supply Chain Traceability and the Resurrection of Business Sustainability

To manage cost, may Easter Bunny compromise with the quality of chocolate made using substandard cacao beans sourced from poor soils, infected crops and labored by underpaid farm workers? Well, certainly not.…
March 21, 2018
12

In IT Buying, does Procurement play any role at all?

IT procurement refers to activities and procedures that must be followed to create business value and obtain information technology (IT) products and services.…