Engage Early and Engage Often with Suppliers
Procurement professionals are always in dilemma about engaging early with the suppliers because it has the risk that later on other potential suppliers might claim that the process was unfair and few suppliers got an undue advantage.
However, early engagement is often a boon when it comes to categories with complex specifications and market volatility, wherein, talking to potential suppliers early in the process on areas of risk mitigation, innovation etc. could be of immense help. Irrespective of the maturity level of supplier management that organizations would be having, procurement team can unlock great values by sharing concerns, demonstrating proactivity in partnering with suppliers at a strategic level to partner in each other’s success.
To elaborate more on this topic Ardent Partners and Zycus are collaborating on a webinar series focused on the things that can help CPO’s get to the next level of procurement performance.
Webinar Topic : CPO Game Changer Series – Volume 1: Early Engagement
Andrew Bartolini, Chief Research Officer at Ardent Partners
Richard Waugh, VP Corporate Development at Zycus, Inc.
Key Takeaways :-
- Value & Benefits of getting sourcing teams engaged earlier in their projects without running in to problems
The difference between serving as an order-taker or as a strategic partner
In part two, we will look at how early engagement can capture ideas and innovation, again without getting on the wrong side of the regulations.