This new report by Andrew Bartolini, Chief Research Officer, Ardent Partners outlines the key best practices of supplier management by taking a 360° approach of the relationships that enterprises should have with their suppliers.
Following is a summary of the aspects being covered in this report along with the graphical representation of the same. To know the Best Practices, do download the report from the access link at the end of this blog post!
As per the Ardent Partners Research Supplier Collaboration is one of the top strategies used by CPO’s to drive more values in 2014.
- 90° – Supplier Identification
The best supplier management processes in the world will be for naught if the sourcing team fails to identify the highest-value supplier(s).
- 180° – Supplier Information Management
Effective supplier relationships are practically impossible without first having accurate and detailed Supplier information and enterprise level visibility into it.
- 270° -Supply Risk Management
Globalization has made geography and time less important to sourcing decisions and opened up new competition in many markets that sorely needed it.
- 360° -Supplier Performance Management
Supplier Performance Management (SPM) programs help enterprises grade and rate a supplier’s performance across all aspects of its services, products and contractual obligations.
Learn More: Vendor Management
