The Why, What And How of the supplier management in procurement
Download the whitepaper to understand the importance of supplier management in procurement:
- According to a recent Hackett Group 2013 study, 64% of the responding organizations cite Supplier Relationship Management as โmajorโ or โcriticalโ. Another 56% of the organizations cite Reducing Supply Risk as โmajorโ or โcriticalโ
- In a study conducted by Zycus among procurement professionals, 81% of Europe-based organizations and 78% of Asia โ based organizations have invested or are planning to invest in supplier management solutions
The above statistics highlight the growing significance of supplier management solutions in strategic procurement.
Recently Peter Smith, Managing Director, Spend Matters, UK / Europe in his white paperย Putting the Supplier at the Heart of Procurement Thinkingย suggested that, โthe time may have come for procurement executives and organizations to putย Supplier Managementย at the heart of their strategyโ
Managing supplier information manually or with home-grown tools is a resource consuming process. Lack of information repository may result in duplication or loss of data. Additionally, lack of proper evaluation processes may result in working with incompetent suppliers, even when there are superior suppliers available.
Resource
Download the whitepaper to understand the importance of supplier management in procurement:
- According to a recent Hackett Group 2013 study, 64% of the responding organizations cite Supplier Relationship Management as โmajorโ or โcriticalโ. Another 56% of the organizations cite Reducing Supply Risk as โmajorโ or โcriticalโ
- In a study conducted by Zycus among procurement professionals, 81% of Europe-based organizations and 78% of Asia โ based organizations have invested or are planning to invest in supplier management solutions
The above statistics highlight the growing significance of supplier management solutions in strategic procurement.
Recently Peter Smith, Managing Director, Spend Matters, UK / Europe in his white paperย Putting the Supplier at the Heart of Procurement Thinkingย suggested that, โthe time may have come for procurement executives and organizations to putย Supplier Managementย at the heart of their strategyโ
Managing supplier information manually or with home-grown tools is a resource consuming process. Lack of information repository may result in duplication or loss of data. Additionally, lack of proper evaluation processes may result in working with incompetent suppliers, even when there are superior suppliers available.