7 Essential Attributes of Strategic Supplier Partnerships!

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Blog post originally published by Michael Massetti, Executive Partner at Gartner,  at https://www.linkedin.com/pulse/6-essential-attributes-strategic-supplier-michael-a-massetti/  and permission to publish here provided by  Michael Massetti.

 

Though the phrase partnership is often used, what really constitutes a strategic supplier partnership?

In a previous article about supplier management, I suggested that the more a supplier tells you that they are strategic, the less they really are. Strategic is a term that is often overused. Whether the phrase refers to sourcing, procurement, relationships, or other matters, its use is prevalent.

The notion of partnerships is equally ubiquitous and similarly both mis- and over-used. This article will identify a taxonomy for a strategic partnership between two parties.

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Procurement (Part 2) – How to Enable Spend Aggregation!

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Aggregating your procurement spend for the purpose of delivering greater value is a sound objective.  Theoretically you should be able to generate better service, better terms and conditions, and better cost.

Yet there can be many obstacles in your way to achieving this seemingly simple goal.  Loss of control, fear of job loss, questionable benefits, and a perceived loss of margin are some of the obstacles you may run across.  We discussed these in greater detail in our post Procurement (Part 1!) – The Spend Aggregation Obstacle Course!

You may be trying to aggregate spend within your company or across companies, or you are trying to outsource this to a Group Purchasing Organization (GPO).  To overcome the Spend Aggregation obstacles there are a series of enablers you need to enact to make this successful.

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Supply Chain Personified! The Link Between Your Company Silos!

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How many parts of your company act as independent silos?  How many functions in your company conduct themselves like they are islands?

One of the main problems in a functionally organized company is that those functions over time can become isolated from each other.  The responsibilities, metrics, skills, strategies and mandates for each function can cause people to put their functional focus ahead of the greater company objectives.

But the Supply Chain team is uniquely positioned to bridge all of these silos and islands.  Supply Chain is truly the link that can hold your company together!

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Outsourcing Sourcing! 5 Lessons from Around the Globe!

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Doing business with suppliers located overseas or in another country can be an overwhelming and daunting task even for expert Sourcing professionals.

Recently a friend of mine asked me to have lunch with him and one of his associates.  The other gentleman had invented a new product.  He had a marketing plan.   He knew what his cost point had to be on the product which meant that he had to have the product manufactured overseas.

But beyond that he had no idea on where to start to source his product.

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Procurement Bots – Transformer or Destroyer?

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Article created and originally published by “SK” Sanjeev Kumar Roy.  Permission to publish this article provided by “SK” Sanjeev Kumar Roy.

 

The last few years have seen a lot of real (and over) hype associated with the emergence of Software Robots (called Bots/Bot) which are disrupting the legacy procurement processes involving human interface.

This research paper introduces the concept and evolution of the Bots, their characteristics with focus on Procurement processes, the Pros and Cons and debates on the transformation of the procurement function (vs destruction of human interface).

In summary – Bots will have a high appeal on the transactional and digital side of procurement processes and will gain exponential growth in the coming years with the advent of cognitive and machine learning tools.

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Indirect Procurement – It’s Time to Rise and Shine!

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Indirect goods and services can be one of the largest areas of expenditure in any company.  And the operational impact that the provision of Indirect goods and services can have on a company can be significant, either positively or negatively.

Yet the lack of attention and focus that Indirect Procurement is often given is inconsistent with the true importance of this area.  Indirect Procurement takes a back seat to Direct Procurement unfortunately.

But it is time for Indirect Procurement to stand up and be counted!

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The Hottest Jobs in Supply Chain and Procurement! (Infographic)

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Blog post provided by http://argentus.com.  Argentus is a boutique recruitment firm focused on Supply Chain and Procurement.

 

It’s an exciting time to be involved in the Supply Chain and for Supply Chain jobs.  Across every industry, every geography and every country there are advances in Technology, the Internet of Things (IoT), Industry 4.0, Artificial Intelligence (AI), Blockchain and more.

But none of this can function without Supply Chain professionals.  Your expertise and experience are the backbone of developing the strategies and action plans for making these evolutionary and revolutionary improvements .

Continue reading “The Hottest Jobs in Supply Chain and Procurement! (Infographic)”