All posts for Supplier Relationship Management
Vendor management optimizes production and profit by fostering strong third-party relationships. Strong communication, collaboration, and trust help satisfy customer needs and streamline your supply chafin.
Read moreOne of the keys to an effective agreement management process — and impactful procurement — lies in maintaining contract visibility. In this blog, we discuss why visibility is so critical to your mission and how automated solutions can help you achieve it.
Read moreCompanies who focus on optimizing their procurement process cycle begin to experience more cost savings, make better purchasing decisions, have more visibility over the process and are able to exercise greater compliance, amongst other things.
Read moreSelecting first-rate suppliers and weeding out low-performers is key to reaching your supplier relationship and compliance management goals. Here are some important questions that you should be asking any potential suppliers during the selection process.
Read moreAll organizations, regardless of size are susceptible to invoice fraud. Significant increases in the number of people working remotely has lead to reduced visibility and control over AP processes and subsequent increases in fraudulent activity.
Read moreIn order to make sure your procurement department is making the best choices possible, it is important to understand the nuances related to indirect spend management compared with direct spend management.
Read moreGlobal supply chains have been severely disrupted since 2020. It is vital that organizations prepare for further disruptions with resilient and adaptable plans.
Read moreVendor relationship management is vitally important to every organization. If managed correctly, vendors can have a significant positive impact on company growth.
Read moreSupply chains can be complex and difficult to manage, particularly when several suppliers and products/services are involved. Organizations should prioritize supply chain optimization in order to achieve efficient product/material flow and financial flow.
Read moreOver the last few months, many organizations have seen a major disruption to their supply chain which has seen a need to focus on cash flow in order to mitigate damages to the business.
Read moreAre all eyes on crisis management during these unprecedented times? Here are the top five priorities to focus on, to help you through Covid-19
Read morePre-approved spend is a process that empowers specific individuals, departments or teams to take greater control of their spending while still complying with established procurement procedures.
Read moreThe foundations for your business relationships with suppliers are established during the supplier onboarding process. Certain strategies should be adopted to establish amicable and successful business relations with suppliers during the onboarding process.
Read moreThere are a number of ways that your organization can enhance supplier relationship management. SRM is all about interacting with suppliers and ensuring that there is a good relationship to ensure good pricing, quality products, and fast turnarounds.
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