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Category: Supplier Relationship Management

Do You Have the Capability to Build Good Supplier Relationships?

The business world is the most complex, interwoven, ever-shifting community on our planet. No man is an island? The saying is truer for an organisation. We are, in essence, only as strong as our supply chains. It follows, therefore, that building strong supplier relationships must be a core tenet of…
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Enhancing Supplier Relationship Management with an AI Co-Pilot

If procurement is about buying things (and it is), then it follows that supplier relationship management (SRM) is the lifeblood of this function. The problem is that supply chains have swelled to unwieldy levels and data is flying in at astronomical rates, making SRM more complex and difficult than ever…
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97 Reasons Why Suppliers Put Up Their Prices … and 11 Things to Do About It.

Strategies for Reducing Supplier Costs and Avoiding Price Rises If you haven’t already been hit by one of these 97 then chances are it’s right around the corner.  So you need to do something about it.  But what!  Check out our list below and highlight the ones that you think…
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How to Score 10 out of 10 With Your Supplier Relationship

A good supplier relationship can produce benefits for you that go beyond simply providing you with goods and services. But if the base of your relationship with a supplier is starting to crumble, it could cost you in other ways than just the price of their goods or services. Knowledge….
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Get to Know Your Business with a Commercial Business Review

External spend can typically run from 30 to 70 percent of a company’s total expenditure, depending on the industry. It’s a staggering amount – but it’s also an opportunity. This level of expenditure can be used to transform a business by not only reducing costs, but by achieving competitive advantage…
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Open vs Closed Tenders: the Benefits & the Downsides

Which tendering process is right for what you’re trying to source? Choose wisely – the wrong path can put you in bed with the wrong supplier, which always leads to unwanted ramifications for the broader business.  There are, obviously, many steps to the procurement process, but none more important than…
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4 Vital Criteria of Supplier Selection

Few things have more impact on a business than supplier selection. Who you work with and where you source your materials and resources determine your future success. This isn’t only about providing a product or service that performs as needed, but about what it took to create it. Price is…
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Negotiation Approaches in Procurement – 5 Key Tips

It’s one of the oldest art forms in the world, but that doesn’t mean negotiation doesn’t need an update every now and again. A pandemic, supply chain issues and high inflation have combined to transform the negotiation landscape in 2022. Tactics we once relied upon may be more damaging than…
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You Shouldn’t Have! How to Manage Gifts from Suppliers

It used to be de rigueur. Gifts from suppliers, particularly around the festive season, were commonplace and expected. Up until the end of the 20th century, tickets to corporate boxes at the footy match or meals at fine-dining restaurants were all part of doing business, and a gift policy rarely…
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How to Implement Proper Vendor Risk Management

For the vast majority of organisations, key strategic imperatives involve the use of third party suppliers. To achieve processing efficiency and cost savings, among other objectives, there’s simply no other way. But, as much as sourcing and offshoring initiatives are beneficial, they’re not without their risks. And as supply chains…
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