Resource Origin: My Purchasing Center

“What does procurement need to know about managing supplier relationships? It seems a silly question, considering that managing relationships with suppliers is in procurement’s job description. But, are procurement leaders really getting all of the value out of the relationships that they can? And, are suppliers benefiting as well?

These are important questions, ones we plan to answer for you in our new guide, Everything Procurement Needs to Know to Manage Supplier Relationships. In it, My Purchasing Center partners with SMART by GEP to bring procurement some of the best information published on supplier relationship management (SRM). Together we selected articles that describe what SRM is all about, why it’s important and the benefits it can bring your organization as well as your suppliers.

The guide begins with a roadmap to supplier relationship success. It describes the five stages of supplier relationship building. Articles dive into such topics as outsourcing and supplier diversity; success of these programs depends largely upon procurement expertise at managing relationships. Another examines supplier lifecycle management which procurement leaders can expect to hear more about in the months to come. The guide offers a profile of Cox Communications which developed a Center of Excellence to manage procurement’s tactical duties. Now, procurement can focus on supplier relationships. There is a look at best practices and how procurement contributes to the organization. A final piece examines ways procurement uses technology and how relationships between each tool can ultimately affect the way the company manages its suppliers—and its future…”

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Contributors: GEP
Categories: SIG U Resource, Whitepaper
SRC Type: Sourcing Management