Procurement Insights
Why Supply Chain need its own Vision & Mission? Most of the Companies Overall Vision and Mission is defined and the same vision and mission is directive for their Supply Chain functions also. But the organisation who stands out from the crowd have specified vision and mission for their Supply chain functions. The foremost action […]
Effective supply management can boost company’s sales in many ways like helping companies to bring products early to market, improving product quality and pricing flexibility, driving supplier innovation and above all increased customer satisfaction. Let us discuss in details in coming paragraphs. Early to Market Supply management can help the organisation to bring the new […]
Procurement function is the center of attention because Procurement Savings have an immediate effect on the corporate result. Time and again, organisations complaints that they do not have any method to determine the performance of procurement function or say the Procurement Savings that can be related to companies profitability. I have tried here to relate […]
The concept of strategic sourcing was first introduced in 1994 by Toshihiro Nishiguchi Japanese Supply Chain Expert. He created a common strategic sourcing process based on multiple manufacturers across Japanese, German, and U.S. markets He was particularly focused Toyota Supply Chain issues. Subsequently, Strategic Sourcing has always been a most discussed topics among Procurement Professionals. […]
Be realistic -You will find a way! Never accept supplier price increase demand at face value. As a buyer Our job is to try to reduce and delay the impact of any price increase to our company. Next Ask for a face to face discussion regarding any proposed price increase demand from suppliers, Preferably at […]
Ignoring Supplier Relationship could shatter Supplier-Buyer bonds. A positive relationship between Supplier and Buyer is must to maximize value from business interactions. Why a sound relationships with supplier’s matter so much for successful procurement? Why You Need to focus on Supplier Relationship Management (SRM) It promotes collaboration between manufacturers and suppliers that ensures long-term benefits […]