How to optimize supplier management in your company
Posted: Sun Dec 15, 2024 6:50 am
Supplier management , also known as procurement , is fundamental to business strategy. To optimize it, you must know its phases in detail. You will have to focus on the identification of the need, negotiations , receipt of offers, selection and payment of suppliers , etc.
Start of marked textSHARE IT! Supplier management is more than just issuing purchase orders. Take note of all its phases and tips to optimize it!End of marked text
In addition, new technologies have completely changed the way companies operate. If you want to achieve real optimization in supplier management, electronic administration through an ERP 360 can be very useful.
Two good options are Sage 200 , the best ERP for transportation email list SMEs, and Sage X3 , for larger businesses and with sector adaptations.
Procurement or supplier management, what is it?
It may be the fundamental pillar within the supply chain . This involves a succession of phases that prepare for the acquisition and others that take place after it.
Before placing an order, you need to know what you need, how much you're going to spend, and who you're going to order it from and how. But even when executing the purchase order , you'll need to finalize details, initiate contacts, make inquiries, and conclude negotiations. Later , you may need to perform other checks, make payments, monitor the execution of the order or compliance with the agreed conditions, and so on.
One thing is clear: each link in this chain depends on the others . For example, it is very difficult to choose the right supplier if you do not have the means to verify that they meet expectations .
And no less important is the design of the supplier experience . Investing efforts in improving it makes it easier to find stable relationships that add value to your business. To develop trust, you must have control over the data on the aspects that influence the relationship , before and after formalizing a transaction.
Start of marked textSHARE IT! Supplier management is more than just issuing purchase orders. Take note of all its phases and tips to optimize it!End of marked text
In addition, new technologies have completely changed the way companies operate. If you want to achieve real optimization in supplier management, electronic administration through an ERP 360 can be very useful.
Two good options are Sage 200 , the best ERP for transportation email list SMEs, and Sage X3 , for larger businesses and with sector adaptations.
Procurement or supplier management, what is it?
It may be the fundamental pillar within the supply chain . This involves a succession of phases that prepare for the acquisition and others that take place after it.
Before placing an order, you need to know what you need, how much you're going to spend, and who you're going to order it from and how. But even when executing the purchase order , you'll need to finalize details, initiate contacts, make inquiries, and conclude negotiations. Later , you may need to perform other checks, make payments, monitor the execution of the order or compliance with the agreed conditions, and so on.
One thing is clear: each link in this chain depends on the others . For example, it is very difficult to choose the right supplier if you do not have the means to verify that they meet expectations .
And no less important is the design of the supplier experience . Investing efforts in improving it makes it easier to find stable relationships that add value to your business. To develop trust, you must have control over the data on the aspects that influence the relationship , before and after formalizing a transaction.