All posts in Suppliers

10 Strategies for Improving Supplier Relationship Management SRM

Supplier Relationship Management is the hallmark of the Modern Procurement Function.  The following are strategies for effective Supplier Relationship Management: Understand and Accommodate Supplier Interest: Understanding what makes a supplier tick, why they do what they what they do, builds trust and synergy, the two critical ingredients for success in business. The interest of your suppliers should match your supplier selection…

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Are You Making This Expensive Procurement Mistake?

Several years ago, I actually looked at one of our homeowner’s insurance bills and found our provider increased our rates significantly beyond our initial rate.  So, I went out and found better coverage and a much better rate with an alternate provider. Don’t miss updates on Procurement & Supply Chain, Subscribe here! Then, the other day, my new homeowner’s insurance…

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Surprise Supplier Audits: Good or Bad?

One of the students of a Next Level Purchasing online course asked me, as the instructor, whether I thought that “surprise” supplier audits were a good idea.  The goal of such surprise audits would be to confirm that the supplier is truly meeting its obligations, whether those obligations are things like maintaining the agreed-upon stock levels, keeping up with production…

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Supplier Error Reduces CEO’s Net Worth By Over $5 Million in 16 Minutes

Wow.  I have to say that this headline refers to one of the most dramatic procurement-related screwups ever. Don’t miss updates on Procurement & Supply Chain, Subscribe here! Yesterday, Google’s stock plummeted from $754.64 per share at 12:34PM to $687.30 per share at 12:50PM (source:  Yahoo! Finance) before trading of the stock was halted. What was the reason for such…

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Could Apple’s Supplier & Competitive Strategies Be Spooking The Stock Market?

With so much press speculation about a double-dip recession being imminent, I cannot help getting sucked in by headlines that may offer a clue on what’s to come economically. Such was the case today when I saw the headline “Is Apple Fearful of a Consumer Slowdown?” Don’t miss updates on Procurement & Supply Chain, Subscribe here! That headline actually scared…

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Who Owns The Customer-Supplier Relationship?

A few weeks back, the Strategic Sourcing & Procurement Group on LinkedIn held a knowledge-sharing conference call based around the question “Do penalties improve supplier performance?” Shortly after the call, Michael Koploy posted a nice summary on That summary covered these five top takeaways from the call: Don’t miss updates on Procurement & Supply Chain, Subscribe here! Incentives Needed…

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