Sourcing and procurement are of strategic significance in most modern businesses with an increase of purchased or outsourced, revenue share. The fact that we purchase or outsource more value naturally leads to increased interaction with suppliers or partners. In the global market these interactions are becoming more critical, more international, faster and thus more complex. Today it is quite obvious for most managers that we can create competitive advantage for our own business with the help of our suppliers, rather than “in spite of” (which has been the traditional view).
The relationship with suppliers covers preparation, implementation and tracking, as well as the occasional termination or phasing out of supplier relationships. A model is needed to handle these relations; we call this SRM – Supplier Relationship Management.
Purpose and learning objectives
To provide knowledge on the areas of importance when it comes to the assessment and selection of suppliers, as well as information on work methods to use during the process. To understand how to manage supplier relationships and monitor supplier performance. How can we establish and maintain/ develop a good working relationship with our suppliers? What are the considerations when a relationship with a supplier is coming to an end?
Participants from organisations that are involved in supplier relations, working within areas such as purchasing, quality assurance, product development or production.
Examples of content:
• What is Supplier Relationship Management, SRM?
• Trends in SRM
• The demands for the future
• Supplier Assessment and supplier evaluation
• Sustainability as a tool
• Financial ratios and risk management
• International business
• Risk Management
• Supplier score card
• Start up, development and phase out suppliers
• Contract and Legal Aspects
• To go from frustration to value creation
• Examples from Eastern Europe, India and China