Suppliers no doubt play a critical role in delivering goods and services that meet quality standards, timelines and cost objectives. However, managing supplier relationships can be complex, requiring proactive strategies and meticulous execution. In this blog post, we'll explore practical strategies to master supplier management for mutually beneficial outcomes. Discover more here>>>https://lnkd.in/dscdwAgb #efeminiacademy  #newblogalert #srm #scm #procurement  #procurementmadeeasy

Contract governance encompasses the processes, policies, and controls implemented to oversee and manage contracts effectively within a supply chain context. Effective contract governance enables organizations to optimize their supplier relationships, minimize costs, and drive operational excellence across the supply chain. https://cutt.ly/reenYHxb #SupplyChainManagement #contractgovernance #legittai #contractmanagement 

Do you agree: The urgent need to address the inefficiencies in procurement operations calls for a radical change.  An improved contract lifecycle management process can:  💸 Reduce spend leakage  ⚠ Eliminate compliance risks  🤝 Accelerate supplier onboarding  🔍 Extract key data from contracts Learn how procurement teams can improve vendor contract management. Download the CPO report now! Link in comments 👇 #procurement #cpo #clm #contractlifecyclemanagement

Elevating procurement in 2024! Witness a dynamic shift as procurement teams seamlessly integrate within an organization and adopt new skills that redefine collaboration and efficiency.  #procurementexcellence #ccm #indirectprocurement #vendormanagement

💡 Discover key performance indicators to transform your procurement process, featuring insights on managing supplier relationships and process efficiencies. Explore metrics like supplier performance management, purchase order cycle time, and procurement ROI for comprehensive operational assessment. 🔗https://bit.ly/4a5FlTk #SupplierManagement #ProcessEfficiency #ProcurementKPIs

Reflecting on my first day at SIPC, I realize the invaluable impact of the Procurement Maturity Assessment. It offered critical insights into our procurement practices, enabling me to identify areas for enhancement and set strategic goals. Leveraging this assessment, we have successfully launched a Procurement campaign called Procurement New Era, aimed at revolutionizing our processes and driving excellence. The plan was meticulously designed across four main domains: Strategy and Governance, People and Structure, Systems and Contract and Supplier Management. These domains cover key areas for improvement over the next four years, transitioning from Ad hoc stage to Structured, to Advanced, until we attain Best in Class status. Excited to share that I have already started implementing this transformative plan. #ProcurementExcellence #SIPC #StrategyAlignment #PSS #Procurement_and_Contracts

💡 Discover key performance indicators to transform your procurement process, featuring insights on managing supplier relationships and process efficiencies. Explore metrics like supplier performance management, purchase order cycle time, and procurement ROI for comprehensive operational assessment. 🔗https://bit.ly/3RsQQwR #SupplierManagement #ProcessEfficiency #ProcurementKPIs

💡 Discover key performance indicators to transform your procurement process, featuring insights on managing supplier relationships and process efficiencies. Explore metrics like supplier performance management, purchase order cycle time, and procurement ROI for comprehensive operational assessment. 🔗https://bit.ly/47IP1BA #SupplierManagement #ProcessEfficiency #ProcurementKPIs

🌐 Insights from a global study of 850 procurement leaders: 52% of businesses delay supplier payments by 22 days on average, jeopardizing smaller suppliers and risking closures. Addressing technological challenges and fostering collaboration between procurement and finance teams is vital. Timely payments are key for trust, strategic partnerships, and business continuity. Link in the comments to the full article. #Procurement #SupplierPayments #BusinessStrategy