Has the time come for procurement executives and organisations to put Supplier Management it at the heart of their strategy? Might it even take over from Category Management as the fundamental basis and guiding principle for procurement activities? Not completely, but there is no doubt it is gaining more focus amongst procurement leaders and thinkers.
This briefing will look at why this is the case, and considers how the historical focus of procurement has changed over the years. We then look at the external factors that are driving an increased (and appropriate) interest in supplier management. The paper also discusses the key elements of supplier management, and considers the benefits that are potentially achievable from improved supplier management, including how different areas and stakeholder groups within the buying organisation tend to look at their own priorities arising from suppler interaction. Finally, some actions are suggested that can help organisations improve their practice in this area.