In an uncertain world you can rely on us to look out for your interests and pro-actively manage your overhead spending and supplier relationships.
Supplier Relationship Management
Business-to-business vendor and buyer relationships tend to be complex because they typically involve a number of stakeholders in the buying organisation who will make collective decisions.vendors and buyers have competing goals, differing needs, risks and opinions
These differences can, if the relationship is not properly managed, cause conflict, low productivity through protracted dispute resolution, unprofitable vendor margins necessary to sustain the relationship and in the worst case scenario, a complete breakdown in the relationship and even litigation.
Our diverse and comprehensive supply chain means we can source suppliers with the right capabilities and innovation, capacity and experience for each client. And proactively manage the relationship with them, on your behalf, going forward.
SRM - Supplier Relationship Management Benefits
Supplier Relationship Management (SRM) should be focused on joint value creation based on trust, open communication and collaboration with a limited number of key suppliers. Count on Procuright to manage supplier relationships between you and the supplier, which will result in a variety of benefits, including;
Better Access to Supplier Innovation
Unique knowledge, resources, capabilities, talent, ideas and technology.
Focus on Core Business Functions
Adjust and redistribute budgets and personnel to core business functions.
Leveraging on Supplier Capabilities
You specialise in whatever products or services you sell; so does the supplier.
Better Access to New Products & Services
Suppliers keep us updated of product and service enhancements; clients reap the benefits.
Alignment between the rest of business, procurement and suppliers to achieve client goals.
Risk Management & Reduction
Identifying and mitigating risk as well as improving CSR as a result.
More Efficient Processes
Across procurement, finance and the business as a whole on categories of indirect spend.
Supplier Performance Enhancements
Increased supplier service percentages, improved on-time deliveries and SLAs.
Joint Value Creation
Achieving the different desired outcomes and goals required by both vendor and buyer.
Keeping the relationship healthy with quick resolutions and a strengthened relationship.
Higher contract compliance rates and regulatory compliance across the business.
This may appear to conflict with the focus on value creation, but cost-saving is still a KPI.
Outsourced Supplier Relationship Management
By outsourcing non-core competencies, UK businesses are achieving security of supply, corporate social responsibility improvements, and on-going cost savings. Strategic partnerships are at the top of the corporate agenda of many organisations and Supplier Relationship Management (SRM) is seen as one of the few remaining procurement topics that can still make a significant difference.
However, many organisations encounter difficulties in initiating, developing and managing these relationships/ partnerships.
Many UK businesses cite the most important SRM objectives as leveraging supplier capabilities, realising supplier innovation, delivering cost savings and reducing supply risk exposure. Rely on Procuright to accomplish your goals with proactive outsourced supplier relationship management.