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The Invisible Connection Between ESG and Supply Chain Resilience

When the COVID-19 pandemic first hit, many organizations discovered that their supply chains were far less resilient than they had...

3 Effective Ways Procurement Can Transform with CRM

Taking action is a snap with document templates and email integration that ensures critical communications to suppliers and stakeholders are

Enhancing Supplier Performance. Building the Business Case for SRM (Part 1)

Savings from strategic sourcing can be eroded by inadequate supplier performance management and collaboration (or lack of collaboration).

Improving Procurement Efficiency - Building the Business Case for SRM (Part 2)

We are at LUPR, focusing on improving procurement efficiency, which can dramatically reduce non-value add (NVA) activities performed by proc

Enabling Supplier Innovation - Building the Business Case for SRM (Part 3)

Value-added innovation is anything promoting efficiency or mitigating risk and can be as mundane as getting a supplier to license technology

Get Your Cut of the Tax Cut

We can readily see how the new tax law is benefiting investors, employees, and communities (via more investment) but I bet no one out there

LUPR: Vendor Snapshot (Part 1) — Background and Solution Overview by Spend Matters

While not all procurement groups have adopted the “supplier” flavor of customer lifecycle management — that is, supplier relationship...

Procurement is about to undergo another paradigm shift.

Supplier managers will be more productive and effective in the near future as we embrace the emerging technologies of collaboration, social

Top 3 Roadblocks to Supplier Collaboration

Collaboration is quickly changing the way we live. We collaborate to find the best route to work via Waze, to find the best place to eat vi

Help your Suppliers Shine

The Three Eras of Modern Procurement - Which are you living in?

Enabling Supplier Innovation - Building the Business Case for SRM (Part 3)

Procurement Needs Less Strategy and More Tactics: Lessons I Learned in the U.S. Navy

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December 01, 2016

Supplier Relationship Management Insights by ISM

The term "supplier relationship management (SRM)" refers to the practice and process for interacting with suppliers. Most supply professionals view SRM as an organized approach to defining what they need and want from a supplier and establishing and managing the company-to-company (or procurement-to-sales) link to obtain these needs. Even when there is no conscious procurement-to-supplier's sales link, there still are practices and processes in play — informal as they might be. Formal or not, academic and consulting company research shows that organized approaches to supply and suppliers produce positive sourcing results.

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October 04, 2016

How to Really Get a 360-Degree View of Your Suppliers By Spend Matters

Having a 360-degree view of your supplier is the notion that you are considering your supplier from every possible angle: value, quality, risk, compliance, diversity, and most importantly, their ongoing performance. Back in the day, a supplier was evaluated on price alone. Now, with all the data and systems we have, alongside the ability to integrate all of these systems together, we are able to evaluate our suppliers well beyond price and move to total value that considers all of the aforementioned criteria. By having a 360-degree view, you eliminate a lot of blind spots, and aren’t typically caught off-guard when something does go wrong.

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