Insights and strategies for effective sourcing, contract, supplier, and savings management in procurement
What are supplier SLAs? In the business world, supplier SLAs ensure that supplier relationships are mutually beneficial. This means ensuring your suppliers meet the needs of your business and vice versa. One way to do this formally is to establish a Supplier Service Level Agreement (SLA). But what exactly is an SLA? In this blog […]
What is a stakeholder? As organizations grow in complexity, understanding the role of stakeholders, who they are and how to effectively engage with them is becoming a critical part of any successful project. In this article we’ll break down what a stakeholder is, the types of stakeholders you may encounter in your procurement process, the benefits of […]
What is a Supplier Management Software? – Definition The days of manually managing multiple suppliers can be stressful, time-consuming, and error-prone. If you’re a business looking to streamline your supply chain, supplier management software could be the solution. Supplier management software is an integrated system designed to automate and streamline all aspects of the supplier […]
How a Supplier Taxonomy Can Drive Procurement Success and Savings With the increasing complexity of global supply chains, creating a supplier taxonomy is more important than ever for procurement departments. This article looks at why having an organized supplier taxonomy can help ensure the success and savings of procurement operations. Find out how a supplier taxonomy can help drive execution […]
How Supplier Compliance Can Positively Impact Risk & Performance in Procurement Keeping your suppliers compliant with regulations and policies can be a major challenge for any company. But did you know that there is an even greater benefit beyond simply meeting regulatory requirements? In this article, we’ll explain how supplier compliance can actually have a positive impact […]
How to Improve your Contract Management Process Contracts are the lifeblood of any business. They help ensure that agreements between parties are clear and enforceable, and they set expectations for both parties in a concise way. But managing contracts is often a tedious, manual process – one that can be easily improved with the right […]