In traditional Supplier Management, the focus was only on cost reduction. The buyer-supplier relationship did not extend beyond that. Today, it is recognised that Suppliers play an important role in the long-term success of an organization. With this recognition, they have come to be seen as partners in business no less important than the end ...

It’s Friday evening before Christmas and you find that the parts arriving from the supplier can’t make it inside the gate because of some discrepancies in the purchase order. Let’s say you are getting the new equipment ready for a customer demo and the part doesn’t fit… the engineers discover just then that the part ...

Almost all established companies have a well-functioning ERP system. ERPs were designed to help accounting teams monitor transactions across the enterprises and to help in financial reporting. Transactions include sales invoicing, payment receipts & Accounts Receivables, Purchase Orders, Material Receipts, Purchase invoices & Accounts Payable.  Since there was significant working capital involved in maintaining inventory ...

A Successful Product Manufacturing Company requires a strong supply base, given about 70% of the value of the product is derived from the Direct Materials sourced from their suppliers. The relationship that a buyer has with the supplier has a direct impact on their success.  At the heart of a good relationship with the suppliers ...

The indispensability of procurement  Ask any leading business to name a recurring challenge they face and the reply will be cost-efficiency. Procurement as a mere associate function has long changed (Refer our earlier blog item here). Somewhere between directing their entire focus on the selling side of the business, organizations have come to realize one ...