SRM

Why Savings Tracking in SRM Solutions is Critical for Procurement’s Bottom Line

Why Savings Tracking in SRM Solutions is Critical for Procurement’s Bottom Line Procurement has never been more strategic. With organizations under pressure to deliver cost savings, manage risks, and build resilient supply chains, the ability to track, measure, and leverage savings through Supplier Relationship Management (SRM) solutions has become a game-changer. Yet, many companies still [...]

Mid-Year Resolution: From Data to Action — Evaluating Supplier Performance the Smart Way

Mid-Year Resolution: From Data to Action — Evaluating Supplier Performance the Smart Way Mid year is a great time to evaluate suppliers (KPIs). With one cycle of feedback already completed, it’s important for your team to step back and see what is working and what needs more attention, which suppliers are performing well, and who...

Navigating Tariffs: The Power of a Dynamic Approved Supplier List

Navigating Tariffs: The Power of a Dynamic Approved Supplier List Let’s be honest — your traditional Approved Supplier List (ASL or AVL) isn’t cutting it anymore. It’s static, outdated, and far too slow to keep up with today’s supply chain demands. When tariffs suddenly shift or global disruptions hit, procurement teams are left scrambling —

3 Ways to Boost Procurement’s Strategic Impact

Collaboration is quickly changing the way we live. We use Waze to find the fastest route to work, we sort through reviews on Yelp to find the best place to eat, and we visit Airbnb to find a more interesting place to vacation. Supplier managers I speak with are eager to reap the benefits of...

Using SRM to Automate Category Management

Implementing category or commodity strategies enhances business efficiencies by optimizing processes. Organizations should maintain contractual relationships with suppliers and facilitate procurement change initiatives within categories to improve overall business performance. Does the following all-too-common scenario sound familiar to you? For example, the manufacturing team has a category manager who is doing a terrific job. She...

Going Beyond Traditional Spend Analytics to Identify Risks and Drive Change

PayPal co-founder Max Levchin once said, “The world is now awash in data and we can see consumers in dramatically clearer ways.” What Max did not mention is that thanks to all this data, companies can now see their suppliers in much clearer ways, too. This begs the question, is your procurement department making the...