Gain a clear picture of what you’re buying, and from whom. Undertake a rapid and high level procurement review to identify areas that can deliver immediate cost savings and efficiencies.
Once the base information is gathered, you can categorize suppliers, outline the various communication and eCommerce methods you will need for different types of suppliers, and highlight candidates and methods for invoice volume reduction. Ultimately, you will be able to identify the opportunities that will make the greatest impact, fastest.
Once you understand your environment, develop your strategy and collect essential information. Adopt eProcurement technology and implement a framework to streamline and automate key aspects of Supplier Engagement in the sequence that provides the most value to you. This framework should include the tools you need to:
- Maintain accurate, up-to-date supplier information (supplier directory, recruitment, qualification and adoption, eCatalog management).
- Effectively communicate and collaborate with different types of suppliers (self-service profile and catalog management, RFx and quotation posting and response and account enquiry).
- Streamline commerce transactions (orders and invoices).
Once you have the supplier management framework in place and address initial “quick win” opportunities, you will be ready to work your larger strategy with incremental expansion and refinement.