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One of the most important aspects of running a business has to do with how you manage your suppliers. Remember that a supplier isn’t just “a company that you hired to boss around.” A supplier is an entity that you need to establish a successful and beneficial relationship with in order for both organizations to achieve all of their goals.
This course explains some key methods and strategies to more effectively manage your suppliers in the future. There are three sections in this course.
First section is about creating a supplier profile. Maintaining and updating supplier's profile can help you understand how useful the supplier is, or not for the particular service. This lecture explains all the important components that should be included in the supplier profile while looking at the supplier's performance.
Second section is about organizing supplier’s day and supplier’s road show. These are two supplier events that are organized to foster effective relationship with suppliers via face to face collaboration.
Third section is supplier evaluation and management. You will learn about various supply chain responsibilities, the concept of sub-supplier management and some of the golden rules in supplier management.Upon completion of the course, you would be able to develop a comprehensive program to manage all your suppliers, a program that would ensure high performance and low risk for your function.
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|Section 1: Section 1: Introduction|
Lecture 1: Course introductionPreview
|Section 2: Section 2: Creating Supplier profile|
|Supplier management is one of the top priorities for the purchasing department in any organization. This is because managing the supplier relationships strategically can yield long-term benefits. However, to get the most out of your suppliers, it’s important to optimize or reduce the number of suppliers first in order to channel your energy to maintain the right kind of relationships. After that it’s also important that you track and measure their performance. A Supplier Profile is a document that can help you track all the details you need to know in this process. Maintaining and updating supplier's profile can help youunderstand how useful the supplier is, or not for the particular service. This lecture explains all the important components that should be included in the supplier profile while looking at the supplier's performance. With the help of templates shown in the course, you can choose wisely all of the important metrics to be included in your supplier’s profile.Upon completion of the lecture, you would be able to create all kinds of supplier profiles, be it simple ones or the most complex ones!|
|Section 3: Section 3: Engaging Suppliers - Supplier day & supplier road show|
Developing and maintaining effective communication with suppliers is quite a challenging task. The organizations usually have a diverse supplier network which has a great influence on organization's purchase and supply chain management. The supplier input helps in reducing risks, improving manufacturing processes and servicing the customers with contentment. Also, the supplier events help organizations to stay ahead of their competitors as their integrated relationships can help organizations to increase quality and reliability of their products.
Supplier day and supplier road show are two such supplier events that are organized to foster effective relationship with suppliers via face to face collaboration. This course shall teach you all the elements involved with these events and the detailed process to carry them.
This lecture covers supplier road show.
|Section 4: Section 4: Supplier evaluation and management|
Maintaining a good supplier base is critical to the effective operation of any organization. This involves evaluating and managing suppliers in order to get long term benefits from them. It not only entails measuring performance of suppliers and managing compliance to the contract signed, but also involves managing pre- commercial interactions such as supplier identification, segmentation, registration, on-boarding, etc.It is very important for procurement professional to know all the elements that go into building an effective supplier evaluation and management process, this course can help you learn all of that! You will learn about various supply chain responsibilities, the concept of sub-supplier management and some of the golden rules in supplier management. You will also go through various templates and examples which will help you learn the evaluation strategies. Upon completion of the course, you would be able to develop a comprehensive program to manage all your suppliers, a program that would ensure high performance and low risk for your function.
This lecture covers supplier management.
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