Supplier Relationship (Micro) Management

Across the world, sourcing, supply chain, and global trade executives are under intense pressure to streamline their processes in order to stay ahead of the competition and keep their companies in the black.

But let’s face it — it’s not easy in this environment: light-speed business, stringent compliance regulations, and consumer demand for more agility than a squirrel on a bird feeder.

Today, companies are working in a supply-side pressure cooker with 46% of supply chain professionals across all industries under the strain of rising supply chain management costs. The growing complexity of global operations also has 40% of these leaders deeply concerned. Escalating speed requirements and ever-changing regulations are stretching their capabilities to the limit. For all of these reasons, and more, improving the supplier relationship is more critical than ever.

Success for retail and consumer goods manufacturing in today’s new world order boils down to six guiding principles, or the “Rs” of supply chain execution, which include:

To hit all of the Rs on target, a Chief Supply Chain Officer (CSCO) has to address each functional area of the supply chain to ensure optimal performance. Any organization is only as good as the people that work for it, and this standard extends to the supplier base and business partners as well.

To hit all of the Rs on target, a Chief Supply Chain Officer (CSCO) has to address each functional area of the supply chain to ensure optimal performance. Any organization is only as good as the people that work for it, and this standard extends to the supplier base and business partners as well.