Stakeholder Engagement & Support
STATE OF FLUX
2014 GLOBAL SRM RESEARCH REPORT
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Another approach to improving supplier engagement is to hold a supplier-centric event. This differs from supplier communication events that tend to have the customer on ‘transmit’ and the supplier on ‘receive’. A supplier-centric event puts the supplier at the heart of the event. It is designed for them to learn more about your business (including your targets and expectations of them), meet key personnel, share information and showcase their capability. The best of these tend to morph into breakout working sessions to begin working at the next level of detail. These events need to be designed and managed carefully so they don’t become a one-way presentation of demands by the customer, or a series of sales pitches by the suppliers. However, when executed with skill and imagination, these events are very well received by suppliers and start to differentiate you as a customer.
without being prepared to listen and act on what you hear represents more of a risk than not asking in the first place. We mentioned that some methods of gathering feedback will be more effective than others. It is of course important to keep all channels of communication open and always welcome feedback. However, when it comes to being proactive, it is far better to gather information in a more structured and methodical way. The questionnaire or survey approach is tried and tested, although possibly a little overused. However, if positioned and communicated properly, it is still the most effective way to gather supplier feedback. This approach is more commonly referred to as ‘voice of the supplier’, and is often facilitated by a third party to create some distance between the customer and supplier, and allow for confidentiality and objective data analysis. Other characteristics of voice of the supplier include a structured questionnaire with questions that compare you to the supplier's other customers, face-to-face or telephone interviews and action planning.
SRM essentials
ö ö Identify and map stakeholders carefully. ö ö Create an engagement plan with the SRM value proposition at its heart. ö ö Maintain stakeholder management over the long term. ö ö Appoint senior stakeholders into accountable executive roles, and keep them informed and engaged. ö ö Understand the current state of your supplier relationships – a voice of supplier study can provide visibility of strengths and weaknesses. ö ö Re-think your approach to supplier events.
Contact us on +44 (0)2078 420 600 or email us at enquiries@ stateofflux.co.uk to discuss SRM stakeholder engagement and support; or voice of the supplier
and supplier engagement excellence in more detail.
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