STATE OF FLUX
If any supplier management programme is to be sustainable, technology support will be required. This is even more of an imperative when we need to address supply chain risk and actively embed a safe operating standard with our suppliers as a matter of urgency. Our experience and research shows that supplier management leaders are three times more likely to use technology than their peers, with a clear gap between passive vs. active management of supplier relationships, as seen below: Technology and supplier management at speed TECHNOLOGY AND SUPPLIER MANAGEMENT AT SPEED If any supplier management program e is to be sustainable, technology support will be required. This is even more of an imperative when we need to address supply chain risk and activ embed a safe perability s andard with our suppliers as a matter of urgency. Our experience and research shows that supplier management leaders are three times more likely to use technology than their peers, with a clear gap between passive vs. active management of supplier relationships, as seen below:
Supplier management technology adoption Source: State of Flux research
SUPPLIER MANAGEMENT TECHNOLOGY ADOPTION SOURCE: STATE OF FLUX RESEARCH
The findings of our research show a huge opportunity to shift expectations away from technology as an information repository and, with the right platform, becoming a key enabler of achieving supplier management at speed. Implemented correctly, technology will ensure the “building for longevity” work stream is sustainable whilst “delivering rapid results”. The table below summarises some of the activities that can be streamlined using appropriate technology to implement supplier management at speed. The findings of our research show a huge opportunity to shift expectations away from technology as an information repo it ry and, with the right platform, b omi g ke enabler of achieving supplier management at speed. Implemented correctly, technology will ensure the “building for longevity” work stream is sustainable whilst “delivering rapid results”. The table below summarises some of the activities that can be streamlined using appropriate technology to impl ment supplier management at speed. Accelerate the process of getting suppliers introduced to supplier management which includes capturing key information, undertaking (or re-validating) due diligence activities, and establishing governance. Supp ier onboarding Accelerate the process of getting suppliers introduced to supplier management which includes capturing key information, undertaking (or re-validating) due diligence activities, and establishing governance. Streamline risk management workflows to identify, manage, and mitigate supplier risks with an auditable action plan. Manage compliance documentation and continuity plans. Risk management Automate scoring and reporting of KPIs to transform performance management into a diagnostic activity that is closely coupled with risk management. SUPPLIER ONBOARDING
Performa ce management Relationship facilitation
RISK MANAGEMENT
Streamline risk management workflows to identify, manage, and mitigate supplier risks with an auditable action plan. Manage compliance documentation and continuity plans. Provide a collaboration portal for stakeholder engagement such as: > Relationship assessments and Voice of the Supplier research - developing and progressing joint account plans. > Value release initiatives and continuous i prove ent actions. > Capture supplier innovation and manage a supplier innovation pipeline. Automate scoring and reporting of KPIs to transform performance management into a diagnostic activity that is closely coupled with risk management. Provide a collaboration portal for stakeholder engagement in activities like: • Relationship assessments and Voice of the Supplier research - developing and progressing joint account plans • Value release initiatives and continuous improvement actions.
PERFORMANCE MANAGEMENT
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COVID-19 SAFE SUPPLIER OPERATING STANDARD PART ONE
RELATIONSHIP FACILITATION
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