2023 GLOBAL SRM RESEARCH REPORT
ENGAGEMENT
54
55
Supplier management remains high on the executive agenda. It is time to take the initiative and increase efforts to engage with stakeholders to harness support for developing a leading supplier management programme. The need to engage across the business emphasises the need to draw on the Six Pillars of SRM, particularly the ‘Value’ pillar, where the key to engagement lies. The value proposition and business case is the number one tool to support engagement and support from senior stakeholders, operational stakeholders, and suppliers. It cannot be accepted that stakeholders remain unaware of the benefits and as a consequence prioritise other aspects of the business and fail to support supplier management. Engagement is really about communication, and this is something that suppliers are always crying out for. This attribute of relationships remains a challenge. Too many companies rely on ad hoc and informal conversations and, therefore, never have the data to identify common themes and issues and develop appropriate action plans. While a number of organisations are employing 360-degree feedback, it can be problematic when facilitated in-house and can become adversarial. In addition, any commitment to gather supplier feedback must be accompanied by a commitment to act on the outcome, as ignoring the feedback invites trouble. The key engagement opportunities are: • Use the higher profile that supplier management has achieved to increase stakeholder engagement and awareness of the value proposition and how it aligns with business needs. • Employ technology more effectively to support engagement and communication. • Ensure that all suppliers, particularly critical and strategic, are engaged in a structured process to gather feedback on how you are perceived as a customer. • Ensure that supplier feedback is properly analysed and acted on.
“Engagement is really about communication, and this is something that suppliers are always crying out for.”
Powered by FlippingBook