This week’s featured webinar was a Procurement Leaders Thought Leaders event on the topic of supplier relationship management. Innovation with suppliers is a critical component of competitive advantage, but in order to turn potential into performance procurement needs a plan. In this webinar, we heard from Hubwoo, BMO Harris Bankcorp, and P&G about supplier segmentation, key success factors, and achieving innovation.
Buyers Meeting Point attends many sales AND procurement webinars/webcasts. One of the interesting things about consistently reading content from quality sources is that you start to notice trends. It is amazing how often the same topics arise at the same time in different places. We use this blog as a way to help you stay on top of the major themes in procurement and supply chain management.
The Seven Habits of Highly Effective People, first published in 1989, is a self-help book written by Stephen R. Covey. It has sold more than 25 million copies in 38 languages worldwide, and the audio version has sold 1.5 million copies, and remains one of the best selling nonfiction business books.
The approach continues to be pertinent in every day life at work and at home. Buyers Meeting Point will be reviewing each of the Seven Habits over the next few months.
We have two ears and one mouth but we rarely use them in that proportion. We are so anxious to tell our story or give our perspective, we don't stop to LISTEN to our suppliers, customers or partners.
I read this article from Smartblog on Leadership titled: Explore the benefits of customer and supplier partnerships.
It gives a few examples of suppliers and customers worked together to benefit both organizations. They started by listening to each other's perspective and asking each other the following questions:
- What do you really need from me?
- What do you do with what I provide you?
- Are there gaps between what I give you and what you need?
- What problems might I help you with?
- Am I providing things you don’t need?
So who has time for all this? We have to take care of all the email, phone calls and meetings on the calendar? How do we carve out the time and focus to do something like this? Will it be effective if we take small steps and at least begin the process?
The authors of this article, George H. Labovitz and Victor Rosansky, have a business process to support this and have written a book, Rapid Realignment. Based on some of the highlighted case studies, it certainly seems like a resource to explore.
Has anyone utilized this approach? What type of results did you see and what would you suggest?
This week’s trip to The Flip Side is based on a post written by Reed Holden on his blog Pricing With Confidence: ‘Procurement: Kings or Jokers’. Holden has written a number of books on pricing and negotiation. His primary focus is helping Fortune 1000 B2B companies in a number of industries maximize their growth through setting optimal go-to-market strategies.
As the economy starts to rebound and leverage positions change, becoming a ‘customer of choice’ is being discussed in many procurement conference rooms. You would think that us sitting around discussing how to be the most fabulous customers possible would be music to a sales person’s ears!
This week’s featured event was presented by Sourcing Interests Group and Emptoris (an IBM Company). The main speaker, Mitch Plaat, is Con-way’s VP of Procurement and CPO and has been with the company for 22 years. He has overseen quite a transformation, starting six years ago with the decision to engage Emptoris for help in the form of solutions and services.
At Buyers Meeting Point, we often have opportunities to recommend the publications we have read, reviewed and endorsed to our supply management colleagues. Vested Outsourcing by Kate Vitasek is one of the easiest books to recommend, not because it is excellently written – although it is, but because questions constantly arise in discussion groups and forums around strategic outsourcing relationships with suppliers and how to make them work.
People do business with people they like. We have all heard that phrase before and know it holds a great deal of weight. In this economic climate, the financials have to be the key driver in decision making. However, with that being comparable, the strength of the relationship will seal the deal.
The process is basic and simple but since not everyone does this, it can be quite a differentiator. This has a lot to do with procurement since you have internal customers and also constantly working with suppliers and salesmen.