SUPPLY CHAIN
systems that don ' t talk to one another . Step one on data is getting visibility on supplier relationships across all data silos and making this visible to all stakeholders .
The next step is to make it easy for suppliers to collaborate with you . In Vendorful , suppliers can manage multiple customer relationships in one place and reduce time spent filling out forms . This improves both compliance with data requests and also the quality of responses , providing meaningful insight into performance and trends .
How do you see SRM evolving ? SM : SRM saw big changes throughout the pandemic and it will continue to grow in prominence , as measuring relationships through hard-coded values becomes even more mission-critical . isn ’ t effective in an increasingly dynamic global ecosystem . Businesses need to implement repeatable processes that are live , dynamic , structured , measurable , scalable , and deliverable via digital platforms .
PB : You can ' t overstate the value of supply chain data . Supplier relationships are complex , and , typically , data about those relationships is spread across multiple
PB : The biggest change will be the redefinition of what the term ‘ strategic supplier ’ means . For years , ‘ spend ’ has been the measure of how important a supplier is . But a better metric of importance is the business impact of a problem with any given supplier .
What if a low-cost item you ' ve been happily buying on a no-bid contract for 15 years suddenly doesn ' t show up , or you ’ re faced with having to shut down an entire factory because it is critical to a vital process ?
By the way , that is an actual story from a CPO . You can be sure that his company now has a different view of what makes a supplier ‘ strategic ’.
Over coming years , I expect more organisations to reach a similar conclusion . They will begin prioritising – and strengthening – relationships that might not look important on the basis of spend , but that pose the greatest risk to their operations .
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