3 Pillars of Effective Supplier Management

In every industry, purchasing and supply chain executives say they wish their suppliers would be more reliable and consistent in providing material, parts and services that are on-time and in meeting specifications at the right price.

When a manufacturer relies on external providers of goods and services, there is a sense of risk and vulnerability. Yet, in many organizations tracking supplier performance is relegated to the realm of spreadsheets, where the business process flow can be varied and inconsistent.

In this article, Ed Potoczak discusses the 3 pillars of effective supplier management and how an organization can build a highly integrated and responsive system for all stakeholders.