Managing Supplier Relationships
Methodology:
This course utilizes a variety of training exercises, case studies, questionnaires, and videos.
Course Objectives:
By the end of the course, participants will be able to:
- Evaluate supplier profiles to align with the organization’s needs and direction.
- Practice supplier integration techniques to support procurement strategy goals.
- Manage supplier performance to ensure continuous improvement of offerings.
- Apply market entry strategies to support internal capabilities.
- Utilize core skills to enhance supplier relationship outcomes.
Target Audience:
- Purchasing specialists and supply chain professionals involved in supply management.
- Individuals responsible for supplier relationships.
- Employees involved in the procurement process.
Program Content:
- Supplier effectiveness verification process.
- Wisdom in supplier relationship management.
- Information gathering sources.
- Supplier positioning.
- Qualification surveys.
- Supplier risk assessment.
- Sustainable supplier relationships.
- The triple bottom line.
- Economic success.
- Social development.
- Environmental sustainability.
Supplier Development and Integration:
- Supplier development.
- Supplier program diversity.
- Supplier certification.
- Electronic Data Interchange (EDI).
- Partnership models.
Managing Supplier Performance:
- Supplier performance objectives.
- Performance goals.
- Continuous improvement initiatives.
- Service level agreements.
Market Entry Strategies:
- Purchasing strategy matrix.
- The six sourcing strategies.
- Volume focus.
- Best price evaluation.
- Global sourcing.
- Product specification improvement.
- Partnership process improvement.
- Relationship restructuring.
- Bulk purchasing and pricing.
- Just-in-Time (JIT) purchasing.
Personal Skills and Etiquette in Supplier Relationships:
- Effective communication as a foundation for success.
- Applying leadership and management skills in supplier relationships.
- Six effective persuasion techniques by Cialdini.
- Reciprocity technique.
- Consistency technique.
- Commitment technique.
- Liking technique.
- Scarcity technique.
- Etiquette in supplier relationships.
- Communicating with external suppliers.
