Supplier Management

As a key component of Supply Chain Management, Supplier Management refers to the strategic management and control of a company’s relationships with its suppliers. Punctuality, quality and sustainability in particular play a decisive role in the selection and evaluation of the right suppliers, as these aspects automatically impact procurement. In this article, we explain how you can utilize smart supplier management and thus optimize purchasing processes. Further, we discuss the role that data exchange and transparency play in this context.

Especially in times when markets are changing rapidly, reliable suppliers are of crucial importance: The productivity and efficiency of many companies depends on whether agreed delivery commitments and quality are met – or not. However, strategically optimizing supplier development requires time, knowledge and resources. In our latest article on the blog, we explain the advantages that working with suppliers in a spirit of trust provides. Further, we discuss the challenges that companies face is this context and the strategies that they can apply in order to increase their competitiveness through viable relationships with their suppliers in the long term.

The global value chain continues to be affected by severe disruptions. Against this background, efficient supplier management is critical to success. We outline the challenges and provide tips for sustainable action.