Two seemingly opposite trends in supplier management are gaining traction in the marketplace.
According to an Institute of Supply Management survey of leading national purchasing and supply professionals, “partnering” and “e-commerce” are currently viewed as the two most important tools or solutions for supply chain management and purchasing.
E-procurement and supply chain management systems primarily offer companies reduced costs, and can also result in streamlined processes, increased visibility, and better forecasting. “Partnering” – the type of relationship that develops between companies and their suppliers – can offer companies a multitude of benefits beyond incremental cost reduction, such as increased innovation in product and processes, collaboration on more value-adding projects, and improved supplier performance.