Supplier Selection

Best practice for supplier selection

RudiKruger.jpgWhile there is usually a diverse pool of suppliers available in most industries, not all of them would serve in the best interest of your organisation.

"Selecting suppliers commonly takes into consideration cost, quality, safety, reliability, service level, deliverability and convenience. However, there are some best-practice steps to take when selecting suppliers of the essentials that help a business to function and reach its operational objectives", says Rudi Kruger, General Manager, LexisNexis Data Services.

10 Cs of supplier appraisal

MosesManuel_100.jpgSupplier appraisal is a significant matter in procurement procedures. Properly done, you will avoid wasting time, money and effort, not to mention embarrassment that stems from awarding a contract/tender to a supplier who, in reality, lacks the technical and financial capacity to handle the work, or who operates under a system of values inconsistent with your own.

"It is, therefore, crucial that you pay attention to your supplier appraisal procedures", says Moses Manuel, a lecturer in business, legal and development-related studies and Founder of the Zerite Network.

Vendor database optimisation: Are you doing it right?

Schalk_vdMerwe_100.jpgOne of the primary components of any procurement function's strategy is, or should be, to ensure that the company has an optimised vendor base. This is aimed at achieving a more cost effective and high-quality supply chain.

Most companies therefore go through a vendor rationalisation process at some stage and continually review vendor categories to ensure that the selected set of vendors remains the best fit for the respective services or products they deliver to the business.

Optimising the vendor base is normally done by assessing various elements such as pricing, service delivery, contractual terms, internal stakeholder sentiment etc., which are, of course, all very important elements to consider. However, the important elements most often overlooked are the non-contextual ones, says Schalk van der Merwe, Executive Head: Supply Chain Governance at data powered risk solutions provider Inoxico.

6 steps to maintain a successful vendor selection process

RudiKruger.jpgIt is important to do business with the right vendors if you want you want to stay on the right side of the law while ensuring that the business' needs are met. With hundreds of suppliers offering relevant products and services, the vendor selection process can appear strenuous and time consuming. However, if done the correct way and in line with the business' best interests, the supplier selection process can be achieved with ease and peace of mind.

Rudi Kruger, General Manager at screening solutions provider LexisNexis Data Services, says that vendor selection can be successful if you have a handle on important aspects of the process.

Love procurement - because it can impact society and the environment

Join us at Smart Procurement World 2019, where one of our conference themes will be "Walk the talk: High-impact procurement"

RobertFreeman_100.jpgProcurement work is much more than just securing the right products, in the right quantity and quality at the right place... Let's think wider, more holistically, writes Robert Freeman, a procurement and supply chain expert at Future Procurement, a procurement coaching and consultancy organisation.

How to efficiently plan and execute supplier negotiations

KatherineBarrios_small.jpgSupplier negotiation has become an intrinsic part of the supply chain process and, for many companies, this could be the most critical process in the whole chain. Katherine Barrios, Chief Marketing Officer, Xeneta (a benchmarking and intelligence platform for ocean freight pricing), looks at some of the crucial aspects in supplier negotiation.

4 tips to manage supplier risk

RudiKruger_2017.jpgSuppliers can fail you in many ways. Supplying inferior quality goods and services, missing deadlines or data breaches can affect the bottom line and reputation of a business.

However, while risks are ever-present, some are more avoidable than others - including the effects of mistakes and failures by suppliers" says Rudi Kruger, General Manager of LexisNexis Data Services.

Can Enterprise and Supplier Development equal cash efficiency?

StuartTownshend.jpgIn this month's SmartProcurement, Stuart Townshend, Edge Growth Director, explores how you can use your Enterprise and Supplier Development (ESD) initiative to be cash efficient, and become self-sustainable - yet making a positive impact where it is needed most.

Procurement: Are you getting the most out of your supply base?

KristianOMeara.jpgWhen it comes to choosing suppliers, some procurement teams are losing sight of what matters most. Instead of focussing on the long-term, strategic value of a relationship, many often get caught up in the transactional aspects of signing a supplier, such as pricing, contracts and negotiations. They get so wrapped up in the details around how much the supply costs, the terms of agreement and product specifications, that they neglect to think about the overall value the supplier can bring to the organization, by helping them achieve their unique business goals, says Kristian O'Meara, senior vice president of value engineering at BravoSolution.

Turning supplier information into procurement insight

 

RudiKruger_2017.jpgDecisions and consequences go hand-in-hand. This is why having adequate, relevant information at your fingertips is a critical aspect of any decision-making process - more so when these decisions affect the operation of business and company reputation.

In procurement, the optimal goal is to manage risks and costs within a company, making it an imperative department of business. Businesses spend a significant amount of time vetting potential suppliers before embarking on a partnership, and pertinent data provides them with the right tools to make informed decisions with information that is easily interpreted by management.

However, the vetting system should not end when an agreement is reached between a business and its supplier. Intensive research and vetting on future and current suppliers should be a continual safety requirement to ensure all procurement legislation is adhered to, says Rudi Kruger, General Manager of Risk Solutions at LexisNexis Data Services, in this month’s SmartProcurement.

How can procurement prepare SMEs to engage with corporates?

 

ElmarieGoosen-HS.jpg“They won’t even talk to me, now” David said with a sigh, and to punctuate his mood, spread his hands on the desk in front of him in resignation.

David is a small supplier that was selected to participate in a corporate enterprise supplier development (ESD) programme. Following the completion of the 12-month contract, he was replaced by a subsequent beneficiary of the programme. David has been trying to secure a further contract with the organisation (and with other organisations), but has no idea how to engage with his prospective clients, subsequent to the ESD initiative.

It is a situation familiar to Elmarie Goosen, owner and founder of On Purpose, an organisation that provides training to SMEs to complement supplier development programmes – to prepare SMEs to engage with corporate procurement. She unpacks what procurement can do to help SMEs, in this month’s SmartProcurement.

Supplier transformation initiative in engineering and manufacturing to be introduced

 

manufacturing_engineering_support.jpgA transformation initiative for small businesses in engineering and manufacturing, the Empowered Engineering and Manufacturing Initiative (EEMI), will be launched in September.

The initiative is a collaboration between Smart Procurement World, the Absa Enterprise and Supplier Development Expo and the Steel and Engineering Industries Federation of Southern Africa (SEIFSA).

The initiative is positioned as a platform for industry players to share opportunities and challenges for small and medium empowered organisations, and drive enterprise and supplier development (ESD) partnerships (funding, training, mentoring and support) and other important focus areas in this sector.

4 procurement vetting pitfalls to avoid

 

RudiKruger_2017.jpgMistakes in business come with the territory, but those made in procurement ought to be considered among the most detrimental to the success of an operation. Common procurement related risks include supplier issues such as delivery delays, increases in demand, quality problems and fraud. These issues are often the result of mistakes made in the procurement vetting process, Rudi Kruger, general manager of Risk Solutions at LexisNexis Data Services, told SmartProcurement.

Sustainable procurement - start somewhere, it's better than not starting at all...

 

LorraineJenks.jpgResponsible, sustainable, green procurement means selecting products and services that have the least negative impact on the environment as well as the highest positive impact on communities and people. Profit and growth need not be compromised; in many instances it is myth that going green costs more, says Lorraine Jenks, advocate for green procurement in this month’s SmartProcurement.

Purchasing and supplier selection fails to support SMME growth in Africa

 

DouglasBoateng_515x800.JPGA recent study has found that although procurement is globally recognised as playing an essential role in local and regional-wide industrialisation, current purchasing and supplier selection practices do little to support SMME growth on the continent.


The study found that while over 55% of African-government expenditure went towards purchasing and procurement of goods and services, less than 10% of that expenditure was directed towards local suppliers.


In addition, over 80% of the government organisations participating in the study were unaware of the true origin of the goods and services that they were spending their money on, which indicates a clear lack of focus on long-term SMME and enterprise development thinking, writes Professor Douglas Boateng, Chair of the Advisory Board of the Chartered Institute of Procurement and Supply-Africa, in this month’s SmartProcurement.

Handbook: dealing with municipalities and their procurement procedures

 

municipal.jpgFrom black economic empowerment fronting to extending gifts for officials, doing business with municipalities is still far from easy, despite the best of intentions.


A non-governmental organisation, EthicsSA, has landed a helping hand and has produced a 30-page handbook with guidelines on providing services to local government. The booklet covers rules for businesses vying for municipal contracts including how to handle irregularly awarded tenders, as well as what constitutes ethical behaviour and corruption.


 

 

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