Masterclass in Supplier Relationship Management: SRM
Improve your Contractual Relationships and Deliver Successful Projects
Supplier Relationship Management (SRM) is the process of systematically and efficiently managing suppliers in order to maximise operational and commercial performance and effectively handle risk.
An organisation’s suppliers are often its lifeblood and when suppliers are managed properly they can be a source of very significant value. Unlock the long-term benefits of Supplier Relationship Management (SRM) with this comprehensive one-day masterclass focusing on key aspects such as cost reduction, Early Supplier Involvement (ESI), and innovative programs.
Upcoming start dates
Suitability - Who should attend?
This one-day masterclass in Supplier Relationship Management (SRM) is specifically designed for:-
- Contract Managers
- Procurement Managers
- Supplier Managers
- Vendor Managers
- Project Leaders
- Team Leaders
- Supervisors
PLUS anyone who is responsible for / involved in Supplier / Vendor Management, or anticipates being involved with Supplier / Vendor Management in the future.
Outcome / Qualification etc.
Benefits of Attending
Supply Base Rationalization and Pareto Analysis: Begin with Supply Base Rationalization, utilizing Pareto Analysis to categorize suppliers efficiently. Explore various approaches to supplier categorization, emphasizing trust, communication, and Supplier Diversity.
Crucial Elements:Learn about the importance of senior management support, establishing clear goals, and map-ping the supply chain for effective SRM. Supplier evaluations cover a spectrum of criteria, including financial, quality, organizational, labor, and performance aspects.
Supplier Exit Strategy:Address the significance of a well-planned "Supplier Exit Strategy" for a smooth transition to a replacement source. Understand the orderly processes required for a seamless shift in supplier relationships.
Successful Customer-Supplier Relationships:Overall, the course delves into the principles of successful customer-supplier relationships within the realm of SRM. Gain insights into fostering collaboration, trust, and strategic alignment with suppliers.
Elevate your SRM expertise and cultivate enduring partnerships that drive efficiency and innovation.
Training Course Content
Upon completion of the Fundamentals of SRM course, the participant will:
- Learn how to rationalize (optimize) their supply base which involves activities such as spend segmentation, leverage through reduction and cultivating key relationships based on the ABC approach
- Understand the benefits that result from the above including reduced risk, lower TCO-Total Cost of Ownership (see Applications In Cost Modeling course), pursuit of value added activities and overall, streamlined SCM
- Be able to segregate suppliers into the Transactional (tactical price-buy), Collaborative (blanket orders) or Strategic (SMI) categories
- Compare and contrast the rating categories of Pre-Qualified, Approved, Certifiable, Certified, Preferred, Partnerships or unfortunately, Disqualified
- Engage in Supplier Segmentation by following four progressive steps
- Review the eight key ways to maintain good supplier relationships from training and education to paying on time
- Be able to segregate suppliers into Basic, Operational, Business Strategic categories
- Explore how supplier innovation (with both customer-supplier inputs) can lead to good SRM
- Implement Diversity programs MWBEs and/or HUBs (as noted above) as a social/community responsibility or as a customer/governmental requirement including both issues and elements
- Perform Supply Chain Mapping (a visual representation) including various samples and a review of the SCOR – Supply Chain Operations Reference model
- Perform detailed financial evaluations on your suppliers with a focus on the Balance Sheet, Income Statement and key ratios
- Perform detailed quality evaluations on your suppliers with a focus on the suppliers own incoming quality, testing capability, SPC – Statistical Process Control, and TQM- Total Quality Management
- Perform detailed overall supplier organization evaluations with a focus on top management commitment, technical competence and technical support
- Perform detailed supplier labor evaluations with a focus on skill sets, training and industrial relations policies
- Perform detailed overall performance evaluations with a focus on lead/cycle time reduction, delivery, capacity and productivity
- Understand the importance of good housekeeping – “a place for everything and everything in its place”
- Create a good Supplier Exit Strategy before the relationship begins if a divorce ensues including internal/external factors and risk
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BMTG (UK) Ltd - Global Business Training
BMTG (UK) Ltd collaborates with an international network of partners to offer a wide range of Business Management training courses to individuals, corporate delegates and companies worldwide. BMTG's mission is to become the partner of choice for the delivery of...