Supplier Selection and Supply Chain Management

Picking the right supplier is an important decision in the supply chain management process. A good supplier can contribute to the success of a business by providing high-quality products or services at competitive prices, delivering on time, and being responsive to the needs of the business. On the other hand, a poor supplier can cause problems such as delays, defective products, or unexpected costs.

There are several factors to consider when selecting a supplier, including:

1. Quality: The supplier should be able to provide products or services that meet the required specifications and standards.
2. Cost: The supplier should offer competitive pricing that is in line with the budget of the business.
3. Delivery: The supplier should be able to deliver products or services on time and in the required quantities.
4. Responsiveness: The supplier should be responsive to the needs of the business and able to adapt to changes in demand or other requirements.
5. Reputation: The supplier should have a good reputation in the industry and be known for meeting the needs of its customers.
6. Capability: The supplier should have the necessary resources and capabilities to fulfill the needs of the business.

To select the right supplier, it is important to conduct thorough research, gather information from multiple sources, and evaluate potential suppliers based on the factors mentioned above. It may also be helpful to visit the supplier’s facilities, ask for references, and negotiate terms and conditions to ensure that the supplier is a good fit for the business.

Supplier Management Training.

• ALL Procurement Blogs with details.
• B2B Purchasing Negotiation Five Strategies to Reduce Vendor Prices.
• Free Supply Chain Training.
• Getting to Yes – Negotiation Skills (17 minute video).
• Negotiating with Sole Suppliers.
• Procurement supplier selection process (10 minute video).
• Procurement Training, Purchasing Training, Supply Chain Management Training.
• Purchasing and Procurement Defined.
• Science Of Persuasion (11 minute video).
• Strategic Sourcing and Better Contract Negotiations.
• Strategic Sourcing for Successful Supply Chain Management.
• Strategic Sourcing Plan (10 Minute video).
• Strategic Sourcing Seminar.
• Supplier Negotiations & TCO Strategies.
• Supplier Relationship Management Best Practices with David Wohler (6 minute video).
• Supplier selection and certification (10 minute video).
• Supplier Selection and Supply Chain Management.
• Supply Chain Training Resources.
• What are common issues that arise in procurement?  Facebook discussion.

Negotiation Quotes

• “One cannot negotiate under fire.” ~ Ariel Sharon
• “One of the best ways to persuade others is by listening to them.”  ~ Dean Rusk
• “Never cut what you can untie.” ~ Joseph Joubert
• “Treating suppliers like partners is critical to a company’s start-up’s success. As much as possible, figure out how you can work with your suppliers to make their lives better, whether saving them money from their vendors or saving them time with your order. By understanding their business model, you can make orders in an efficient manner, which should lower costs for everyone.” ~ Aaron Schwartz
• “If you are planning on doing business with someone again, don’t be too tough in the negotiations. If you’re going to skin a cat, don’t keep it as a house cat.” ~ Marvin Levin
• “Anger can be an effective negotiating tool, but only as a calculated act, never as a reaction.” ~ Mark McCormack
• “The most critical thing in a negotiation is to get inside your opponent’s head and figure out what he really wants.” ~Jacob Lew
• “Never forget the power of silence, that massively disconcerting pause which goes on and on and may last induce an opponent to babble and backtrack nervously.” ~ Lance Morrow
• “The best move you can make in negotiation is to think of an incentive the other person hasn’t even thought of – and then meet it.” ~ Eli Broad
• “Sometimes one pays most for the things one gets for nothing.” ~ Albert Einstein