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Topic: supplier relationship

5 Things to Know About Sourcing Globally

Global sourcing occurs when companies go beyond their home borders for sourcing goods and services. There are many benefits to doing so, but there also are risks involved, we have identified five major risks and some ways to mitigate them. Time Differences Having a supplier on the other side of the world often means that […] ... Read More

  February 3, 2018     

Deciphering the Benefits of Supplier Relationship Management

What is a supplier relationship management? Effectively, supplier relationship management (SRM) is a systematic, enterprise-wide process, analysing supplier’s assets and capabilities against the company’s business strategy. This process assesses and determines what activities a business wants to take part in with different suppliers. It allows ... Read More

  January 26, 2018     

6 Factors of Considering a New Supplier

The best suppliers will provide the most suitable goods or services at the right prices and within the right time frames for your business needs. Below we give you six factors you need to know when considering a new supplier. Finding a Supplier A great place to start is generally online. This is one of […] ... Read More

  December 16, 2017     

Finding Value-Adding Suppliers

When running a company, it is vital to understand all factors affecting inventory management, which includes suppliers and the dependence of the company on them. Without product supply, the company cannot provide for their own customer’s needs which essentially jeopardises profits and survival. However, it is not just the act of being able to sup ... Read More

  December 16, 2017     

Three Challenges that Require F&B Manufacturers to Innovate

Food and beverage producers have been innovating for more than a century; the industry has consistently improved by creating innovative flavours, improving shelf stability and reducing production costs to make food available for more people than ever before. Now, as the industry faces more significant challenges than ever before, the food and bever ... Read More

  November 27, 2017     

Feeding and Growing Your Supplier Relationship

PricewaterhouseCoopers have conducted research into supplier relationship management and have found that sadly, few companies do it well. Successful supplier relationship management (SRM) is an untapped source of opportunity which should be carefully considered and implemented for increased business success and smooth operations. Rarely are compani ... Read More

  November 24, 2017     

Understanding What Is Inventory Control

Inventory control regulates the stock that is already in your warehouse. This involves knowing what is in stock, where is it located in the warehouse, and the condition it is in. It is also about ensuring your warehouse is set up in a way that allows warehouse staff to quickly pick and pack products to […] ... Read More

  November 24, 2017     

Understanding What Is Inventory Management

As a component of supply chain management, inventory management oversees the flow of goods or components from manufacturing to warehouse, and ensuring goods are tracked and well stocked. This includes determining when to order products, in what quantities and from which supplier. Efficient inventory management ensures that your business will always ... Read More

  November 23, 2017     

Hops Aren’t Enough: Four Quick Wins for Brewery Supply Chain Success

Although craft beer still makes up a small percentage of the beer market, tastemakers are increasingly favouring pilsners, pale ales and stouts over crisp session lagers. The craft beer industry is approaching a crunch point, with more small scale craft brewers competing for consumer loyalty than ever before. Developing a reputation for innovation ... Read More

  November 13, 2017     

A guide to optimising your supply chain lead time

Inventory control is all about ensuring there is always enough inventory stock to supply customers with what they need when they need it. It also involves reducing the volume of any inventory stock kept in storage unsold, as this can be at risk of becoming obsolete or expired. When inventory stock is under control, these […] ... Read More

  October 30, 2017     

Factors Impacting Inventory Management

Understanding what impacts your inventory management system is crucial, regardless of what type of business you run. These factors can influence your business profitability in ways you might not have considered! Factors That Affect Inventory Management Product Availability Product availability is something to consider when identifying factors that ... Read More

  September 2, 2017     

New Challenges in Supply Chain Management

For a growing business, supply chain challenges are numerous. In the current environment, procurement costs are rising, supply chains are becoming more complex and businesses are having to manage increasingly collaborative relationships with suppliers. Although it can be difficult for many businesses to keep up, investing in your supply chain capab ... Read More

  August 26, 2017     

Six Tips to Reduce Inventory Lead Times

In business, getting access to and holding the inventory you need is key. Holding large reserves of inventory is one way to ensure your business has enough stock on hand, but a better solution may be to focus on reducing lead times in your business’ supply chain. Being able to order stock quickly takes away […] ... Read More

  August 21, 2017     

Five Reasons to Consider Trade Discounts

A trade discount is a variable reduction on the wholesale list price. Manufacturers and wholesalers typically publish a single price list rather than notifying prices to each different customer. Offering a specific trade discount to a customer is a way of varying the sale price for that particular customer. Trade discounts can be an important [&hel ... Read More

  August 10, 2017     

Aim For Better Supplier Relationship Management

In any stock-based business, it is crucial to manage supplier relationships well. Developing constructive relationships with your business’ key suppliers is important to secure reliable supply, unlock competitive pricing and to understand emerging trends that may impact on your business. Despite a growing number of businesses taking a supplier re ... Read More

  August 7, 2017     

Alleviating 5 biggest supply chain challenges

Supply chain managers have seen increasing challenges to create, and keep, efficient and effective supply chain methods. Customers are demanding innovative products at a reasonable price and at the right time. This creates challenges for businesses since creating both responsive and cost-effective supply chains is critically difficult and often cou ... Read More

  July 29, 2017     

Implementing win-win supplier relationship management techniques

It is time to start embracing supplier relationship management (SRM). There are a number of general principles that are useful to understanding, promoting and implementing good SRM in business. With some listed below, these tools represent a checklist on what may be possible between the specific business, supply chain and key relationships players ... Read More

  July 28, 2017     

Selecting Suppliers: Three Factors to Consider

Many businesses find it difficult to identify reliable suppliers who can deliver quality product on time. Whether you are a manufacturer, a wholesaler or a retailer, liaising and negotiating with suppliers can be a stressful and time-consuming process. Let’s look at three key factors you should consider when selecting a supplier. Negotiating pric ... Read More

  July 24, 2017     

Goal: Successful supply chain management

Have you ever sat back and wondered how giant companies such as Apple, Walmart and Ikea became so successful both in their reach and their inventory turnover? Well, it turns out they are model companies when it comes to supply chain management, which essentially governs the whole process from purchasing stock to ensuring it is […] ... Read More

  July 8, 2017     

The Benefits of the Just-In-Time Approach

In inventory management, the Just-In-Time or JIT system reduces wastage, improves efficiency and productivity, and contributes to smoother production flows. A shorter production cycle can decrease financial costs, inventory costs and labour costs. Below, we summarise the key features of the JIT approach. Smooth production flow One of the key featur ... Read More

  June 29, 2017     

5 Inventory Management Strategies to Boost Results

Inventory is one of the key factors that can be managed to improve business performance. The strategies in which a company manages its inventory has major consequences to performance. There is a real need and a shift to more efficient inventory management and software can help achieve this. In particular, software that oversees inventory management ... Read More

  June 27, 2017     

Consider these aspects of inventory management

In most businesses but particularly in retail, having the right amount of stock on hand that is in optimum condition and within the expiry date, is the key to instigating sales and creating a reliable customer experience. To do this is no easy feat and there are often a lot of managerial practices that must […] ... Read More

  June 8, 2017