Supplier Relationship Management Training | 3 + 4 December

2 x half days | 9.30 - 1pm

3 + 4 December

In this training you will learn to define supplier relationship management and its strategic importance, assess and segment suppliers using proven frameworks, develop and implement supplier relationship strategies and manage performance and conflicts. You will also learn the benefits of partnering with your suppliers and when to drive collaborative partnerships.

Key inclusions for this training

• Introduction: Understand the evolution from transactional to relationship-based procurement, define SRM and its core components, identify the business case for strategic supplier relationships.

• The business case for SRM: Explore cost reduction, value creation, and risk mitigation and how to drive competitive advantage through supplier partnerships.

• The SRM framework: Integration with overall procurement strategy,  organizational capabilities required and common SRM challenges and pitfalls.

• Supplier segmentation and assessment: Apply supplier segmentation models.

• Supplier performance measurement: Developing balanced scorecards, Key Performance Indicators (KPIs) selection, Service Level Agreements (SLAs), benchmarking and continuous improvement and the performance review processes.

• Relationship strategy development: Develop differentiated relationship strategies by supplier segment, create relationship roadmaps and governance structures and design value creation initiatives.

• Value creation: Innovation collaboration frameworks, cost reduction initiatives, process improvement opportunities, market expansion partnerships, sustainability initiatives, joint problem-solving approaches

• Ongoing relationship management: Regular review and communication processes, joint business planning, escalation and issue resolution procedures, relationship health monitoring, adaptation and continuous improvement. We will also look at global and cultural considerations and how to address complex challenges.

• Cross-functional collaboration: Engaging internal stakeholders, alignment with business units, legal and compliance coordination, finance and accounting integration