New year…same goal
Keeping your procurement operations optimized.
But how?
How can you develop a strategy to find the suppliers that match your company's needs best?
How can you know what's happening in your supply chain at any moment?
And of course, let's not forget about trying to find as many as possible cost-saving opportunities.
For all of these questions and more, we keep working on gathering the expert input of procurement professionals so you can discover all the details about what makes a successful procurement strategy.
Introduction
We'll be talking with Eddy Ayala, Purchasing Manager at Velentium, a company specialized in the design and manufacturing of medical devices. Eddy has accumulated an impressive amount of years working in medical supply chains, making him one of the most ideal professionals to talk about procurement challenges.
The problem
We all know that COVID 19 pandemic brought considerable changes to our lives. For businesses, and more precisely for procurement it meant learning that the world isn't always static and that supply chain management needs to include flexibility at the top of its priorities list. But to do that, you've first to find the right people willing to work with you as a supplier.
That's where things can become tricky, even more for small businesses as they have to deal with the reality of seeing suppliers more inclined to partner with larger companies.
Positive relationships
If there's one thing that can positively impact your procurement processes, it is the relationship you forge with your suppliers. Even if you are only starting, you must focus on working closely with your suppliers, keeping communication open and honest so that you can build the ground for a relationship based on trust and loyalty.
Large and small companies
Yes, well established companies have the advantage of already being in the market for a long time, they have standardized processes and probably a big reputation to impress potential suppliers, but there's a downside: Change and flexibility doesn't come easy.
Small businesses, on the other hand, have the privilege of being stuck in fixed ways. There's certainly more openness to go and try new things, if that's what customers want.
Keep your eyes on quality
Eddy knows well that more often than not, a business's procurement goals are driven by discovering ways to reduce costs, and while that's important, it shouldn't be your only objective. Quality, for example, is fundamental.
If you don't give your clients a high-quality product that speaks to their needs, odds are they won't come back to your company a second time.
Avoid common pitfalls
Don't be dead set on an ideal supplier. Yes, you have the right to choose the option that's more aligned with your company's interests but you also have to bear in mind that there's no such thing as the perfect supplier. Just like with regular people, you'll have to work on your relationship and focus on improving your weakest points.
Give visibility the importance it deserves. Learn to understand your company's data so that you can make the right decisions and improve on time your processes.
