Supplier Management

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Vendor Master Management 7 Tips

Vendor Master Management strategies are what makes it possible for you to create a strong and mutually beneficial relationship with your service providers and suppliers. That’s why it’s completely wrong and unjust to say that vendor management is nothing more than a couple of negotiations aiming to win the lowest price possible for your business. Vendor master management offers so much more if you press...

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10 Simple Concepts That Everyone Can Use to Reduce Supply Chain Risk

Supplier evaluation checklist strategies vary from company to company. In most cases, they can be a proactive way to expand your organization’s ability to reduce supply chain risk as well as attract and maintain the right suppliers. Establishing a company-wide methodology to help evaluate suppliers is easier than you think and will contribute to making sure that you avoid mistakes....

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Purchase Order Financing Explored

Purchase Order financing is gaining popularity as an innovative tool that allows companies to get cash advances from financiers against certain Purchase Orders. This allows the company which might be short on cash to borrow the funds required to purchase supplies required to manufacture goods rather than use their cash. Purchase Order financing differs from factoring or invoice financing in the sense that it provides...

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Top 10 Benefits to a Vendor Portal

Vendor Portal Benefits take many forms. Many people do not realize just how integrated a configurable a vendor portal will end up until they bring their team together and start to collect requirements. Also known as a Supplier Portal, they are web-based and genuine vendor management solutions that provide multiple benefits with an excellent opportunity to work and communicate with your vendors in a safe, secure,...

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Scrubbing Your Supplier Database

Your Supplier Database contains the data that is the foundation of most of your day-to-day purchasing decisions. Regular scrubbing is not only a best practice for you and your team, but it is a necessary process if you hope to optimize your core enterprise functions.   There’s plenty of room for improvements in this field. Without any exaggeration, we can freely claim that almost each and any...

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