Faster savings by getting closer to suppliers.
Sep 18, 2024 - Closer relationships between buyers and suppliers could create significant value and help supply chains become more resilient. In addition, in all industries, the need to cut procurement spending substantially and quickly is now paramount.
As companies reach the limits of conventional purchasing practices, further progress will require a new approach based on close relationships, cross-functional engagement, and the shared pursuit of new value. Leading companies are taken a different approach. Instead of focusing on goods, they’re focusing on their suppliers. Excelling at supplier collaboration requires a more active and engaged working relationship with suppliers. It also calls for a change in mindset, encouraging both buyers and suppliers to commit to the long-term pursuit of value from their collaborative relationships.
Segmenting their vendors, have a vision for the relationship, become a preferred customer and increase the suppliers’ visibility. Companies that have deployed this approach are getting results. In many cases, they are seeing up to double the procurement savings in just three to four months.
Here’s how they’re doing it.
EPG is one of the leading procurement outsourcing providers in China and have been serving companies with our expertise for over ten years. We focus exclusively on procurement, supply chain and supplier sustainability, and how they can create better results for our clients. Our services, capabilities, knowledge and methodology ensure you get increased savings, more favorable contracts, improved supplier performance and improved speed to value.
Leading companies are taken a different approach. Instead of focusing on goods, they’re focusing on their suppliers.
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