Imagine this scenario: There is a YouTube video of one of your signature products being made in the most heinous way with the most hideous raw materials that has suddenly…
Browsing: Supplier Relationship Management
I was invited (thanks to John Caltagirone – Director of the SVC) to the 2nd Annual Chicago Supply Chain Summit at Loyola University’s Quinlan School of Business which was sponsored…
Since three letter acronyms are de rigueur in the consulting world, I thought I’d start with them. TRV is totally made up but it stands for Total Relationship Value. RAR is real and I’ll discuss that later. In this age of Big Data, it should come as no surprise to anyone that retailers have been keeping tabs on what you return. It turns out that close to 10% of total sales are returned (about $264 Bn) so it is a big problem.
It’s actually sitting right under our nose . . . . . . but we manage to snub our nose at this function time and time again. It’s Purchasing – not Strategic Sourcing, not Category Management, not Global Sourcing, not the forever –exalted Supply Chain (and it’s ever changing scope /definition) but simply Purchasing! And I say Purchasing with all the professional respect this group deserves BUT seldom receives.
Tapping into a higher value dimension requires adopting a new mindset, utilizing new skills, and executing new habits. The Mpower Group’s value approach is to shift the supplier relationship to where there are enough rewards from success to thoroughly share the spoils.
While Covey’s seven habits are meritorious, not following them inhibits greatness. In that spirit we present Seven Habits of Highly Dangerous Suppliers.