By taking the time to thoroughly evaluate your program needs, many of the sourcing hurdles low-volume OEMs face can be mitigated.
70 percent of manufacturers indicated that cost was the greatest challenge keeping them from mapping their sub-tier supply base. Use these five steps to break through the barrier.
The biggest cost reduction rewards will go to supply chain leaders who move beyond industry certification requirements and partner with their sub-tier suppliers to develop and improve their operations.
Supplier interactions contain valuable insights into a supplier’s performance, customer service, pricing, and negotiation tendencies, so tracking each interaction will lead to major sourcing advantages.
Play the long game and focus on building strong supply partner relationships that’ll generate the most long-term value.
Suppliers play a vital role in new product commercialization, which makes supplier identification and qualification sourcing strategies vital to supply base building and to the long-term success of any procurement team.
Use these six tips when sourcing small suppliers to strengthen relationships, reduce supply chain risk, and maximize your program’s success.
Total Cost of Ownership will give you better overall cost in the long-run and will ensure the proper development of qualified supply partners.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.