Reshape Supplier Relationship Performance with Market Dojo

Article: Rule 3: Reshape Supplier Relationship Performance

PARADIGM SHIFT IN E-SOURCING, Procurement, SUPPLIER RELATIONSHIP MANAGEMENT
Blogs, Rules, 3. Reshape Supplier Relationships

Overview

The old procurement playbook just won’t cut it anymore. As Rule 1: Reimagine Strategy and Rule 2: Reevaluate Sourcing have shown, high inflation rates, geopolitical uncertainties, and disruptive events lurking around every corner, mean it’s time to ditch the traditional approaches and embrace the New Rules of Procurement Engagement.

In Rule 3: Reshape Supplier Relationship Performance, we ask leading procurement innovators and industry disruptors to guide you through what it now takes to build exceptional supplier relationships fit for today’s disruptive world.

What are the New Rules?

Rule 3, in our New Rules series, is all about embracing innovation at every turn, connecting experiences and insight to reshape supplier relationship performance from the ground up. To collaborate closely with your suppliers to co-create value, innovate product offerings, hold each other accountable and drive success together.

From harnessing the power of AI, to synergistic supplier networks and ensuring sustainability and diversity, our exciting lineup of changemakers will give you game-changing strategies that will reshape your supplier relationships and performance.

Here is a preview of what’s to come. Pre-register to not miss out.


The AI Fast Track

In the complex world of procurement, data for clarity is critical. With thousands of data points and variables needing to be analysed, procurement leaders must leverage technology to their advantage. 

“Top performing supply chain organisations are investing in artificial intelligence and machine learning (AI/ML) to optimise their processes at more than twice the rate of low performing peers.” Gartner: Top Supply Chain Organisations Adopting AI Fastest

This statement may seem more true for some areas of procurement than others with generative AI and the advancement of autonomous sourcing. But how can technology manage suppliers and transform the day-to-day from output focused to relationship enhancing?

First up, our changemakers will dive into the world of procurement AI

Imagine having a procurement co-pilot to take care of the repetitive, administrative tasks to ensure you are focused on key strategic value creation when running RFPs. Imagine having the ability to anticipate supply chain disruptions before they even happen with predictive analytics. Imagine having the ability to de-risk compliance and proactively leverage ESG as a competitive advantage by automating questions and tenders to navigate legislative compliance.

With generative AI you can streamline many sourcing processes such as building supplier questionnaires and bid sheets, creating reports and effortlessly pulling data for audits. It can provide first-level support through natural language chat-bots, and quickly up-skill teams through guided learning and automated knowledge sharing.

Predictive analytics and AI-driven spend analysis can rapidly analyse historical data, market trends, and external factors to identify potential risks in your supply chain, and proactively identify alternative sources of supply or strategies to stay one step ahead of the game.

Lastly, with AI-powered SRPM solutions, you can streamline supplier onboarding, answer repetitive queries, ensure compliance, manage orders, shipments, inventory, warehousing and so much more. 

Rather than AI fragmenting personal relationships with suppliers, it will enhance them. Say goodbye to tedious paperwork, endless questions and laborious processes and hello to a future where time can be spent on the uniquely human skill of building relationships and cultivating an ecosystem of performance and value.

Furthermore, to address the ever-present talent crisis, AI can bridge the skills gap through co-piloting tools that streamline sourcing processes with autonomous sourcing to allow teams to meet the ever-increasing pressure on procurement to do more with less.

“Hackett Group predicted that procurement’s workload increased by 10.6% in 2023 but with little increase in headcount or operating budget.” Hackett Group: Procurement Key Issues – What’s Top of Mind for Executives in 2023

By exploring the AI Fast Track, we aim to help you develop strategies to succeed with AI.

Death of Strategic Suppliers

Next, our changemakers explore the importance of fostering future-oriented, progressive relationships with suppliers. 

Relationships built for the old supply chain world have likely collapsed under the pressure of the world as it is now. Traditional, prescribed and transactional supplier relationships often hinder innovation, agility, and responsiveness. Disruptions can easily become major setbacks.

It’s not enough to split suppliers into direct versus indirect procurement, or strategic versus non-strategic suppliers. It’s about treating all suppliers, including those where there may not be an active contractual relationship, with the mindset that each one can impact your sourcing strategy and performance, for better or worse. 

This is your challenge. To move away from ‘black book’ relationships. To move beyond a purely transactional mindset and truly cultivate relationships built on trust, accountability, transparency, and mutual growth.

Beyond ESG & Supplier Diversity

To finish, we shine a spotlight on the increasingly important need to champion supplier sustainability and diversity

By helping suppliers commit to environmental stewardship through ESG metrics and social responsibility, you can not only mitigate risks, enhance brand reputation and relevancy, but also drive positive change in your industry, talent pool and community.

Our changemakers discuss the changing dynamics of ESG in the real world, and how to manage the potential risks of non-compliant suppliers.

Ultimately, we hope to convince you to switch from a mindset of ES-Governance to ES-Growth!

Join the changemakers and create your own collaborative success story with Rule 3 of The New Rules of Procurement Engagement

1. Reimagine Strategy

2. Reevaluate Sourcing

3. Reshape Supplier Relationship Performance – register here

4. Redefine Value Creation – coming later

REGISTER TO JOIN OUR CHANGEMAKERS AT marketdojo.com/new-rules/

new rules of procurement engagement

April 3, 2024
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var mndFileds=new Array('First Name','Last Name','Company','Email','Phone'); var fldLangVal=new Array('First Name','Last Name','Company','Email','Phone'); var name=''; var email=''; function checkMandatory() { for(i=0;i<mndFileds.length;i++) { var fieldObj=document.forms['WebToLeads232068000023635057'][mndFileds[i]]; if(fieldObj) { if (((fieldObj.value).replace(/^\s+|\s+$/g, '')).length==0) { if(fieldObj.type =='file') { alert('Please select a file to upload.'); fieldObj.focus(); return false; } alert(fldLangVal[i] +' cannot be empty'); fieldObj.focus(); return false; } else if(fieldObj.nodeName=='SELECT') { if(fieldObj.options[fieldObj.selectedIndex].value=='-None-') { alert(fldLangVal[i] +' cannot be none'); fieldObj.focus(); return false; } } else if(fieldObj.type =='checkbox'){ if(fieldObj.checked == false){ alert('Please accept '+fldLangVal[i]); fieldObj.focus(); return false; } } try { if(fieldObj.name == 'Last Name') { name = fieldObj.value; } } catch (e) {} } } }

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var mndFileds=new Array('First Name','Last Name','Company','Email','Phone'); var fldLangVal=new Array('First Name','Last Name','Company','Email','Phone'); var name=''; var email=''; function checkMandatory() { for(i=0;i<mndFileds.length;i++) { var fieldObj=document.forms['WebToLeads232068000023635057'][mndFileds[i]]; if(fieldObj) { if (((fieldObj.value).replace(/^\s+|\s+$/g, '')).length==0) { if(fieldObj.type =='file') { alert('Please select a file to upload.'); fieldObj.focus(); return false; } alert(fldLangVal[i] +' cannot be empty'); fieldObj.focus(); return false; } else if(fieldObj.nodeName=='SELECT') { if(fieldObj.options[fieldObj.selectedIndex].value=='-None-') { alert(fldLangVal[i] +' cannot be none'); fieldObj.focus(); return false; } } else if(fieldObj.type =='checkbox'){ if(fieldObj.checked == false){ alert('Please accept '+fldLangVal[i]); fieldObj.focus(); return false; } } try { if(fieldObj.name == 'Last Name') { name = fieldObj.value; } } catch (e) {} } } }

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var mndFileds=new Array('First Name','Last Name','Company','Email','Phone'); var fldLangVal=new Array('First Name','Last Name','Company','Email','Phone'); var name=''; var email=''; function checkMandatory() { for(i=0;i<mndFileds.length;i++) { var fieldObj=document.forms['WebToLeads232068000023635057'][mndFileds[i]]; if(fieldObj) { if (((fieldObj.value).replace(/^\s+|\s+$/g, '')).length==0) { if(fieldObj.type =='file') { alert('Please select a file to upload.'); fieldObj.focus(); return false; } alert(fldLangVal[i] +' cannot be empty'); fieldObj.focus(); return false; } else if(fieldObj.nodeName=='SELECT') { if(fieldObj.options[fieldObj.selectedIndex].value=='-None-') { alert(fldLangVal[i] +' cannot be none'); fieldObj.focus(); return false; } } else if(fieldObj.type =='checkbox'){ if(fieldObj.checked == false){ alert('Please accept '+fldLangVal[i]); fieldObj.focus(); return false; } } try { if(fieldObj.name == 'Last Name') { name = fieldObj.value; } } catch (e) {} } } }

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var mndFileds=new Array('First Name','Last Name','Company','Email','Phone'); var fldLangVal=new Array('First Name','Last Name','Company','Email','Phone'); var name=''; var email=''; function checkMandatory() { for(i=0;i<mndFileds.length;i++) { var fieldObj=document.forms['WebToLeads232068000023635057'][mndFileds[i]]; if(fieldObj) { if (((fieldObj.value).replace(/^\s+|\s+$/g, '')).length==0) { if(fieldObj.type =='file') { alert('Please select a file to upload.'); fieldObj.focus(); return false; } alert(fldLangVal[i] +' cannot be empty'); fieldObj.focus(); return false; } else if(fieldObj.nodeName=='SELECT') { if(fieldObj.options[fieldObj.selectedIndex].value=='-None-') { alert(fldLangVal[i] +' cannot be none'); fieldObj.focus(); return false; } } else if(fieldObj.type =='checkbox'){ if(fieldObj.checked == false){ alert('Please accept '+fldLangVal[i]); fieldObj.focus(); return false; } } try { if(fieldObj.name == 'Last Name') { name = fieldObj.value; } } catch (e) {} } } }

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var mndFileds=new Array('First Name','Last Name','Company','Email','Phone'); var fldLangVal=new Array('First Name','Last Name','Company','Email','Phone'); var name=''; var email=''; function checkMandatory() { for(i=0;i<mndFileds.length;i++) { var fieldObj=document.forms['WebToLeads232068000023635057'][mndFileds[i]]; if(fieldObj) { if (((fieldObj.value).replace(/^\s+|\s+$/g, '')).length==0) { if(fieldObj.type =='file') { alert('Please select a file to upload.'); fieldObj.focus(); return false; } alert(fldLangVal[i] +' cannot be empty'); fieldObj.focus(); return false; } else if(fieldObj.nodeName=='SELECT') { if(fieldObj.options[fieldObj.selectedIndex].value=='-None-') { alert(fldLangVal[i] +' cannot be none'); fieldObj.focus(); return false; } } else if(fieldObj.type =='checkbox'){ if(fieldObj.checked == false){ alert('Please accept '+fldLangVal[i]); fieldObj.focus(); return false; } } try { if(fieldObj.name == 'Last Name') { name = fieldObj.value; } } catch (e) {} } } }

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var mndFileds=new Array('First Name','Last Name','Company','Email','Phone'); var fldLangVal=new Array('First Name','Last Name','Company','Email','Phone'); var name=''; var email=''; function checkMandatory() { for(i=0;i<mndFileds.length;i++) { var fieldObj=document.forms['WebToLeads232068000023635057'][mndFileds[i]]; if(fieldObj) { if (((fieldObj.value).replace(/^\s+|\s+$/g, '')).length==0) { if(fieldObj.type =='file') { alert('Please select a file to upload.'); fieldObj.focus(); return false; } alert(fldLangVal[i] +' cannot be empty'); fieldObj.focus(); return false; } else if(fieldObj.nodeName=='SELECT') { if(fieldObj.options[fieldObj.selectedIndex].value=='-None-') { alert(fldLangVal[i] +' cannot be none'); fieldObj.focus(); return false; } } else if(fieldObj.type =='checkbox'){ if(fieldObj.checked == false){ alert('Please accept '+fldLangVal[i]); fieldObj.focus(); return false; } } try { if(fieldObj.name == 'Last Name') { name = fieldObj.value; } } catch (e) {} } } }

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var mndFileds=new Array('First Name','Last Name','Company','Email','Phone'); var fldLangVal=new Array('First Name','Last Name','Company','Email','Phone'); var name=''; var email=''; function checkMandatory() { for(i=0;i<mndFileds.length;i++) { var fieldObj=document.forms['WebToLeads232068000023635057'][mndFileds[i]]; if(fieldObj) { if (((fieldObj.value).replace(/^\s+|\s+$/g, '')).length==0) { if(fieldObj.type =='file') { alert('Please select a file to upload.'); fieldObj.focus(); return false; } alert(fldLangVal[i] +' cannot be empty'); fieldObj.focus(); return false; } else if(fieldObj.nodeName=='SELECT') { if(fieldObj.options[fieldObj.selectedIndex].value=='-None-') { alert(fldLangVal[i] +' cannot be none'); fieldObj.focus(); return false; } } else if(fieldObj.type =='checkbox'){ if(fieldObj.checked == false){ alert('Please accept '+fldLangVal[i]); fieldObj.focus(); return false; } } try { if(fieldObj.name == 'Last Name') { name = fieldObj.value; } } catch (e) {} } } }

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var mndFileds=new Array('First Name','Last Name','Company','Email','Phone'); var fldLangVal=new Array('First Name','Last Name','Company','Email','Phone'); var name=''; var email=''; function checkMandatory() { for(i=0;i<mndFileds.length;i++) { var fieldObj=document.forms['WebToLeads232068000023635057'][mndFileds[i]]; if(fieldObj) { if (((fieldObj.value).replace(/^\s+|\s+$/g, '')).length==0) { if(fieldObj.type =='file') { alert('Please select a file to upload.'); fieldObj.focus(); return false; } alert(fldLangVal[i] +' cannot be empty'); fieldObj.focus(); return false; } else if(fieldObj.nodeName=='SELECT') { if(fieldObj.options[fieldObj.selectedIndex].value=='-None-') { alert(fldLangVal[i] +' cannot be none'); fieldObj.focus(); return false; } } else if(fieldObj.type =='checkbox'){ if(fieldObj.checked == false){ alert('Please accept '+fldLangVal[i]); fieldObj.focus(); return false; } } try { if(fieldObj.name == 'Last Name') { name = fieldObj.value; } } catch (e) {} } } }

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var mndFileds=new Array('First Name','Last Name','Company','Email','Phone'); var fldLangVal=new Array('First Name','Last Name','Company','Email','Phone'); var name=''; var email=''; function checkMandatory() { for(i=0;i<mndFileds.length;i++) { var fieldObj=document.forms['WebToLeads232068000023635057'][mndFileds[i]]; if(fieldObj) { if (((fieldObj.value).replace(/^\s+|\s+$/g, '')).length==0) { if(fieldObj.type =='file') { alert('Please select a file to upload.'); fieldObj.focus(); return false; } alert(fldLangVal[i] +' cannot be empty'); fieldObj.focus(); return false; } else if(fieldObj.nodeName=='SELECT') { if(fieldObj.options[fieldObj.selectedIndex].value=='-None-') { alert(fldLangVal[i] +' cannot be none'); fieldObj.focus(); return false; } } else if(fieldObj.type =='checkbox'){ if(fieldObj.checked == false){ alert('Please accept '+fldLangVal[i]); fieldObj.focus(); return false; } } try { if(fieldObj.name == 'Last Name') { name = fieldObj.value; } } catch (e) {} } } }

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var mndFileds=new Array('First Name','Last Name','Company','Email','Phone'); var fldLangVal=new Array('First Name','Last Name','Company','Email','Phone'); var name=''; var email=''; function checkMandatory() { for(i=0;i<mndFileds.length;i++) { var fieldObj=document.forms['WebToLeads232068000023635057'][mndFileds[i]]; if(fieldObj) { if (((fieldObj.value).replace(/^\s+|\s+$/g, '')).length==0) { if(fieldObj.type =='file') { alert('Please select a file to upload.'); fieldObj.focus(); return false; } alert(fldLangVal[i] +' cannot be empty'); fieldObj.focus(); return false; } else if(fieldObj.nodeName=='SELECT') { if(fieldObj.options[fieldObj.selectedIndex].value=='-None-') { alert(fldLangVal[i] +' cannot be none'); fieldObj.focus(); return false; } } else if(fieldObj.type =='checkbox'){ if(fieldObj.checked == false){ alert('Please accept '+fldLangVal[i]); fieldObj.focus(); return false; } } try { if(fieldObj.name == 'Last Name') { name = fieldObj.value; } } catch (e) {} } } }

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var mndFileds=new Array('First Name','Last Name','Company','Email','Phone'); var fldLangVal=new Array('First Name','Last Name','Company','Email','Phone'); var name=''; var email=''; function checkMandatory() { for(i=0;i<mndFileds.length;i++) { var fieldObj=document.forms['WebToLeads232068000023635057'][mndFileds[i]]; if(fieldObj) { if (((fieldObj.value).replace(/^\s+|\s+$/g, '')).length==0) { if(fieldObj.type =='file') { alert('Please select a file to upload.'); fieldObj.focus(); return false; } alert(fldLangVal[i] +' cannot be empty'); fieldObj.focus(); return false; } else if(fieldObj.nodeName=='SELECT') { if(fieldObj.options[fieldObj.selectedIndex].value=='-None-') { alert(fldLangVal[i] +' cannot be none'); fieldObj.focus(); return false; } } else if(fieldObj.type =='checkbox'){ if(fieldObj.checked == false){ alert('Please accept '+fldLangVal[i]); fieldObj.focus(); return false; } } try { if(fieldObj.name == 'Last Name') { name = fieldObj.value; } } catch (e) {} } } }

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I'm interested in -None- eSourcing/eAuctions Supplier Information Management Contracts Management Savings Tracking Opportunity Analysis Quick Quotes Supplier Collaboration
Lead Gen -None- Demo form Consultation call form Landing Page form Demo Form Spam
Lead Source -None- Advertisement Adwords Web Research Online Social Networking Live Chat Lecture/Talk Professional Org Public Relations Seminar-Internal Seminar Partner Trade Show Network Event Employee Referral External Referral Partner Agent Reseller Cold Call Registration Chat AR Contact NM Contact ND Contact Existing Customer Gov Website Google AdWords Facebook Twitter
Lead Source Detail
var mndFileds=new Array('First Name','Last Name','Company','Email','Phone'); var fldLangVal=new Array('First Name','Last Name','Company','Email','Phone'); var name=''; var email=''; function checkMandatory() { for(i=0;i<mndFileds.length;i++) { var fieldObj=document.forms['WebToLeads232068000023635057'][mndFileds[i]]; if(fieldObj) { if (((fieldObj.value).replace(/^\s+|\s+$/g, '')).length==0) { if(fieldObj.type =='file') { alert('Please select a file to upload.'); fieldObj.focus(); return false; } alert(fldLangVal[i] +' cannot be empty'); fieldObj.focus(); return false; } else if(fieldObj.nodeName=='SELECT') { if(fieldObj.options[fieldObj.selectedIndex].value=='-None-') { alert(fldLangVal[i] +' cannot be none'); fieldObj.focus(); return false; } } else if(fieldObj.type =='checkbox'){ if(fieldObj.checked == false){ alert('Please accept '+fldLangVal[i]); fieldObj.focus(); return false; } } try { if(fieldObj.name == 'Last Name') { name = fieldObj.value; } } catch (e) {} } } }

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tr , td { padding:6px; border-spacing:0px; border-width:0px; }
Consultation Call
First Name*
Last Name*
Company*
Phone*
Email*
I'm interested in -None- eSourcing/eAuctions Supplier Information Management Contracts Management Savings Tracking Opportunity Analysis Quick Quotes Supplier Collaboration
Lead Gen -None- Demo form Consultation call form Landing Page form Demo Form Spam
Lead Source -None- Advertisement Adwords Web Research Online Social Networking Live Chat Lecture/Talk Professional Org Public Relations Seminar-Internal Seminar Partner Trade Show Network Event Employee Referral External Referral Partner Agent Reseller Cold Call Registration Chat AR Contact NM Contact ND Contact Existing Customer Gov Website Google AdWords Facebook Twitter
Lead Source Detail
var mndFileds=new Array('First Name','Last Name','Company','Email','Phone'); var fldLangVal=new Array('First Name','Last Name','Company','Email','Phone'); var name=''; var email=''; function checkMandatory() { for(i=0;i<mndFileds.length;i++) { var fieldObj=document.forms['WebToLeads232068000023635057'][mndFileds[i]]; if(fieldObj) { if (((fieldObj.value).replace(/^\s+|\s+$/g, '')).length==0) { if(fieldObj.type =='file') { alert('Please select a file to upload.'); fieldObj.focus(); return false; } alert(fldLangVal[i] +' cannot be empty'); fieldObj.focus(); return false; } else if(fieldObj.nodeName=='SELECT') { if(fieldObj.options[fieldObj.selectedIndex].value=='-None-') { alert(fldLangVal[i] +' cannot be none'); fieldObj.focus(); return false; } } else if(fieldObj.type =='checkbox'){ if(fieldObj.checked == false){ alert('Please accept '+fldLangVal[i]); fieldObj.focus(); return false; } } try { if(fieldObj.name == 'Last Name') { name = fieldObj.value; } } catch (e) {} } } }

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