Supplier Management Portfolio - Doc
Added on 2021-05-27
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Supplier Management Portfolio1Supplier Management PortfolioStudent’s NameCourseStudent’s IDLocation of InstitutionDate
Supplier Management Portfolio2AbstractThe purpose of this assessment was to develop a supplier management portfolio majorlyto assist supply chain departments to smoothen their activities in ensuring the contract is given tothe right supplier who meet the deadlines in provision of the requested services). Portfolioprovides valuable relationships with the suppliers leading to improvement of the servicesdelivery. For a better and common values with suppliers, tools such as KPLs, terms ofconditions, evaluation and assessment templates are incorporated in this portfolio. Establishmentand maintaining of a good relationship with the suppliers is the core target of this portfolio.Rewarding for the best and well performed supplier is one of the tool that helps in the keeping ofthe good relationships. For proper services and respect of agreements, this portfolio provideterms and conditions in which all parties should honor. Failure to honor the contract leads to thedisputes which can leads to leads to strange working conditions. This portfolio provide a clearprocedures for dispute resolutions and avoidance Executive summaryGlobalization has altered the way supply chain is being managed. It has forcedprocurement and supply chain management to stand at the core area in every company(Khamseh, 2017, p.1032). This department links most of the multinational companies to the restof the world leading to the success of the firm. In the situations of the supplier and corporateorganization, portfolio stresses different systems of plans to diverse kind of contractors (Sawik,2017, p. 55)Supplier portfolio here is designed to link the organization and suppliers. The global levelcompetition forces the organizations to shift from focusing only at the market but also to focuson the sources of supply through competitive prices, quality and processes. Supplier portfolio
Supplier Management Portfolio3also aims at establishing and maintaining a good relationships with the suppliers leading toimprovement of supplies leading to reliability among each other. For an organization to runsmoothly, its suppliers must be reliable (Baker, 2014; pp.63-66). This paper aims at analyzingand studying the supplier management portfolio providing different tools that helps to ease theactivities in the supply chain department and in the entire organization.This assessment is divided into three major parts namely, supplier management 1, 2 and3. The first section contains a list of KPLs, strategies for effective establishment of goodrelationships with the suppliers, terms and conditions and evaluation portfolio for assessment ofthe suppliers at different occasions (Mohammadzadeh, 2017, p.654).. The second sectioninvolves template for assessing service delivery, copies of emails and letters for supplynegotiations. At this section also there is a checklist for solving issues with the suppliers. Section3 of the portfolio consist of letters from the suppliers and management demanding for differentinquiries.Supply management portfolio 1Key performance indicator (KPIs) for suppliers:These are factors observed to show the competence of the suppliers on the delivery of theservices. These factors serve to guide in deciding the supplier to keep and supplier to avoid(Khamseh, 2017, p.1032).Good and services fit for intended purposesSupply in timeCompliance to stated specificationsFree from the damages
Supplier Management Portfolio4Delivery in fullManageable riskAbility to respond to needs.Good Relationship StrategiesSuppliers are valued since it is a rule that company needs the same way they relied to thecompany (Secundo, 2017, p.43). A vivid relationship with suppliers is maintained through thefollowing ways.Paying the suppliers in time.-Payment is made within the 48 hours of the orderplacement. Payment is made using the authorized mode provided by the supplier. Suppliersshould be informed when the payment is credited to their accounts. Doing this helps maintain agood relationship with the suppliers by avoiding disputes that may arise as a results of delaypayments (Hartley, 2017, p.78)Through sharing of the information-Trusted suppliers are kept aware of the businesstaking place in the company. They are frequently invited to confirm how their supplies are beingused in the firm. This help to develop a trustworthy relationships hence improving delivery of theservices (Ravindran, 2018, p. 67)Through a satisfactory lead period-A lead time of 7 days is provided to the supplier inbetween the placement of the order and the delivery of the good and services. Suppliers arerequired to honor this promise for the smooth operations of the firm.Supplier terms and conditions
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