Best Practices In Supply Chain Management

Doing business in today's competitive global economy requires stronger, more reliable relationships in all business segments, including technology equipment, industrial goods, retail products and services. Whether you are a buyer or supplier, regardless of the industry, you must have an understanding of the challenges inherent in the procurement process.

Five Concerns for the Buyer.

1. Game Plan Consensus.  An effective procurement process begins with the participation of all internal stakeholders from the initiation of a project.  Many procurement problems arise from miscommunication - and especially lack of communication - among the parties charged with defining the need, those who identify the source for the solution and those implementing the procurement.  Poor communication on the front end of procurement can cause large problems, however, with planning many problems can be avoided.