Procurement Tips:

  1. Know the business strategy; understanding what the business wants to do and how the business wants to do it. 
  2. Understand who and establish who has the authority to do what within the business
  3. Understanding what the business’ objectives are around the capital,
    • Understanding the cost of capital
  4. Ensuring that your supplier relationship can actually deliver on those business requirements
  5. Understanding the principles that you want to engage in the market.
    • Are you looking for a more collaborative approach?
    • Are you looking for strategic partnerships?
    • Or simply wanted them to give you something with ready access (ex: travel, preferred airline over another)

 


“I think the best way to explain a strategic supplier, is a supplier that you have a relationship where you both invest in each other. So a strategic supplier is willing to contribute time and resources. . . to ensure that you can help you achieve your goals because they know that there’s going to be a long-term return there for them.”
-Trent Morris


 

 

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Editor’s Note: This post was originally published in February 2020, under the title “Procurement Tips from Trent” in Logistics Bureau’s website.

 

Contact Rob O'Byrne

Best Regards,
Rob O’Byrne
Email: robyrne@logisticsbureau.com
Phone: +61 417 417 307