How can you meet your boss's expectations in Supplier Sourcing?

Eventually both parties are trying to produce best end products hence understand the goal is crucial. Be flexible and opened for discussion when deviation occurs. Seek the best solutions that work best for both party. End of the day we need to deliver best result and product to same customer.

It’s also vital to identify the nature of the sourcing request early on; - Is it a new product that the company is trying to explore ? - Is it a “non-negotiable” specifications product ? - What’s the acceptable level of deviation from initial requirements ? Answering the above questions will lay the adequate foundation for the sourcing journey and will help avoid unforeseen back and forth and surprises that will cause delays and eventually annoy both you, and your Boss.

My GOALs : 1) Prioritize Stakeholder Satisfaction: Aim to make your boss and other stakeholders, both internal and external, look good. 2)Emphasize Timely Delivery and Quality: Avoid excessive cost-cutting in price negotiations; prioritize timely delivery and high-quality products/services to ensure smooth operations. 3)Acknowledge Team Effort: Involve key stakeholders when finalizing sourcing deals to portray it as a collaborative team effort. Avoid taking sole credit; attribute success to the collective contributions of the team.

As well as understanding the broader business objectives, such as cost reduction, sustainability, quality improvement or innovation also understand the impact to the P&L statements of different business lines. This helps in making decisions that are financially sound.

Clearly understand the specific requirements and expectations my boss has regarding supplier sourcing. This may includes, Research and Identify Potential Suppliers, Cost Analysis, Quality Assessment, Negotiation Skills, Communication and Reporting, Risk Management, Stay Informed About Market Trends, Utilize Technology, Continuous Improvement, Build Strong Relationships.

Ask the right questions by projecting yourself throughout the order’s preparation and delivery cycle. - Is the supplier willing to sign protective contracts ? - what’s the supplier’s approach to QC ? - Is the supplier willing to allow during and post production inspections ? - What happens when deviations occur ? Collecting the right information starts with asking the right questions.

through experience ensuring prospective and current approved suppliers need to meet and surpass the minimum supplier obligations your company expects from them, having a simple signed document contracts them to this. Currently mine includes: * Ethical Business Practices * Environmental Sustainability * Labour Standards * Human Rights * Product Safety & Quality * Deliveries & Logistics * Safe Management on Site (especially on our vessels) * Cyber Security * Reporting, Documentation & Compliance Monitoring * Continuous Improvement By agreeing to these obligations, suppliers, contractors and sub-contractors align themselves with a commitment to corporate responsibility and fosters a partnership where all parties are involved.

Understand your supplier pool and seek for opinions. Create harmony dealing experience to foster good relationship with suppliers to help up during crucial situations.

Know your needs: Start by understanding your internal requirements and future goals for suppliers. Explore the market: Research potential partners, new technologies, and industry trends. Talk to suppliers: Engage with both current and potential vendors for valuable insights. Gather intelligence: Leverage industry resources and networking to stay informed. Analyze and choose: analyze all the data collected select the best suppliers based on data and analysis.

Understand Quality Assurance Practices: When sourcing from traders, agents, or middlemen, inquire about their quality control procedures. Gain insight into their research methods and thought process to ensure the quality of the goods they source.

Before you start: Define goals, fallback, and walk-away positions. Research material costs, forecasts, and labor trends. Build a respectful relationship with the supplier. During talks: Clearly communicate your desired outcome and rationale. Back arguments with data on costs, trends, and benchmarks. Listen actively, acknowledge concerns, and find common ground. Be patient, take breaks if needed to reassess positions. Closing the deal: Know when to agree and seal the deal confidently. Be prepared to walk away politely if a fair agreement isn't possible. Key takeaways: Preparation is key.!! Aim for win-win outcomes. Use data effectively. Communicate clearly and respectfully. Don't rush the process. Know when to close or walk away.

Negotiating smartly involves preparation, active listening, and strategic communication. Define your goals beforehand, understand the other party's perspective, and be flexible. Emphasize collaboration, seek win-win solutions, and maintain a positive tone. Always be ready to walk away if the terms aren't favorable, but aim for a mutually beneficial outcome. One effective negotiating technique is the “Best Alternative to a Negotiated Agreement” approach. Identify your needs before negotiating to establish a baseline. During the negotiation, remain patient, ask open-ended questions, and actively listen to the supplier. Strive for a solution that benefits both sides, and be willing to compromise without sacrificing your essential needs.

Transparent Communication for Win-Win: Clearly communicate your needs to vendors, including resource allocation, perks, and discounts. Encourage open dialogue to allow vendors the space to tailor offers effectively. Be straightforward about your expectations, creating an environment for vendors to provide beneficial solutions.

From my 3 years handling legal contracts with suppliers, it ain't easy to convince supplier to sign the document which is obviously more bias towards customer's benefit. Flexibility and necessary amendment deem as important to have the consensus. When local legal term is invalid for overseas suppliers hence subject to amendments.

Ensure contracts are comprehensive and clear. Include details on pricing, delivery schedules, quality standards, and penalties for non-compliance. Regularly review contracts to ensure they meet evolving business needs and compliance requirements. Leverage technology to track contracts from drafting contracts, managing approved templates and alternative language clauses, measuring contract compliance, managing redlines, and final signed contracts and expiration dates.

Meet with your boss or the team to review the final contract. Evaluate the contract against the original goals. What was learned during the process? What went well and what could be improved? If you were starting the process today how would you change it?

Je concevais l'objectif de manière générale, sans vraiment l'intégrer dans le processus achat. Je viens également de comprendre que mes reportings doivent être plus travaillés.