In our last post, I alerted you to a recent SIG article and some posts on Robert Rudzki’s Transformation Leadership blog that had some tips on how to get started with an SRM program and recognize suppliers. In today’s post, I’m going to alert all of you checklist cherishers to an article that appeared in the Supply Chain Management Review last quarter that should also help you down the supplier relationship road.
In a 10-point Action Agenda for Strategic Supplier Relationship Management, Marc Day, Greg Magnan, and Jon Hughes put forward, as expected, a 10-point agenda for action. In brief, their action agenda is:
- Assess the Current Situation
- Build the Business Case and Compute Your ROI
- Establish a Budget and Commit Resources
- Establish Key Metrics
- Establish Your Processes
- Educate all Involved Parties
- Manage the Relationship
- Work Towards the Benefits
- Share the Rewards
- Keep on Top of Your Performance Metrics
This is a good starting point. The only big things to add are:
- Put True Leaders in Charge
- Enable Your Suppliers
It could take some serious leadership skills to pull a new program off successfully without alienating your current supply base and your suppliers are more likely to buy in if they see clear benefits to them from day one.