What are your suppliers thinking?
The last few weeks has seen countries, businesses and most importantly people facing unprecedented challenges. For us, what is becoming evident is the ability of people and businesses to respond to these challenges and adapt rapidly to what for some time might well be the new normal.
You’ve heard the story before, a new executive has joined the business, has ignored all processes and bought in ‘their favourite consulting company’ to review operations and they started 3 weeks ago….
Managing consulting and professional services organisations is a challenge almost every organisation grapples with. It is often compounded by the consulting company having contacts, relationships and often alumni at all levels of your organisation, meaning that, to manage them effectively, you also need to manage your own internal stakeholders effectively as well. Here we look at the common challenges faced in managing consulting companies and some techniques to help you.
There are a number of challenges that arise when we want to explore guided innovation as a source of value in a (hopefully strategic, but not always) supplier relationship. The challenges range from stimulating good ideas through to handling the ideas and keeping suppliers engaged. In this blog we’ll look at just one of the challenges we uncovered through performing our annual global research into SRM best practices – what do people actually mean when they use the term innovation?
In 11 years’ of research, State of Flux has demonstrated one very consistent feature of the way organisations manage relationships with suppliers: they fail to invest in technology. In the decade that has seen an explosion in business-ready cloud-based software such as Salesforce.com and HubSpot, it is remarkable that for 86% of organisations, the main software for managing information about supplier relationships is Microsoft Excel.