Engaging the supplier during the initial product development process has been recommended for effective supplier relationship management (SRM).
Bob Price, director of global supply chain management at Kimball International, said that applying this type of "collaborative approach" was one of the most useful tools in the procurement system.
Along with others in the procurement industry, Mr Price was interviewed by eyeforprocurement and asked about the importance of SRM.
By communicating with suppliers at the early stages of development "they will help develop components, capabilities, identify materials and work with our engineering team", he added.
In addition to Mr Price's comments, the Northrop Grunman Corporation said its main focus for 2008 was monitoring spend analytics tools and implementing a new purchasing shared service organisation.
Meanwhile, related procurement news has included the Indian state of Gujarat named as the best in the country for its electronic system in the year 2006-7.
The region was awarded the title of best eprocurement by Computer Society India.
|