Michels explained, “Supplier relationship management is a process for working with suppliers across the supply chain in order to maximize value. Supplier relationship management is crucial and more important now than ever before, especially as industries consolidate. For years the procurement organization was focused on price and cost. As you master price and cost, you gain transparency into the suppliers’ cost structure. When all is said and done, you want a supplier to have a healthy operating margin, so they’re able to innovate, develop new products, and keep investing in the business. Even after you have optimized the margin, you still need to drive cost and value and the only way to do that is by using supplier relationship management to identify new specifications, materials, and processes, eliminate waste, and really drive value.”
To read the entire article, go to: http://www.foodmanufacturing.com/
Bill Michels is President of ISM Services, a specialty training & consulting company that focuses on procurement and supply chain management. Mr. Michels is also President of ADR-ISM Supply Chain Management Consulting (Shanghai) Co., Inc., and a Senior Vice President of the Institute for Supply Management™. His ability to transform procurement and supply chain and deliver a change process has led clients to increased long-term profitability, enhanced staff competence, and sustainable cost and value improvements.
Food Manufacturing offers a from-the-field perspective, keeping U.S. food processing plant managers, engineering personnel, facility maintenance professionals, and other decision makers fully apprised of new product information, technology, and processes.
TraceGains (www.tracegains.com) provides food and ingredient manufacturers and brokers with a web-based, full-service supplier, compliance, and regulatory document management solution that automates the management of supplier risk, data, and documentation, making companies 365 Audit Ready™.
TraceGains’ cloud-based SaaS solution works with in-house solutions such as quality management systems (QMS), enterprise resource planning (ERP), and product life-cycle management (PLM), to close the loop on upstream risk. This solution provides collaborative supplier management, and eases compliance with the Food Safety Modernization Act (FSMA), the Global Food Safety Initiative (GFSI), and internal business compliance requirements including hazard analysis and critical control points (HACCP).
TraceGains digitizes all incoming supplier documents, making them easily searchable. TraceGains also extracts critical data and analyzes them against customer-specific business and compliance rules, alerting stakeholders to any non-compliance.
TraceGains’ customers boast a four to six month return on their investment. TraceGains is Food Logistics Top 100 software and technology providers. Follow TraceGains on Twitter @TraceGains.
Director of Media and Content