Certified Professionals in Supply Management or CPSM as we commonly call them contributes to the profit of the company based on effective procurement as well as maintaining the relations with major suppliers.
Professionals with a CPSM Certification are in the frontline of meeting suppliers and it is important that they know how to reconcile the disagreements with suppliers. In short, a good relationship with key suppliers is the key to have a healthy and profitable supply management. The healthier your relationship with your suppliers, the more profitable your company gets.
To have a competitive edge, companies treat procurement organizations and suppliers as their secret competitive weapon and a hidden resource.
Through the years, experts and analysts have proven the benefits of establishing partnership with suppliers. This is when CPSM experts come in because they are the ones that possess a solid background in constructing a “supply chain management plan”.
Supply chain management is commonly used by CPSM experts to utilize distribution channels that are set up across organizations so that all the members of the channel, from suppliers to end users, coordinate their business activities and processes to minimize their total costs and maximize their effectiveness in the marketplace.
Another factor that CPSM experts contribute the most is that they are well-versed when it comes to evaluating their suppliers. Whether CPSM experts are searching out new supplier or benchmarking the performance of current suppliers, they consider the following options:
Commitment to quality
CPSM experts regard product quality as an integral factor in selecting a supplier. Every CPSM expert know that one way to retain or attract customers is through the delivery of quality products, thus selecting the best supplier that can bring a high standard raw material is of great importance.
Suppliers that do not disclose important information or actively practice deceptions should be avoided. The key to have a healthy relationship with your supplier is disclosure.
Competitive pricing has a huge factor in determining who is the right supplier for your company. This is very essential especially to small businesses who have less financial capacity.
Negligent suppliers have no place in your company. When shipments slip, business strategies prepared by CPSM experts may suffer. The blow on delayed shipments can be detrimental to the operation of the company.
Ability to provide Technical Assistance
Suppliers with top research and development capacities can be quite valuable to buyers, providing them with significant savings in both price and quality.
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