The summer months don't mean the Institute for Supply Management is taking a vacation. Quite the opposite. Throughout the next several months ISM's New Jersey chapter is sponsoring a series of thought leadership webinars for Procurement and Spend Management professionals. On Wednesday July 17th, Source One Director Jennifer Ulrich will serve as host.
Recognized as an authority on topics including Procurement Transformation and Category Management, Ulrich will offer insights on another all-important topic - supplier relationships. In End-to-End Supplier Relationship Management: Driving Value Through Segmentation, she'll advocate for a more nuanced and strategic approach to engaging suppliers.
As the Procurement function continues to evolve, so do the obstacles and risk factors facing organizations. Ulrich suggests that's part of why strategic supplier partnerships are so essential. "Holding suppliers at arm's length," she says, "or attempting to employ one-size-fits-all strategies won't work for organizations engaged in truly strategic activities." She'll encourage attendees to break their supply bases down into four discrete segments: Strategic, Essential, Commodity, and Transactional.
On one end of the spectrum, strategic suppliers require a significant investment and make a significant impact. Transactional suppliers, on the opposite end, are typically engaged for one-off purchases and short-term initiatives. Like Essential and Commodity suppliers, they compel a unique approach and provide a unique set of potential value adds.
Registration for next month's webinar closes at 4:00PM Eastern on July 16th. Both ISM members and non-members are invited to sign up today.