Identify suppliers that match the company's requirements
2
Research potential suppliers
3
Collect quotations from potential suppliers
4
Analyze suppliers' financial status
5
Analyze suppliers' market reputation
6
Evaluate supplier's quality of product or service
7
Compare supplier pricing
8
Evaluate supplier reliability and capacity for delivery
9
Evaluate supplier's previous relationship with your company or references
10
Arrange suppliers meeting
11
Approval: Procurement Manager
12
Negotiation with selected supplier
13
Draw up a supplier contract draft
14
Approval: Legal Team
15
Sign contract with the selected supplier
16
Onboard the supplier into the company's system
17
Train staff on new supplier's procedures and products
18
Monitor and assess supplier's performance
19
Regularly communicate with the supplier
20
Revise and renew supplier agreement when necessary
Identify suppliers that match the company's requirements
This task involves identifying suppliers that meet the company's specific requirements. Consider the company's needs and preferences in terms of product or service quality, pricing, reliability, and delivery capacity. The goal is to find potential suppliers that align with the company's values and goals.
1
Quality
2
Pricing
3
Reliability
4
Delivery Capacity
Research potential suppliers
In this task, research potential suppliers that have been identified in the previous task. Consider factors such as their reputation, market position, customer reviews, and industry experience. Gather relevant information and create a shortlist of potential suppliers to proceed with.
1
Market Leader
2
Competitor
3
New Entrant
Collect quotations from potential suppliers
This task involves reaching out to the shortlisted potential suppliers and requesting quotations for the required products or services. Provide them with clear requirements and ask for detailed pricing information. Compare the quotations to evaluate the cost-effectiveness and competitiveness of each supplier.
1
Cost-effective
2
Competitive
3
High-priced
Analyze suppliers' financial status
Analyze the financial status of potential suppliers to assess their stability and capability to meet the company's ongoing needs. Evaluate their financial statements, creditworthiness, and payment terms. The goal is to ensure that the selected suppliers have a sound financial position.
Analyze suppliers' market reputation
Research and analyze the market reputation of potential suppliers. Consider factors such as their customer feedback, testimonials, online reviews, and ratings. Assess their track record in delivering quality products or services to gain insights into their overall market reputation.
Evaluate supplier's quality of product or service
Evaluate the quality of products or services offered by potential suppliers. Consider their certifications, quality control processes, and any relevant industry standards. The goal is to assess whether the supplier's products or services meet the company's quality requirements.
Compare supplier pricing
Compare the pricing offered by different potential suppliers to determine the most cost-effective option. Take into account the quoted prices, any discounts, and the overall value for money. Consider the company's budget and negotiate with suppliers if necessary.
Evaluate supplier reliability and capacity for delivery
Evaluate the reliability and capacity of potential suppliers to ensure they can consistently deliver products or services on time. Consider their track record, delivery timelines, and any potential bottlenecks or challenges. The goal is to select a supplier that can meet the company's delivery requirements.
Evaluate supplier's previous relationship with your company or references
Evaluate the potential supplier's previous relationship with your company, if applicable, or seek references from other clients. Consider factors such as previous interactions, customer satisfaction, and any issues that may have arisen. The goal is to gain insights into the supplier's compatibility with your company.
Arrange suppliers meeting
Arrange a meeting with the selected supplier(s) to discuss the terms and conditions, negotiate pricing, and clarify any queries or concerns. Ensure all relevant stakeholders are involved to make informed decisions and establish a mutually beneficial partnership.
Approval: Procurement Manager
Will be submitted for approval:
Collect quotations from potential suppliers
Will be submitted
Analyze suppliers' financial status
Will be submitted
Analyze suppliers' market reputation
Will be submitted
Evaluate supplier's quality of product or service
Will be submitted
Compare supplier pricing
Will be submitted
Evaluate supplier reliability and capacity for delivery
Will be submitted
Evaluate supplier's previous relationship with your company or references
Will be submitted
Arrange suppliers meeting
Will be submitted
Negotiation with selected supplier
Engage in negotiation with the selected supplier to finalize the terms and conditions of the partnership. Consider factors such as pricing, payment terms, delivery schedules, and any additional requirements. The goal is to reach a mutually satisfactory agreement that benefits both parties.
Draw up a supplier contract draft
Create a supplier contract draft based on the agreed terms and conditions. Include provisions regarding pricing, delivery, quality assurance, payment terms, and any other relevant clauses. Seek legal advice if necessary to ensure the contract is comprehensive and legally binding.
Approval: Legal Team
Will be submitted for approval:
Draw up a supplier contract draft
Will be submitted
Sign contract with the selected supplier
Sign the final supplier contract with the selected supplier(s) after all parties have reviewed and approved it. Ensure all necessary signatures and documentation are in place to formalize the business relationship.
Onboard the supplier into the company's system
Onboard the selected supplier into the company's system by providing them with the necessary documentation, access credentials, and any relevant training materials. Ensure they are aware of the company's policies, procedures, and expectations.
Train staff on new supplier's procedures and products
Provide training to staff members involved in working with the new supplier. Familiarize them with the supplier's procedures, products, and any specific requirements or expectations. Ensure they are equipped with the knowledge and skills to effectively collaborate with the supplier.
1
Procedure Training
2
Product Training
3
Expectations
Monitor and assess supplier's performance
Continuously monitor and assess the performance of the selected supplier(s) to ensure they meet the agreed-upon standards and expectations. Use key performance indicators (KPIs) to measure their performance and address any issues or concerns in a timely manner.
Regularly communicate with the supplier
Establish regular communication channels with the selected supplier(s) to maintain a strong relationship. Schedule periodic meetings, provide feedback, share updates, and address any queries or issues. The goal is to foster effective collaboration and ensure both parties are aligned and satisfied.
Revise and renew supplier agreement when necessary
Regularly review and revise the supplier agreement to ensure it remains relevant and aligns with the changing needs of the company. Consider factors such as pricing, performance, market conditions, and any emerging opportunities or challenges. Renew the agreement as needed to sustain a successful supplier relationship.
