Do you wanna know why Procurement fails at supplier relationship management?
If you’re a member of the 5% club, there’s no need to read this post. [NOTE: Only 5% of B2B customers get their suppliers best work.]
Still reading. Ok, ask yourself “How does the 5% club exists when companies are spending billions on supplier management solutions?”
After reading this use case, you’ll understand …
USE CASE [CPO leads Procurement for a Fortune 1,000]
Me: How many strategic suppliers do you manage?
CPO: hmmmm, …. about 300.
Me: And… how many internal stakeholders rely on those 300 suppliers?
Me: Any of those stakeholders ever complain to your team about supplier performance?
Me: How do they reach out to you?
CPO: Emails. Voice-mails.
CPO: How so?
Me: Well… how many emails do you get daily?
CPO: Too many.
Me: How many voice-mails?
Me: Do you see where I’m going?
CPO: Yep. We’re missing a lot of concerns about our suppliers. The concerns are buried. But what could we do?
Me: Have you tried documenting stakeholder concerns via surveys?
CPO: Hah! Who has time to do that? Plus, our employees never respond. So why bother?
Me: Well… 95% of B2B customers DON’T get their suppliers best work. Think you’re in the 5% club?
Me: As if that’s not enough, poor performing suppliers can erode up to 4% of your company’s profit. Said another way, undocumented supplier concerns negate most of the savings your team identifies.
CPO: I suppose getSayDo can help?
Me: You bet. We’ll validate and monitor your suppliers’ performance.
Me: For starters, our survey response rates are 10X industry standards. Additionally, we will ….
1) Match your employees with the suppliers they rely on,
2) Capture how your employees feel about their matched suppliers,
3) Distribute insightful, auto-populated dashboards,
4) Pinpoint when/why suppliers and your stakeholders are vs. are not aligned.
5) make sure both you and your suppliers have real-time notifications/access to the results.
CPO: Sounds like a great solve. But we don’t have the budget for a powerful solution like that.
Me: Our service is FREE for buy-side users.
CPO: Sweet! How do we get started!
Me: Click this image …