PMP Certification refers to project management professional qualification certification. It is initiated by the Project Management Institute (PMI), which strictly evaluates whether the knowledge and skills of project managers have high-quality qualification certification exams. Its purpose is to provide a unified industry standard for project managers. As a project management qualification certification exam, it has established its authority internationally. Since 1984, the Project Management Institute (PMI) of the United States has been committed to comprehensive development and maintains a strict, examination-based expert qualification certification program in order to promote the project management industry and confirm personal gains in project management achievement.

PMP certification has been implemented in China since 1999, and the training center of the State Administration of Foreign Experts Affairs is authorized by PMI to be responsible for the registration and examination organization of PMP certification in China.

Building long-term and reliable relationships with suppliers should be the primary goal of a business that is committed to success in the market.

Let’s take a look at how to improve your business’s relationship with suppliers:

1 Investment buyer relationship management platform

Investing in a supplier relationship management system that tracks supplier information does benefit your supplier relationship in the long run.

2 Use detailed protocol

If you purchase goods from suppliers on a regular basis, the Supplier Relationship Agreement is indispensable.

Write down all expectations of the partnership (e.g., descriptions of goods or services, prices, delivery terms, payment terms, correspondence, etc.), which reduces confusion and reduces the likelihood of disputes.

It’s a best practice to explain the entire process to team members so that everyone knows their responsibilities so that problems arise in the workflow can be identified.

3 Assess risk

Always assess the risks of dealing with suppliers.

Ask for references, examples of their previous work, years of business, areas of expertise, how they responded to the crisis, what they did last time they had to deal with it, and so on.

Here are some questions you should ask:

▪ Are their prices competitive?

▪ Do they have the right experience?

▪ Do they have the ability to process orders?

▪ Are their financial situation stable?

The supplier you choose may not be the most affordable, but if this one guarantees 100% on-time delivery and offers a refund service, it’s more valuable to your business.

If your suppliers let you down, your entire business could be at risk.

4 Understand the importance of supplier partnerships

Supplier relationship management is important because over time, the long-term relationship between your business and its suppliers allows feedback and ideas to flow freely.

Over time, this creates a leaner, more efficient supply chain, which can have a positive impact on costs and customer service.

To manage all your suppliers in one place, use modern SRM vendor management software such as 8MSaaS SRM.

By joining the platform and inviting your suppliers to use it, you’ll be able to communicate more easily and build better long-term working relationships.

(1) Track all key communication and commitment records

In order to maintain good long-term relationships with suppliers, companies must record their key communications and commitments with suppliers through corporate memories, not personal memories.

8MSaaS SRM provides a recording mechanism for enterprises to record their communications and commitments with each supplier, and enterprises can view these records in chronological order.

Clearly and conveniently tracking what has been discussed and promised reinforces the corporate memory of everyone within the company and ensures that they match their words with deeds.

(2) Scientific evaluation, dynamic management of suppliers

The 8MSaaS system will automatically track information and automatically summarize and calculate the evaluation results in real time according to your preset supplier performance management evaluation indicators, such as late delivery rate, rejection rate, price deviation from the benchmark price, etc.

You can also assign different weights to each indicator according to the specific situation of your company. On the basis of scientific evaluation, 8MSaaS SRM helps you improve your supplier profile and conduct dynamic assessments.

The system conducts real-time and quantitative assessment and evaluation of each procurement behavior in accordance with the evaluation index system.

Taking the assessment results as the basis for decision-making, we will gradually eliminate suppliers with high product prices, inferior quality, poor service and late delivery, and absorb suppliers with high product quality, technical sticks and good reputation to form a competition mechanism for the survival of the fittest.

(3) Establish an information exchange and sharing mechanism

Efficient information exchange and sharing is the basis for ensuring the good operation of the supply chain.

To achieve cooperation and win-win between procurement enterprises and suppliers, it is inseparable from full communication and communication, and any information asymmetry is not conducive to the cooperation between the two sides.

The 8MSaaS SRM system provides communication tools such as social sharing, implementation chat, and forums for supplier outsourcing activities, and also allows enterprise employees and outsourcers to form relevant teams to work and discuss together as team members.

When enterprises communicate and trade with suppliers, 8MSaaS automatically collects all communication and transaction information, and can be used by users to find and view and analyze in real time.

In summary, strengthening supplier relationship management is the key to maximizing the effectiveness of the enterprise supply system.

Therefore, in procurement management, enterprises should attach great importance to supplier management and make positive efforts, establish a relationship of mutual trust with suppliers, and achieve information sharing to improve the appearance and economic situation of enterprise procurement management and maximize the benefits of the entire supply chain.

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