Mumtaz Energy’s Post

"Effective procurement beats aggressive sales tactics any day.💼 In today's fast-paced business world, success is not just about pushing for the next big sale; it's about strategic, well-planned procurement that supports long-term growth. 🌍 Effective procurement = Building strong, lasting supplier relationships, optimizing costs, and creating value for the entire supply chain. 🚀 Aggressive sales? It may close a quick deal, but procurement focuses on sustainable success. What do you think? How do you balance procurement and sales strategies in your business?"

Sourcing involves identifying the optimal supplier who provides quality goods or services at a price that maximizes business profitability. 𝑾𝒉𝒚 𝒊𝒔 𝑺𝒐𝒖𝒓𝒄𝒊𝒏𝒈 𝑰𝒎𝒑𝒐𝒓𝒕𝒂𝒏𝒕? • 𝗦𝘂𝗽𝗽𝗹𝘆 𝗖𝗵𝗮𝗶𝗻: Balances quality and cost. • 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗦𝗮𝘁𝗶𝘀𝗳𝗮𝗰𝘁𝗶𝗼𝗻: Meets demand effectively. • 𝗕𝗿𝗮𝗻𝗱 𝗥𝗲𝗽𝘂𝘁𝗮𝘁𝗶𝗼𝗻: Ensures product and service consistency. • 𝗖𝗼𝘀𝘁 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁: Reduces overall costs. • 𝗦𝘂𝗽𝗽𝗹𝗶𝗲𝗿 𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽𝘀: Strengthens partnerships.

Unlocking Value in Your Supply Chain Developing trusting connections with suppliers is essential for success in the fast-paced, competitive business environment of today. An essential procedure for assessing and enhancing supplier performance is supplier appraisal, which can result in higher quality, lower costs, and more efficiency from your suppliers. The Importance of Supplier Appraisal: - Supplier appraisal makes sure that your suppliers fulfill the necessary quality requirements, which leads to superior goods and services that satisfy your clients. - You can find opportunities for cost reduction by assessing the performance of your suppliers. This will increase your profitability and competitiveness. - Supplier appraisal contributes to increased productivity and efficiency by streamlining procedures, cutting lead times, and enhancing delivery performance. - Consistent evaluation assists in recognizing possible hazards and reducing them, guaranteeing business continuity and averting possible setbacks. - Supplier appraisal makes sure that vendors follow your company's rules and processes, industry standards, and legal obligations. - Ongoing value creation is facilitated by suppliers' ability to enhance their performance and procedures through regular appraisal. Building solid, cooperative relationships with your suppliers through supplier appraisal is essential if you want to enhance quality, save costs, boost efficiency, and encourage innovation. Supply chain optimization and company success can be achieved by putting in place a strong supplier appraisal procedure. Implement a comprehensive appraisal process to evaluate and improve your suppliers performance. Nkole Sampa | nkolesampa.ns@gmail.com #procurement #services #consulting #suppliers #appraisal #supplychain

#VendorManagement Managing Vendor/Supplier has to be effectived for getting best result and reduce risk, for sustainibility and longterm relationship. #VendorManagement is a part of procurement activity in SupplyChain #ManagingVendor is an end to end process from assessment up to evaluations, include selections. We learn together lessons on - How to identify good supplier qualification - How to do right & effective supplier selection - Undertand detail, how to evaluate supliers - How to categorize your vendor/supplier, ....since.... "The Point Of Supplier Segmentation is to manage different Supplier Differently" ....and..... "Supplier Assessment - Is The first steps for effective sourcing",,,, #FuadQuote #VendorManagement #SRZconsultrain #fuadharhara

Being a part of supply chain function, negotiation becomes an essential trait and needs to be conducted in a diligent ethical manner to attain maximum cost optimisation. As part of this activity, I used to interact with vendors on daily basis who can be categorized into three types, [1] The ones who accept customer's target price for sake of business nomination. [2] The ones who do not accept any negotiation leveraging their single source strategy. [3] The ones who negotiate with customers for mutual benefit. I feel all three shall get business opportunities. But the key difference is both 1st and 2nd type vendors may just survive for short run and do not sustain over long run when compared to 3rd category. First category vendors may see failure due to pressures in profitability and second category might become irrelevant when a competitor comes in. While third category vendors shall, ✅️Consider customer expectations ✅️Rework their costing without hitting their margins. ✅️Revert to customers with due justification. To summarise, if you want to make a serious long term business relationship with customers, then take some pain in analysing above points to maintain best tradeoff between new business nominations and profitability. #learnings #supplychain #vendormanagement

Sales tip: Make the purchasing manager at your customer your friend. Many salespeople (usually mediocre ones) try to keep the purchasing manager (or procurement, sourcing or category manager) from “messing up” their sales case - sometimes by avoiding or even bypassing the purchasing manager. Big mistake. Watch the video for inspiration. #valuesales #salessuccess #b2bsales #salesmanagement #purchasingmanager #makepurchasingmanageryourfriend #valuesalesacademy #salesacademy

Chatted with a buyer working for a manufacturer. I asked her to share two of her top reasons why collabing with her suppliers benefits her company. What she shared: Benefit #1 - Cost Reduction. True supply chain collaboration makes it possible to identify opportunities to reduce costs across the supply chain. By sharing insights on cost drivers, production processes, and efficiency improvements, buyers and suppliers can jointly identify areas where costs can be trimmed without compromising quality. This involves streamlining processes, optimizing transportation, and/or finding alternative materials that offer cost savings. Benefit #2 - Supplier Development. Buyers can work closely with suppliers to help them improve their capabilities, quality standards, and operational efficiency. This can result in long-term benefits for both parties as suppliers become more reliable and competitive, contributing to the success of the buyer’s business. And there you have it. More reason for your supply chain team to prioritize supplier collaboration.

I'm often asked what makes me successful as a purchaser and my answer is always the same: my "secret recipe" is working together with the sales department to understand customer needs and a strong supplier relationship management to ensure I am a preferred client to them. This article confirms that this approach is a must-have for future success.

Quote of the Day ✅ Procurement involves strategically sourcing, negotiating, and managing suppliers for optimal outcomes, focusing on efficiency, sustainability, and innovation. Embracing innovation in procurement leads to competitive advantages, increased market share, and enhanced customer satisfaction. Strategic thinking, collaboration, and dedication to excellence are essential for success and growth in procurement.

I've learned that becoming a respected procurement pro and/or sales leader requires lots of skills, but in my opinion, the most important one is... Your ability to build trust. When you gain trust with suppliers or customers, it means more openness, stronger connections, and better results. And when you earn trust with stakeholders, it means you'll engage with them sooner and more often, gaining their appreciation. It all starts with listening carefully. Your aim? Understand their needs. The result? Creating value.