Unlocking and Sustaining Value Across the Supplier Lifecycle

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Chris: In procurement we talk a lot about quick wins. We talk a lot about buy better levers where we’re taking transactional value out. But what about the back end?

What about our spend better landscape where supply, relationship management and contract management are essential to growing innovation, creating resilience and delivering value in the long term?

Here are my top two considerations in those areas:

So often in procurement circles we focus very heavily on the buy better levers, those transactional quick wins. What about the other side on the spend betters? And what role do suppliers play in unlocking the value?

Suppliers are the lifeblood of any business. They fuel growth, they unlock innovation, they strengthen resilience. Whilst some relationships can be combative, recognizing the true value of long term strategic partnerships turns suppliers from transactional vendors to into essential partners that drive investment, innovation and sustainable success.

On the flip side, we see strong contract management really being the backbone of driving that business performance. It protects a lot of value, prevents leakage and creates a framework for really important aspects like trust and accountability. By managing those contract terms proactively, continue controlling creep and aligning contracts with strategy, organizations not only mitigate risk, but they unlock opportunities for innovation, resilience and long-term growth.