AOP PodcastSupplier ManagementValue Beyond Savings

The Art and Science of Supplier Discovery, w/ Stephany Lapierre

By July 12, 2016 June 1st, 2020 2 Comments

Where do you go for supplier information if you are asked to lead a sourcing project for a product or service you are unfamiliar with?

Stephany Lapierre, my guest on today’s Art of Procurement show, is the expert in Supplier Discovery. First Stephany founded Matchbook, a consulting firm helping biotech firms identify and source hard to find suppliers to meet very specific needs. Following customer demand, she then built and launched tealbook, an online supplier knowledge management platform.

In today’s show, Stephany shares the 10 most effective ways in which to identify qualified suppliers for your next sourcing event or category strategy.

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“A recent study shows it takes up to six weeks to discover qualified suppliers. What is the cost of that, not just in hours, but also if you’re not having the information at your fingertips when you need it, when internal partners are coming to procurement for recommendations, and to initiate the process? Are they going to come back to you next time they have a need, or are they going to start the due diligence on their own?”

In this episode, you will learn:

  • What were Stephany’s motivations to set up Matchbook and tealbook, and how does she juggle entrepreneurship and family commitments.
  • Findings from a recent survey conducted by tealbook and ProcureCon to understand how organizations typically identifiy potential suppliers, and how long the supplier discovery process takes.
  • 10 key sources that Steph has found are the most optimal approaches to identifying qualified suppliers as efficiently as possible, particularly for niche or rarely sourced categories.

Episode Transcript (PDF):

  • Click here to download a copy of today’s episode transcript (PDF).

Links and Resources:

Thanks for Listening!