For a long time, procurement has been looking for supplier relationships in all the wrong places.
Traditional supplier discovery efforts tend to be focused on transactional data: who, what, and where. Not only does that strip procurement of most of the information they need to identify qualified suppliers, but it also does little to set either side up for successful relationship building over the long term.
On July 18th, Art of Procurement was joined by Tiffanie Stanard, Founder and CEO of Stimulus, to talk about how mid-market companies can improve their supplier discovery and supplier relationship efforts by taking a richer approach to information management.
She answered live questions about the importance of:
- Communicating to form connections,
- Making sure suppliers have the information they need to approach procurement at the right time for each opportunity, and
- How to streamline rather than speed up the supplier shortlisting process.