Why it’s time to adopt a supplier-centric approach

Supply Management

By Anthony Payne, CMO of HICX

64% of respondents in the recent Supplier Experience Survey by HICX cite communications as a top three area for improvement when it comes to doing business with suppliers.

This emphasises a persistent pain point; an imbalance between suppliers and enterprises that needs to change.

With the pandemic highlighting the need for robust supply chains, we’re seeing that enterprises that focus solely on cost savings at the expense of all else are left horribly exposed to risk. There’s no doubt that organisations need to rethink the way they work with suppliers, but as with all unchartered waters the prospect can seem daunting.

So where can enterprise leaders begin? The answer is to adopt a more supplier-centric approach, which we refer to as Supplier Experience Management (SXM). And at the heart of this is addressing fundamental obstacles like communication.

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