Purchasing is not an easy job, You, as a purchasing manager or purchasing professional might have a long list of rules and techniques but these five rights are also important for every purchasing professional.
Right Safety Practices – Your organization probably has high standards for ensuring employee safety. Therefore, you should ensure that your suppliers have equally high standards. Public blame for a safety lapse at a supplier’s facility is often placed as much on the customer as on the supplier.
Right Compliance – Just as a supplier safety violation can reflect poorly on your organization, so can a supplier violation of law, particularly if related to child or slave labor. Plus, your organization could be charged with violating a law as the result of illegal activity in your supply chain. Evaluate a supplier’s compliance during the sourcing process as well as throughout that supplier relationship.
Right Convenience – The accelerating pace of the business means that everyone is trying to do things so fast. Sometimes, the quality unacceptably suffers in the pursuit of speed. This requires you to ensure that the best thing for your internal customers to do is also their most convenient option. Therefore, it’s important to select suppliers that offer convenience in their ordering and other processes.
Right Agility – Business – and our world – constantly keep changing. As Procurement professionals like you, need to be agile in order to keep updated and take advantage of change. This means that you need suppliers who are at least equally agile and can adapt their products, services, and business conditions to change.
Right Country – A decade (LONG LONG time) ago, “low-cost country sourcing” was all the rage but, Today, global sourcing looks at more than just cost to determine if a country is the “right country” for finding suppliers. From the safety standards to liability to natural disasters to political stability/unstability, there are many things to evaluate when deciding on a country in which to source.
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