Research shows that companies that focus on supplier collaboration and continuous improvement—inherent necessities in effective supplier performance management programs—have 5% lower supply chain costs and receive greater benefits than their counterparts with weak governance structures. Conversely, with no supplier performance management program in place, organizations risk losing up to 75% of the sourcing value from contracts within 18 months by neglecting supplier relationships. Can you afford that?
Most companies understand that supplier performance management is innately necessary…but with pressure to do more with less and a never-ending stream of new and changing regulations, many frankly don’t know where to start.
SIG University’s Certified Supplier Management Professional (CSMP) program helps companies put effective governance programs in place by exposing students to leading-edge training on contract administration, compliance, risk mitigation, performance, governance operating models, talent management support, transformation and more. In a 5-week course, SIG University’s CSMP curriculum is delivered through our unique education platform, which blends eLearning with the benefits of faculty and peer engagement.
Seven Reasons Every Organization Needs Effective Supplier Performance Management
1. Mitigate risks
Available for Buy-side and Sell-side Professionals
How do you define terms like supplier relationship management, value realization, supplier innovation, risk mitigation or contract compliance? If you and your team—or more telling, you and your suppliers are speaking a different language, how can you be working towards a common goal? The CSMP gives practitioners and the advisors who serve them a common communication platform.
At the end of this course, Certified Supplier Management Professionals should be able to:
- Comprehend the significance of Governance, Risk and Compliance
- Understand the various levels of supplier management governance, including corporate, business unit, and contract level activities
- Understand how to select the appropriate Governance program, and key components, for each relationship model.
- Relate how differences in strategy, values, and culture between the buying company and the supplier might impact the relationship
- Be able to define and give examples of each of the key components of an Operating Model
- Evaluate budgetary requirements for managing a Governance program
- Understand how to capture and activate innovative ideas through the Governance structure
- Describe the critical tools to use in implementing a Governance program