Profit-Focused Supplier Management: How to Identify Risks and Recognize Opportunities

Profit-Focused Supplier Management: How to Identify Risks and Recognize Opportunities

Profit-Focused Supplier Management: How to Identify Risks and Recognize Opportunities

Profit-Focused Supplier Management: How to Identify Risks and Recognize Opportunities

Synopsis

Managing suppliers can contribute enormous savings to a company's bottom line, and few companies have done it better than Nokia. In Profit-Focused Supplier Management, Pirkko Östring details for the first time the supplier management program that has helped make Nokia the world leader in mobile communications. Drawing from her experience at Nokia, Östring reveals how to understand and maximize relationships with suppliers to help any company minimize risk and improve profitability in any industry. Profit-Focused Supplier Management will motivate top management to uncover more information about their suppliers, enable purchasing managers to select better suppliers, and give business controllers a tool for limiting risks and improving their companies financial standing.

Profit-Focused Supplier Management is the first book written to address suppliers as ongoing business management opportunities. The book uses factual examples from companies including Intel and Marconi that provide an easy and interesting way to adopt the theoretical frameworks into practical formats. Additionally, fictional cases, based on the authors findings, illustrate the importance of in-depth analyses.

Excerpt

Tthis book can help you to find the most suitable suppliers for your company and to keep your business on a course of excellence. This book is also practical and suitable for nonfinancial people. the case studies of fictional business analyst Jill Turner describe realistic work situations that an analyst would encounter in the business world. By observing Jill’s methods, the reader can develop his or her own operating procedures.

Although Jill and the companies she visits are fictitious, the examples in Chapter 7 are taken from existing companies, such as SanminaSCI Corporation, Intel Corporation, and Marconi plc. the opinions of those companies are based on published materials, with the examples of possible conclusions drawn from that material.

Steering a business is like steering a boat. When analyzing your suppliers, you should evaluate how well the business has done and how well it will continue to do. the Pommern, an old sailing ship in Mariehamn, Åland, made me realize that the business world is like life at sea: On sunny days, any captain with a crew can steer the boat without any problems. But on stormy days, it takes a skilled captain with a good crew to navigate safely to the port—to their goal.

In the business world, all businesses more or less flourish in the up markets. It doesn’t take excellence in the company’s top management to keep the company afloat. During the down markets, only the best managers can keep their businesses alive.

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