What is the supply base management process

Supply base management is a complete 360 degree approach to manage the supplier base of an enterprise. It involves the addition of new suppliers, rehabilitating dysfunctional suppliers and removing disqualified suppliers from the supplier’s list. Suppliers are then further classified into specific groups.

Priceless Treasure & Resources: : Hay Think Premium Supplier Base

Hay Think`s Premium Supplier Pool has more than one million premium supplier data, and the supplier base derive from the supplier base of fortune global 500 companies which systematically assessed, selected, approved and certified by the China Sourcing teams of these companies.

Supplier-Driven Innovation

Supplier early involvement in design and engineering innovation is the largest and most effective cost reduction and value added contribution activity

With procurement increasingly contributing value beyond cost, the function is serving to link innovation-focused suppliers with the business in general. The earlier suppliers can be brought into the product and service development process, the more quickly new offerings can be launched. A relentless focus on execution and the establishment of long-term relationships to get the best possible supplier innovations are vital.

Exploiting the supply base’s innovation capability through a systematic innovation management process helps create products and services with shorter time to market, lower execution risk, higher quality, and ultimately, more profitable commercialization. Finding which suppliers to involve requires a formal, wide-ranging scanning process. Open-mindedness is also essential; companies have enjoyed significant successes by partnering with nontraditional suppliers, often from noncompeting industries, that bring new “outside-the-box” ideas. Increasingly, companies are heavily weighing innovation capability in their supplier evaluation process.

While suppliers are not the sole source of external innovation, they are consistently cited as essential contributors to idea generation, product and process development, and implementation and launch. Sources such as customers, academics, and market research are more typically involved in ideation activities.

Supply Market Intelligence

Hay Think understands the importance of having the right market intelligence

at the right time! — for sourcing-related decision-making. Access to timely, accurate and actionable supply chain intelligence is a huge strategic advantage. Not having it exposes firms to sizeable sourcing-related risk.

Hay Think`s category-based supply market intelligence (SMI) team comprises 50 plus experts. It supports CPOs and procurement professionals from market-leading enterprises worldwide, and Hay Thin`s own procurement consultants, through custom-configured procurement research deliverables and engagement models.

Procurement-Focused Market Intelligence Offerings

Procurement professionals can make confident, informed decisions when insights are tailored to their industry/geography/scale. Our procurement market intelligence reports give you real-time insights, and your team gets a decisive competitive edge when confronting big questions and problems, such as:

Supplier Intelligence:Am I working with the right suppliers?What levers can I use to negotiate a better deal with my incumbent suppliers?

Pricing Intelligence: Am I paying the optimal price?

Sourcing Intelligence: Do best-in-class companies adopt a different engagement model?

Procurement Intelligence: What benchmarks can I include as part of the contractual terms?

Competitive Market Intelligence: How are my peers sourcing? What are they doing differently?

We also know there are times when you need a quick overview of a spend category, along with a quick snapshot of the supply market analysis. Hay Think SMI team is ready to fulfill these requests with off-the-shelf procurement reports (category dossiers) on numerous mainstream categories. 

Procurement market intelligence offerings

Syndicated Research

Hay Think`s market intelligence (MI) team offers category intelligence on several hand-picked topics that represent critical concerns for clients across the spectrum. Our off-the-shelf procurement research reports (category dossiers) are spread across key categories. They contain key market insights and serve as best-in-class sourcing guides for category managers from client sourcing teams.

These research reports are updated frequently and provide cutting-edge actionable insights that clients can leverage during category strategy formulation.

Custom Advisory

Our custom supply chain research is tailored to client-specific needs, and research output is based on factors such as client industry, scale of operations and region in scope. Research requirements incorporate each individual client`s current positioning and sourcing plan.

Premium Supplier Base Data Base

Support of engineering department and business units by providing external information and potential innovative partners for needed new technologies to reduce cost and create value.

Get the resource ready for new product development, forecasting of crucial upcoming technology demands to prepare supplier and sourcing.