Posts in Uncategorized

Resilient Supply Chain

July 28th, 2020 Posted by Uncategorized 0 thoughts on “Resilient Supply Chain”

https://www.gartner.com/smarterwithgartner/6-strategies-for-a-more-resilient-supply-chain/

Sourcing Strategy post Covid-19

July 27th, 2020 Posted by Uncategorized 0 thoughts on “Sourcing Strategy post Covid-19”

https://blog.antwerpmanagementschool.be/en/sourcing-strategy-in-the-post-covid-19-supply-chain

4 ways engineering could change after Covid-19

July 24th, 2020 Posted by Uncategorized 0 thoughts on “4 ways engineering could change after Covid-19”
Photo: Harry Parvin

https://www.imeche.org/news/news-article/4-ways-engineering-could-change-after-the-covid-19-pandemic

July 22nd, 2020 Posted by Uncategorized 0 thoughts on “”

https://www.sdcexec.com/sourcing-procurement/article/21138130/can-procurement-transform-the-way-to-postcovid19-recovery

HIRING STRATEGIES: HOW AND WHY BUSINESSES MUST CREATE FAIL-SAFE STRATEGIES DURING A RECESSION

April 16th, 2020 Posted by Human Resources, Recruiting Strategies, Uncategorized 0 thoughts on “HIRING STRATEGIES: HOW AND WHY BUSINESSES MUST CREATE FAIL-SAFE STRATEGIES DURING A RECESSION”

With reports indicating that we are heading toward a global recession, you are right to be putting in place a plan of action for the future of your business. One important thing that you might not have considered: have you thought about how your hiring strategy might look in the coming years?

Taking on new talent and speaking to recruitment agencies can be the last things on your mind during times like these, but it shouldn’t be. A recession, as challenging as it is, provides an opportunity to tighten your practices and set new goals. It means a mindset shift that is more than just changing working habits. When forced to look at your entire business in a new light, you will surely realize areas of weakness within your teams; hiring new staff is very often vital for rejuvenating and strengthening them. Sometimes it’s better to cut costs on IT or crunch down on miscellaneous spending to ensure that you hire that person that’s going to lead your business to returned prosperity.

This is why a great recruitment strategy is crucial and, with that said, here is a list of the 5 tips that help you attract and retain the best talent during a recession.

  1. Hone your hiring process. Having decided where you need to hire, you can cut the time costs involved in this process by really pinpointing your needs. Where are the weak spots in your team? Which roles are most fundamental to ensuring your business’ success over the next 5 years? Are there roles that could actually be filled by contractors?
  2. Use the best methods to find the highest tier of candidate. With a surge in unemployment, there will, of course, be an excess of candidates. Considering your recruitment methods wisely minimises taking a risk on a candidate and saves you money in the long run. Though no one likes to pay agency fees to a recruiter, it is very often necessary to ensure that you get access the top talent quickly and that the entire process is well managed. This leaves you time to focus on other areas of your business.
  3. Don’t be tempted to recruit the wrong candidates just to make quick fixes. Over-qualified candidates will get up to speed quickly but get bored just as fast and there is just no need to employ under-qualified candidates if you use your hiring budget wisely. Making use of a recruitment agency will also help in this area. By being provided with the right candidate who adds value, you are saving money in the long term and ensuring that your business continues to grow. If you can afford to cut extra costs elsewhere, it can even be a good idea to over hire during a recession because, in securing this talent when it is available, you can work on your retention strategy throughout an upturn in business.
  4. There is no more crucial time than a recession to ensure that your marketing and “employer branding” are working well for you. Presenting your business as a great place to work through social media and your website is key to attracting the talent your business needs. You should aim to update it with consistency and to emphasize your business’ long-term security. Employees will be looking for somewhere stable where they can continue with their career growth.
  5. Finally, be honest internally as well as to recruiters or job sites about the roles you need filling. It is crucial that you are not misleading candidates, feeling let down by a job description is a significant factor in candidates leaving a position. Take the time to analyse your recruitment data. If employee retention is poor, it might be time to address the root causes.

An economic downturn doesn’t have to have devastating consequences for your business. It goes without saying that planning is crucial in order to avoid lost revenue and having an effective recruitment strategy is equally important.

The Easiest Way to Improve Acquisition & Retention

June 6th, 2019 Posted by Uncategorized 0 thoughts on “The Easiest Way to Improve Acquisition & Retention”

With more competing opportunities than ever before, employers are looking for ways to develop a healthy pipeline of talent as well as retain the competent employees they already have.

Introducing the One Question Survey

April 11th, 2019 Posted by Uncategorized 0 thoughts on “Introducing the One Question Survey”

Greetings, Earthlings! I’m excited to announce that Purple Tree Recruiting is launching our brand-spanking-new One Question Survey for HR Professionals. The OQS is a quick, painless survey that we created to quickly gather feedback from our friends in Human Resources.

Why One Question?

Because you’re busy! Far and away, the number one complaint we hear from HR professionals is that you’re overworked. That’s why in our quest to learn as much as we can about HR teams we decided to keep it simple and most of all quick. It takes less than 30 seconds to answer the OQS, making it the easiest thing you’ll do today.

What Do We Do With Your Answers?

Every week we’ll make the results of the OQS available to everyone. Whether you’re curious about what your peers think, or are looking for data on HR for your own purposes, the OQS results are insightful and informative.

We Never Share Your Data

Purple Tree has a strict privacy policy and we never share your data with third-parties. You can answer the survey anonymously or include your email to receive the results in your inbox. Either way, your answers will be safely anonymized in our database.

Use this link to take the most recent survey!

How Smart Companies Use Data To Improve Recruiting

March 29th, 2019 Posted by Uncategorized 0 thoughts on “How Smart Companies Use Data To Improve Recruiting”

Big Data is on the lips of every consultant from Silicon Valley to Dubai and it seems like these days everyone has a new tool or platform that claims to use data to drive profits and efficiency. The reality on the ground is entirely different however, as we encounter executives everyday who struggle to integrate data into their decision-making or worse, pull the wrong conclusions from the data that is available.

A Blueprint for Value-Based Supplier Relationship Management

March 19th, 2019 Posted by Uncategorized 0 thoughts on “A Blueprint for Value-Based Supplier Relationship Management”

With a greater portion of products and services resting in the hands of third-party suppliers, the race is on to solidify consistent, long-term supplier partnerships. But just because the fundamental nature of the buyer-supplier relationship is changing doesn’t mean suppliers have the upper hand.

The power of reciprocity is more important than ever, in fact, as the harmonization of the buyer and supplier relationship becomes more and more vital to ensure intelligent, scalable, and sustainable growth.

In this day and age, the success of any buyer-supplier partnership is not only contingent upon a mutual understanding that there’s more than one business opportunity out there. It also rests on the establishment of a mutually beneficial, performance-oriented agreement.

This increasing need to curate and sustain value to remain competitive today has redefined the significant and overall concept of supplier relationship management from the ground-up.

Old-School” Supplier Relationship Management

The traditional objective of supplier relationship management (SRM) has been to ensure contract compliance and mitigate risk through the proper management of third-party suppliers. But conventional SRM is short-sided in that it’s essentially focused on the exchange of monetary value for a product or service.

Instead of investing in a transparent and ongoing relationship that generates value for both parties, traditional SRM is heavily geared towards managing the final step in the traditional procurement process and ensuring previously agreed upon terms are met.

80% of survey respondents in a recent American Productivity & Quality Center (APQC)study claimed that SRM implementation has improved supplier reliability and reduced risk. But considering how critical suppliers are in delivering products and services today, viewing third-party suppliers as a potential liability and source of risk can be a huge business mistake today.

This rigid approach to SRM can potentially hinder the level of innovation and value that can come out of a more constructive, valuable, and sustainable buyer-supplier partnership. Instead, determining the most valuable suppliers and establishing a reciprocal supplier relationship based on transparency, innovation, and continuous two-way prosperity is critical to retaining a competitive advantage.

New-School” Supplier Relationship Management

There are a ton of potential suppliers out there and even more procurement departments competing for supplier attention, best pricing, and priority insight into future product launches and how to stay ahead of the pack.

Considering suppliers play such a huge role in the production and delivery of products and services, securing the right suppliers and moving towards a more strategic supplier relationship that is sustainable and mutually beneficial for both the party’s bottom line is more important than ever. So how can you achieve a value-oriented supplier relationship?

We’ve outlined three action plans designed to foster a more constructive and sustainable supplier relationship. We like to call this the “new-school” concept of SRM.

  1. Identify the most valuable suppliers.
  2. Establish reciprocal performance-based contracts.
  3. Use technology for real-time insight, collaboration, and transparency.

Determining the most valuable suppliers

There are two predominant concepts that can be used to identify your most valuable suppliers, the second being the most relevant given the changing nature of supplier relationship management:

  1. Comparative advantage
  2. Supplier performance management

Comparative advantage is an economic strategy used by global supply chains and companies that may ideate locally but produce and manufacture products abroad. In essence, the principle of comparative advantage is based on the mindset that countries should manufacture the products that best minimize total operational costs and import everything else. But the comparative advantage concept has noteworthy pitfalls.

Quality standards, compliance standards, and consumer expectations, for example, differ from country to country, market to market. Products that are able to meet all of these criteria are often more expensive. And with thecurrent trade and tariff environment, establishing tariff-proof supplier relationships along with competitive (and consistent) import prices brings with it another web of challenges.

Supplier performance management (SPM), on the other hand, is an effective up-and-coming, end-to-end solution to determine your most valuable suppliers. The best practices in SPM can also be used by bothlocalized supply chains and global operations.

Supplier performance management focuses on evaluating suppliers based on delivery fulfillment, product and/or service quality, lifecycle costs, trustworthiness, integrity, and various other applicable criteria. Because supplier performance is extremely volatile at times, SPM is a comprehensive and continual process that’s often integrated into real-time SRM software, which we’ll discuss in a minute.

2. Establishing performance-based contracts

Predetermining mutually beneficial goals and contractual terms for every point in the supply chain is key to any sustainable supplier relationship.

TheInstitute for Supply Management has pinpointed 145 different types of relationships between buyers and third-party suppliers. Out of these established buyer-supper relationship links, the following are known to breed the most collaborative and reciprocal arrangements:

  1. Opportunity sourcing: continuously surveying the supply market for new opportunities without any specific requirement or sourcing needs.
  2. Innovation and top-line, revenue-driven relationships: identifying what’s on the market and evaluating the marketing and identifying innovation opportunities and/or new applications
  3. Joint ventures: Establishing and nurturing a deeply-rooted, integrated, and highly defined buyer-supplier partnership yielding strong joint benefits stretching far beyond just monetary value.

3. Using technology to build transparency

Constructive buyer-supplier relationships depend on trust, transparency, and reciprocity. Having the right technology in place can streamline the process of meeting these needs by:

  • automating and streamlining tasks
  • providing real-time insight, collaboration, and methods of open communication
  • Facilitating natural rapport and supplier engagement
  • reducing lifecycle costs and time allocated to individual tasks
  • enhancing accuracy and reducing human error
  • allowing more time to solve complex problems, meet mutually defined KPIs, and explore new supplier relationship management initiatives

Integrated and real-time supply chain management and supplier relationship management software are on the rise to solve problems stemming from a lack of resources and clearly outlined procedures allocated to SRM.

Modern SRM software continues to rise to such challenges by embedding supplier segmentation, SRM, SPM, and supplier development into the design of comprehensive SRM software features such as demand forecasting and planning, sales and operations planning, procurement fulfillment, logistics, and supply chain visibility.

Navigating the Emerging Performance-Based Supplier relationship

Given the integral role that suppliers play in product and service fulfillment and delivery today, supplier relationship management is rapidly evolving. Establishing value- and performance-based contracts defined by mutually beneficial goals and KPIs is indispensable for cultivating and nurturing consistent, long-term buyer-seller partnerships.

What’s your game plan to navigate the emerging value-based supplier relationship to not just stay afloat, but thrive in the long haul?

The 4 Supply Chain Trends Taking the Industry to New Heights

February 28th, 2019 Posted by Uncategorized 0 thoughts on “The 4 Supply Chain Trends Taking the Industry to New Heights”

Smart technologies are continuing to solve inefficiencies in the supply chain, customer expectations are becoming increasingly stringent, and the future of global trade in flux.

Follow Us

   

© Copyright Purple Tree Recruiting 2017