02:13
Faizan
Having a strategic procurement framework that is easy to understand and implement is beneficial for the supplier as well as the buyer. For the supplier, it increases sales and for the buyer, timely and cost-effective purchases mean a smooth flow of operations and product or service offerings. If both sides benefit, a firm and hopefully, lasting relationship can result. Needless to say, it is good for business. However, to ensure that these benefits are realized, both parties must do their share to maintain this relationship. Processes within the supply chain must be adhered to by both parties so that a relationship of trust can flourish.
Both parties must understand that the medical device industry exists not primarily for the profits made by manufacturers, suppliers and retailers, but for every individual. Therefore, it is a business imperative to educate these manufacturers, suppliers and retailers about the products that eventually land in the hands of consumers. Since retailers or buyers are more familiar with the needs and demands of consumers, they can ask suppliers and manufacturers to come up with durable, versatile and dependable products, perhaps at competitive costs. This enables an interchange of ideas that brings out innovation and creativity that benefits everyone.
A strategic procurement framework allows the organisation to monitor and audit its existing procurement policies as well as the compliance standards set by the organisation. Before selecting a supplier, one of the requirements that a procurement team demands from a supplier is proof that the latter can comply with the standards set by the buyer. Otherwise, if the buyer still chooses the supplier and offers products of a sub-standard quality, it can damage the reputation of the buyer. If there are procurement policies and practices which are not in alignment with the organisation's objectives, reforms can be implemented.
Both parties must understand that the medical device industry exists not primarily for the profits made by manufacturers, suppliers and retailers, but for every individual. Therefore, it is a business imperative to educate these manufacturers, suppliers and retailers about the products that eventually land in the hands of consumers. Since retailers or buyers are more familiar with the needs and demands of consumers, they can ask suppliers and manufacturers to come up with durable, versatile and dependable products, perhaps at competitive costs. This enables an interchange of ideas that brings out innovation and creativity that benefits everyone.
A strategic procurement framework allows the organisation to monitor and audit its existing procurement policies as well as the compliance standards set by the organisation. Before selecting a supplier, one of the requirements that a procurement team demands from a supplier is proof that the latter can comply with the standards set by the buyer. Otherwise, if the buyer still chooses the supplier and offers products of a sub-standard quality, it can damage the reputation of the buyer. If there are procurement policies and practices which are not in alignment with the organisation's objectives, reforms can be implemented.
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