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Smith’s Supplier-Consolidation Services Can Help You Streamline Your Procurement

Especially during times of shortages and other disruptions, managing your supplier base can be challenging. Smith offers options to optimize the process. 

Adaptability has been the name of the game in the disrupted supply chain of the last eighteen-plus months. While we’ve seen innovation and ingenuity arise from difficulties, we’ve also seen companies across industries being pressed into rushed or unsustainable setups to keep their supply chains and production moving.

One symptom of this – which was a challenge even before the pandemic and its ongoing disruptions – is being saddled with a sprawling and inefficient supplier base. When parts are difficult to find within the global component market, it can lead to building supplier relationships out of necessity rather than building ones that will effectively support your business. Navigating this volatile space can also stretch your purchasing department thin and drive up acquisition costs, making it burdensome to simply get the parts your company needs.

Smith’s supplier-consolidation services offer a solution to streamline your procurement efforts. By working with you to consolidate similar or overlapping suppliers and eliminate low-volume suppliers, we’ll help you tighten your supply chain and build a lean, solid supplier base thoroughly optimized to your business’s needs.

The key to this service lies in reducing the number of suppliers needed for noncritical or one-off purchases. We can help you improve your global supply chain by centralizing both your supplier approval process and noncritical purchases through Smith. Smith can give you access to hundreds of new suppliers to support these noncritical purchases, with qualified suppliers of your choice or through our global supplier network. And this service comes with the backing of our certified quality program, alleviating your purchasing pressures without compromising product integrity or availability.

Our global team of trading experts will help increase your procurement speed and flexibility in multifaceted ways, from reducing the time sink of setting up new suppliers to assigning a dedicated buyer or team of buyers to manage your purchases and reduce strain on your procurement staff. We also offer options for onsite support at your facility, in which Smith will act as an extension of your existing purchasing team.

Partnering with Smith for systematic supplier consolidation offers more than just augmented efficiency and support in your buying process; it can also help you lower your total cost of acquisition. By reducing your number of suppliers, you can reduce your transactional costs and see significant savings.

From reducing time spent in setting up and managing suppliers to lowering the associated costs, our supplier-consolidation services offer a dynamic solution to streamline and optimize a bloated supplier base into a lean, singular partnership that will comprehensively meet your needs.

Keep an eye out here on our blog and our LinkedIn page for more industry news, analysis, and insights.

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