Keeping The Risk On Suppliers<\/h1><\/div><\/div><\/div>Have You Used These Techniques To Manage Risk?<\/h2><\/div><\/div><\/div>When contemplating the purchase of a new product or service or doing business with a new supplier, you face risk. Many bad things could happen, including:<\/p>\n
\n- The product or service could be of unacceptable quality<\/li>\n
- The supplier could fail to perform<\/li>\n
- The supplier may go out of business<\/li>\n<\/ul>\n
There are consequences if these things happen. Your organization could lose money. Your organization may fall behind on its schedule. Your reputation as an excellent purchaser could be tarnished.<\/p>\n
As an agent of your organization, you must take steps to protect your organization from this risk. While risk management is a topic that is way too extensive to comprehensively cover in a one-page article, here are a few tips for managing risk when dealing with a new product, service, or supplier:<\/p>\n
1. Get A Sample Before Making A Long-Term Commitment<\/b><\/h3>\n
If you’re buying a product, ask for a low- or no-cost returnable sample of the product so that your organization may assess its quality. If you’re buying a service, have the service performed on a one-time basis for the same reason. There is no better proof that a product or service will suit your needs.<\/p>\n
2. Ask For A Money-Back Guarantee<\/b><\/h4>\n
You shouldn’t lose money if you are not satisfied. Ask for a money-back guarantee. If the supplier declines, you’re probably best not doing business with that supplier. After all, why should you have the confidence in the supplier’s product or service when the supplier doesn’t? If the supplier offers the guarantee, the load on your shoulders is much lighter.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
Do You Want a More Rewarding Procurement Career?<\/h5><\/div>![](\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/12\/spsm_verify.jpg\" "\\"spsm_verify\\"")
<\/span><\/div>Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Well, guess what? Nothing will change unless you take action towards becoming a world-class procurement professional.<\/p>\n
Earning your SPSM Certification is the action to take if you want to bring the most modern procurement practices into your organization and achieve your career potential. Download the SPSM Certification Guide today to learn how to get started on your journey to a more rewarding procurement career!<\/p>\n<\/div>
Download<\/span><\/a><\/div><\/div><\/div>Need Better Performance From Your Procurement Team?<\/h5><\/div>![](\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/12\/services.jpg\" "\\"services\\"")
<\/span><\/div>Are you a procurement leader whose team isn\u2019t achieving the results you know are possible? Maybe it\u2019s not enough cost savings. Or frustrating performance from the supply base. Or dissatisfied internal customers.<\/p>\n
You need a performance improvement plan that\u2019s easy to implement and quick to produce results. The NLPA can help.<\/p>\n
Download our whitepaper \u201cThe Procurement Leader\u2019s Guide To A More Successful Team.\u201d You\u2019ll learn the 7 steps for transforming your staff into a results-producing, world-class procurement team.<\/p>\n<\/div>
Have You Used These Techniques To Manage Risk?<\/h2><\/div><\/div><\/div>When contemplating the purchase of a new product or service or doing business with a new supplier, you face risk. Many bad things could happen, including:<\/p>\n
\n- The product or service could be of unacceptable quality<\/li>\n
- The supplier could fail to perform<\/li>\n
- The supplier may go out of business<\/li>\n<\/ul>\n
There are consequences if these things happen. Your organization could lose money. Your organization may fall behind on its schedule. Your reputation as an excellent purchaser could be tarnished.<\/p>\n
As an agent of your organization, you must take steps to protect your organization from this risk. While risk management is a topic that is way too extensive to comprehensively cover in a one-page article, here are a few tips for managing risk when dealing with a new product, service, or supplier:<\/p>\n
1. Get A Sample Before Making A Long-Term Commitment<\/b><\/h3>\n
If you’re buying a product, ask for a low- or no-cost returnable sample of the product so that your organization may assess its quality. If you’re buying a service, have the service performed on a one-time basis for the same reason. There is no better proof that a product or service will suit your needs.<\/p>\n
2. Ask For A Money-Back Guarantee<\/b><\/h4>\n
You shouldn’t lose money if you are not satisfied. Ask for a money-back guarantee. If the supplier declines, you’re probably best not doing business with that supplier. After all, why should you have the confidence in the supplier’s product or service when the supplier doesn’t? If the supplier offers the guarantee, the load on your shoulders is much lighter.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
Do You Want a More Rewarding Procurement Career?<\/h5><\/div><\/span><\/div>Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Well, guess what? Nothing will change unless you take action towards becoming a world-class procurement professional.<\/p>\n
Earning your SPSM Certification is the action to take if you want to bring the most modern procurement practices into your organization and achieve your career potential. Download the SPSM Certification Guide today to learn how to get started on your journey to a more rewarding procurement career!<\/p>\n<\/div>
Download<\/span><\/a><\/div><\/div><\/div>Need Better Performance From Your Procurement Team?<\/h5><\/div><\/span><\/div>Are you a procurement leader whose team isn\u2019t achieving the results you know are possible? Maybe it\u2019s not enough cost savings. Or frustrating performance from the supply base. Or dissatisfied internal customers.<\/p>\n
You need a performance improvement plan that\u2019s easy to implement and quick to produce results. The NLPA can help.<\/p>\n
Download our whitepaper \u201cThe Procurement Leader\u2019s Guide To A More Successful Team.\u201d You\u2019ll learn the 7 steps for transforming your staff into a results-producing, world-class procurement team.<\/p>\n<\/div>
When contemplating the purchase of a new product or service or doing business with a new supplier, you face risk. Many bad things could happen, including:<\/p>\n
- \n
- The product or service could be of unacceptable quality<\/li>\n
- The supplier could fail to perform<\/li>\n
- The supplier may go out of business<\/li>\n<\/ul>\n
There are consequences if these things happen. Your organization could lose money. Your organization may fall behind on its schedule. Your reputation as an excellent purchaser could be tarnished.<\/p>\n
As an agent of your organization, you must take steps to protect your organization from this risk. While risk management is a topic that is way too extensive to comprehensively cover in a one-page article, here are a few tips for managing risk when dealing with a new product, service, or supplier:<\/p>\n
1. Get A Sample Before Making A Long-Term Commitment<\/b><\/h3>\n
If you’re buying a product, ask for a low- or no-cost returnable sample of the product so that your organization may assess its quality. If you’re buying a service, have the service performed on a one-time basis for the same reason. There is no better proof that a product or service will suit your needs.<\/p>\n
2. Ask For A Money-Back Guarantee<\/b><\/h4>\n
You shouldn’t lose money if you are not satisfied. Ask for a money-back guarantee. If the supplier declines, you’re probably best not doing business with that supplier. After all, why should you have the confidence in the supplier’s product or service when the supplier doesn’t? If the supplier offers the guarantee, the load on your shoulders is much lighter.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
Do You Want a More Rewarding Procurement Career?<\/h5><\/div>
<\/span><\/div>Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Well, guess what? Nothing will change unless you take action towards becoming a world-class procurement professional.<\/p>\n
Earning your SPSM Certification is the action to take if you want to bring the most modern procurement practices into your organization and achieve your career potential. Download the SPSM Certification Guide today to learn how to get started on your journey to a more rewarding procurement career!<\/p>\n<\/div>
Download<\/span><\/a><\/div><\/div><\/div>Need Better Performance From Your Procurement Team?<\/h5><\/div>
<\/span><\/div>Are you a procurement leader whose team isn\u2019t achieving the results you know are possible? Maybe it\u2019s not enough cost savings. Or frustrating performance from the supply base. Or dissatisfied internal customers.<\/p>\n
You need a performance improvement plan that\u2019s easy to implement and quick to produce results. The NLPA can help.<\/p>\n
Download our whitepaper \u201cThe Procurement Leader\u2019s Guide To A More Successful Team.\u201d You\u2019ll learn the 7 steps for transforming your staff into a results-producing, world-class procurement team.<\/p>\n<\/div>
![](\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/12\/services-contracting.jpg\" "\\"services-contracting\\"")
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