Supplier Experience Management (SXM)
Why focusing on supplier experience is a win-win for all
Watch the IntroductionBecome Customer of Choice With Supplier Experience Management
Success for any organization is now either achieved through acting in step with its suppliers, or it doesn’t exist. The last decade has seen a fundamental and permanent shift in supply chain relationships and the supplier experience. The leading organizations recognize the value of suppliers and that their future growth relies on the strength of their supplier base.
These companies see that:
- Success isn’t a zero-sum game; for a business to win, doesn’t mean its suppliers have to lose.
- Suppliers are not a commodity. The best partners, working together at their best, are at a serious competitive advantage.
- Every supplier is different; a unique experience is required to make each supplier relationship flourish.
- This needs to be recognized as a priority by management throughout the whole organization as their end customers will be impacted by poor supplier experiences, creating a negative perception of the organization.
- There needs to be a holistic view of the supplier experience when developing supplier relations operationally and strategically.
Supplier Experience Management combines this supplier-centric philosophy with the right technology to enable every supplier to do their best work for you and achieve mutually beneficial success.
99%
of companies have more than two supplier facing systems that their suppliers interact with
67%
of organizations say they need to improve time to resolve enquiries from suppliers
64%
of organizations say that better interdepartmental communications are needed for supplier-related matters
82%
say ‘regional and local requirements’ is one of the top 5 biggest obstacles to improving supplier experience
Supplier Experience Management: Why Is It More Important Than Ever?
Making the case for Supplier Experience Management
In the first of a three-part series ‘Putting the Supplier Experience at the Forefront of Strategic Procurement,’ we focus on how to make the business case for Supplier Experience Management (SXM).
Supplier Experience Management in Practice
In Part 2 we are joined by Costas Xyloyiannis, CEO, HICX and Adam Brown, Head of the Digital Garage at BT Sourced. We explore SXM in practice through a combination of looking at what’s happening today and how Procurement can focus to be ready for tomorrow.
What are the benefits of SXM?
In the final part of the series, we look at supplier centricity and the ROI of SXM. For this discussion, we are joined by Mary Beth Lang, Chief Supply Chain and Procurement Officer at Kaiser Permanente; and Robert Bonnar, Global Procurement Director, at SHV Energy.
Removing the Friction From the Supplier Experience
Too often, large organizations create far too much friction in the relationships with almost all their suppliers. While it’s usually unintentional, this creates pain and additional costs for those suppliers, which in turn has a knock-on effect on the manufacturers themselves and their growth.
We’re talking about the number of different systems suppliers have to log in to, and about the number of data requests – often duplicated, often pointless, and usually with little in the way of instruction – which leaves the supplier to figure out whether the latest request applies to them.
And we’re talking about evermore ‘initiatives’ being passed down from customer to supplier, whether compliance-driven, or relating to any number of new directives on innovation, sustainability, diversity, and more. The burden of these new initiatives falls disproportionately on suppliers as they have to investigate, document, and certify each time.
Focus on Innovation with Supplier Experience Management
Supplier Experience Management means removing these friction points. This frees up the suppliers’ time to focus on more value-added activities such as product innovation. It reduces supplier costs to serve you, which in turn, supports more favorable pricing, and it puts you in pole position to be the customer of choice for every supplier.
It also ensures that organizations benefit from higher levels of quality, shorter response and delivery times, greater levels of sustainability and optimal delivery performance.
Dr. Elouise Epstein – Kearney – Supplier Experience
Watch the inspiring Dr. Elouise Epstein’s presentation at the inaugural Supplier Experience Community session where she talks passionately about the importance of Supplier Experience and what is wrong with the way we are engaging with our suppliers today.
Read our exclusive ‘Supplier Experience Survey’ and learn:
- The difference in perception and reality of supplier experience
- Enterprise top priorities post-COVID
- How communication is key to the next stage of supplier experience management
- Obstacles to supplier experience management (SXM) and how to overcome them
- The Supplier Experience Maturity model and how it can help plan for the future
Elevating Supplier Experience: How Supplier Experience Adds Value
Amy Fong, VP, Everest Group, and Costas Xyloyiannis, CEO, HICX, discuss the major advantages of putting supplier experience at the forefront of activities.
Read our practical guide ‘Preparing for Supplier Experience Management’ and learn:
- Requirements for being ready for adopting the Supplier Experience Management (SXM) framework
- The mindset shift that needs to take place
- The benefits and ROI for everyone involved
Perfect Supplier Data
Underpinning both the supplier’s experience of working with you and your company’s ability to make the best possible decisions and operate most efficiently is supplier data.
Poor supplier data is the root cause of thousands of micro-inefficiencies that plague large manufacturers, requiring staff to check and double-check supplier information and unravel issues caused by duplicates or errors, and it undermines trust such that even good data is checked, just in case.
Supplier Experience Management has as its core, the understanding that data and supplier experience are intrinsically linked. Efforts to address the impact of bad data – through data cleansing and other such initiatives – are doomed to fail because they miss the fundamental point that what the supplier owns is the single source of truth for their individual data, and a poor experience discourages and prevents them from providing this to you.
A 1:1 Supplier Experience
By borrowing from their colleagues on marketing, procurement and supply chain teams can use technology to deliver an experience tailored to each individual supplier:
- To give them access to all the information they need to supply you
- Reduce the noise and give them only the information they need
- Provide access to all the necessary systems through a single, personalized supplier experience management software portal which is configured to the specific needs of every individual supplier
- Maintain a complete and accurate data profile for every supplier, which is managed by the supplier themselves, and used by every system in your business, reducing errors for you and re-work for them
“At the core of SXM, actually, is a data topic which is the true benefit for large organisations embarking on it, is to solve the massive data challenge which they have today. At the end of the day, without data, you cannot be efficient. The experiences today are fully digital. The philosophy here is that better experiences create better data, better data creates better experiences.”
Costas Xyloyiannis, CEO of HICX
Supplier Experience Insights & Opinion
Why Is Supplier Experience Now Such a Key Priority?
The era of Supplier Experience is here Accelerated by recent global events and propelled by today’s need to fundamentally change the way in which organizations interact with their suppliers, there is a realization in the industry that the enterprise-supplier relationship cannot be treated as a zero-sum game. Suppliers as an extension of the organization Instead, […]
Supplier Experience Management (SXM)Suppliers’ Perspective Watch nowThe Supplier Experience and Data Quality Flywheel
Various market factors in the last couple of years, such as supply chain disruptions, cyber security breaches and increasing geopolitical instability have made organizations aware of the importance of good data. Lack of transparency and inadequate processes exacerbate these issues. In a webinar on Putting the Supplier Experience at the Forefront of Strategic Procurement, Charlotte […]
Data QualitySupplier Experience Management (SXM) Read nowAdopting a Supplier Centric Approach
Driven by events at the beginning of the decade, Procurement’s mandate has continued to expand rapidly, as the shift from cost savings to value creation and collaboration gathers pace. Establishing true partnerships has brought the subjects of supplier centricity and customer-of-choice sharply into focus. Being supplier centric means not treating suppliers as a commodity but […]
Supplier Experience Management (SXM)Supplier Relationship Management Read nowWhat Is Supplier Experience Management (SXM) and Why Is It Important?
For far too long organizations have focused their efforts solely on cost savings and the transactional value they can squeeze out of their suppliers. This changed in 2020, as a result of a series of crises, and companies have instead shifted their focus on establishing true partnerships and driving value for all stakeholders through increased […]
Supplier Experience Management (SXM)Supplier Relationship Management Read nowThe Impact of Supplier Experience Management on ESG Initiatives
Starting its life as a corporate social responsibility initiative introduced by the UN, the Environmental, Social and Governance (ESG) movement has had a significant impact on investment trends over the past twenty years, with sustainable investments totalling more than $35 trillion according to the Global Sustainable Investment Alliance.1 As part of a framework for delivering […]
Supplier DiversitySupplier Experience Management (SXM) Read nowInfographic: Supplier Experience Survey
This infographic provides a quick summary of the key findings from our recent Supplier Experience Survey report. Every supplier is different, so it makes sense to provide the unique experience required to make every relationship flourish. Whether direct or indirect, strategic or occasional, high risk or not, for each supplier to deliver their best, it […]
Supplier Experience Management (SXM) Read nowSupplier Experience Working Group launched as supplier centricity takes center stage
HICX has launched a Supplier Experience Community Working Group with an inaugural virtual event. This first event saw the coming together of around twenty leading Procurement and Digitalization practitioners, from some of the world’s largest enterprises, to discuss supplier experience and supplier experience management (SXM). The Supplier Experience Community Working Group The Group, which meets […]
Supplier Experience Management (SXM)SXM Community Working Group Read now
How supplier experience management drives innovation
In the latest episode of ‘Dial P for Procurement,’ broadcast live on Tuesday 16 March, HICX CEO, Costas Xyloyiannis, joined co-hosts Kelly Barner (Buyers Meeting Point) and Scott Luton (Supply Chain Now), along with Quentin Roach, Senior Vice President, Supply Chain & Chief Procurement Officer at Mondelez International. They discussed changes in demand in the […]
Supplier Experience Management (SXM) Watch nowHow does Supplier Experience Management create a win-win for both customers and suppliers?
The last years have seen a fundamental and permanent shift in supply chain relationships and leading organizations recognize that their future growth relies on the strength of their supplier base. Supplier Experience Management (SXM) is the practice of creating the conditions in which a buying organization and all of its suppliers can achieve mutual success […]
Supplier Experience Management (SXM)Supplier Management Read now
The Mondelez journey to world-class digital procurement
A summary of the session at WPC 2020 with HICX and Mondelez on supplier experience management. Learn how Mondelez built a world-class digital procurement strategy.
Supplier Experience Management (SXM)Supplier Management Watch now
Elevating Supplier Experience: How Supplier Experience Adds Value
In this webinar on ‘Elevating Supplier Experience’, Tania Seary, Founder of Procurious, is joined by Costas Xyloyiannis, CEO at HICX and Amy Fong, VP at Everest Group to discuss the benefits of improving the way in which organizations work and engage with their suppliers. In today’s era when companies are relying more and more on their supplier community due to rapid […]
Supplier Experience Management (SXM) Watch now
Innovation in Digitalisation and Technology: Insights from the Ecosystem
During a three-day conference ‘Innovation in Digitalisation and Technology’, Costas Xyloyiannis, CEO at HICX, joined Steve Hall of Procurement Leaders for a session on ‘Insights from the ecosystem’, broadcast live on Thursday 27th May. They discussed Supplier Experience Management (SXM): how it is moving up the agenda and how, in combination with technology, it can generate greater value for customers and suppliers alike, as well as improve competitiveness. The rise and adoption of […]
Supplier Experience Management (SXM) Watch now
Putting the Supplier Experience at the Forefront of Strategic Procurement
SXM Webinar Series with Art of Procurement In the first of a three-part Art of Procurement Live Webinar Series ‘Putting the Supplier Experience at the Forefront of Strategic Procurement’ in partnership with HICX, we focus on how to make the business case for Supplier Experience Management (SXM). For the session, we were joined by Charlotte Anabelle de Brabandt, a representative of the Institute for Supply […]
Supplier Experience Management (SXM)Supplier Management Watch now
Supplier Experience Management in Practice
SXM Webinar Series with Art of Procurement This is the second webinar in a three-part Art of Procurement and HICX live series, hosted by Kelly Barner and all focused on the supplier experience. This webinar focuses on supplier experience management in practice, a combination of looking at what’s happening today and how Procurement can focus […]
Supplier Experience Management (SXM)Supplier Management Watch now
Supplier Centricity and Supplier Experience Management: What are the benefits?
SXM Webinar Series with Art of Procurement The third and final part of the Art of Procurement and HICX live series, hosted by Kelly Barner, focuses on supplier centricity and the benefits of Supplier Experience Management (SXM). Kelly is joined for this discussion by Mary Beth Lang, Chief Supply Chain and Procurement Officer at Kaiser […]
Supplier Experience Management (SXM)Supplier Management Watch nowHICX Named One of the 100 Pioneering Digital Solutions in Procurement
HICX is excited to announce that it has been named as one of the ProcureTech 100
News Coverage Read nowLenovo joins our growing list of Global 5000 customers embracing Supplier Experience Management (SXM)
Last week we announced an exciting new partnership with Lenovo, the technology leader best known for its extensive portfolio of information technology products for businesses and consumers. As well as improving its vendor accuracy, onboarding cycle time and compliance, the partnership will also help Lenovo to enrich the experience it offers to its vendor base. […]
Supplier Experience Management (SXM)Supplier Management Read now
How Data Drives Supplier Experience, Digitization and Transformation
Delivering Supplier Experience Management (SXM) through Best-of-Breed In the first of our series of webinars on Delivering Supplier Experience Management (SXM) through Best-of-Breed, panelists from Sievo, HICX, and BP discussed Best-of-Breed technologies and how data-led procurement solutions create value. In this second part, Charlotte de Brabandt, Global Procurement Expert, Author, Digital Enthusiast, and moderator of this session is joined by […]
Best of BreedSupplier Experience Management (SXM) Watch nowSupplier Relationship Management & Supplier Experience Management in Practice
The turbulent events of 2020 and 2021 brought the world to a virtual standstill and a realization of just how dependent organizations are on supply chains and their supplier communities. Companies reacted by shifting their focus towards collaboration, establishing true partnerships and driving value for all stakeholders, rather than simply thinking about cost savings. This […]
Supplier Experience Management (SXM)Supplier Relationship Management Read now
How Data-Led Procurement Solutions Create Value
Delivering Supplier Experience Management (SXM) through Best-of-Breed In the first of our series of webinars on Delivering Supplier Experience Management (SXM) through Best-of-Breed, our panellists discussed Best-of-Breed technologies and how data driven procurement solutions create value. Robert Bonnar, Senior Global Procurement Director at BP and moderator for this session, was joined by Sammeli Sammalkorpi, Co-Founder and CEO of Sievo, a company focused […]
Best of BreedData Governance Watch nowAn Exciting Time for Procurement
Anyone who works in Procurement and Supply Chain will be aware of the level of change industries have been through in the past few years. The procurement function is no longer merely tactical but is becoming increasingly strategic. Technological advancements are continuously improving, data issues are still not resolved, and the turbulent events at the […]
Procurement ExcellenceSupply Chain Read nowThe Third Supplier Experience Community: Exploring how to achieve more agility, less friction
The third Supplier Experience Community event recently took place, this time welcoming around thirty executive attendees, from some of the leading global brands. Supplier Experience Community: Background The group meets under Chatham House rules in order to provide a forum in which to explore how to drive a ‘Supplier Experience mindset’ in organizations. It includes […]
Supplier Experience Management (SXM)SXM Community Working Group Read nowContact Sales To Discuss How Supplier Experience Management Can Work for Your Organization
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