The procurement strategy for cranes in the United States aims to balance cost-efficiency, reliability, and regulatory compliance. Initially, a market analysis is conducted, wherein key suppliers and trends are identified. This includes assessing supplier capabilities and investigating potential technological advancements. For example, understanding historical pricing and evaluating lead times help in negotiating better contract terms.
The next step is to select and qualify suppliers, setting criteria to ensure they meet operational needs. Actions like issuing a Request for Information (RFI) and conducting audits are vital. Supplier financial stability and past performance are evaluated to ensure consistency and quality in procurement.
Finally, the strategy underscores the implementation of procurement and contract management. Key milestones are scheduled, and contract terms are carefully drafted for compliance and clarity. Continuous monitoring of supplier performance through service-level agreements ensures that the company's operational standards are met. The inclusion of regular feedback and audits fosters ongoing improvement.
The strategies
⛳️ Strategy 1: Conduct a market analysis
- Identify key suppliers and manufacturers of cranes in the United States
- Analyse market trends and demand for cranes
- Assess the competitive landscape and supplier capabilities
- Investigate potential technological advancements in crane equipment
- Gather data on historic pricing trends
- Determine the impact of economic factors on the crane market
- Evaluate supplier lead times and logistics capabilities
- Research environmental and regulatory standards affecting crane procurement
- Identify any risks associated with political, economic or social factors
- Benchmark against previous procurement strategies and outcomes
⛳️ Strategy 2: Select and qualify suppliers
- Develop criteria for supplier selection based on requirements
- Create a comprehensive list of potential suppliers
- Issue a Request for Information (RFI) to gather details
- Evaluate supplier responses based on set criteria
- Conduct supplier audits and checks for compliance and standards
- Assess supplier financial stability and performance history
- Evaluate supplier customer service and support capabilities
- Check references and obtain feedback from other clients
- Shortlist qualified suppliers and schedule site visits
- Negotiate terms of contract including pricing and delivery timelines
⛳️ Strategy 3: Implement procurement and contract management
- Establish procurement timeline and schedule key milestones
- Develop contract documents outlining terms and conditions
- Ensure legal and regulatory compliance in contract terms
- Implement an approval process for contract sign-off
- Draft and execute purchase orders with selected suppliers
- Set up a process for tracking order progress and delivery
- Monitor supplier performance against agreed SLAs
- Negotiate any changes or amendments during contract period
- Implement a feedback loop for continual assessment
- Conduct regular reviews and audits of supplier performance
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
