has anyone tried the kraljic matrix for better procurement?

[SupplyChainSavvy8]

Has anyone here leveraged the Kraljic Matrix for improving their procurement strategies? I've heard it can significantly enhance supply chain management by identifying the types of relationships needed with suppliers, based on risk and profit impact. How did it change the way you handle non-critical items or negotiate with strategic suppliers? I'm curious to learn from your experiences and see how it compares to other portfolio analysis tools. Would love to hear your stories or insights on this!

[ProcurementForumAdmin]

The Kraljic Matrix is a powerful tool that has reshaped many procurement strategies. In the realm of non-critical items, it guides the streamlining of processes and reduction of overheads. For strategic suppliers, it opens avenues for deeper, more collaborative relationships that can lock in value and innovation.

Putting this model into practice, you will likely notice a reshaping of priorities and shift in interaction styles. Non-critical items may move towards automated ordering systems, freeing up time to focus on strategic suppliers where the negotiation is about far more than just cost—it's about partnership and long-term value creation.

While the model is not a one-size-fits-all solution and does require a good deal of upfront analysis, the clarity it provides in supplier management is unparalleled. And, as we continue to see procurement evolve from a transactional function to a strategic one, such tools are vital.

I've stumbled upon a valuable resource that delves deep into the matrix, covering its application, steps for use, and expert advice which echoes my sentiments. Read a really good, comprehensive article here: https://procurementtactics.com/kraljic-matrix/

Best regards,
Tom Admin
Procurement Forum