Re-evaluating Supplier Relationships Using the Kraljic Matrix
Brian Seipel, Procurement Advisory Consultant at Corcentric, points out how procurement can leverage the Kraljic Matrix.
What the podcast covers:
In the early 1980’s Peter Kraljic proposed his two-by-two matrix as a way of informing the B2B negotiating process. Back then, procurement nearly always approached supplier decisions with a three-bids-and-a-buy process and formulaic negotiating tactics. At the time, it worked because most companies were operating in relatively stable conditions. But does the Kraljic matrix still work today?
In this episode of Corcentric Conversations, Brian Seipel, a Procurement Advisory Consultant for Corcentric, provides an overview of the Kraljic matrix and points out how procurement can leverage it to strategically revisit (and recategorize) our supplier relationships.