We have a supplier base of over 200 small-mid sized suppliers for a sub-category of spend (collections). The suppliers are typically based geographically, hence the large number. Individually, the suppliers have minimal spend. Some are engaged only a few times a year and some are one-time transactions. However, we are actively managing all of these suppliers in case an immediate need arises and they need to engage of these suppliers on an urgent basis.
1. How do you handle onboarding of smaller suppliers for one-time transactions (e.g. specialized appraisal services for a niche industry)?
2. Is the full due diligence process run or do you have another pre-screening process that can be used to quickly onboard these suppliers on an urgent basis?
3. How do you manage a high volume of suppliers providing similar services?
4. Do you manage all the suppliers in-house or do you outsource and have one supplier manage all others on your behalf?
5. What industry does your company work in?