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Supplier acquisition: definition and important aspects for buyers
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Supplier acquisition in a nutshell:
Supplier acquisition describes the systematic process of identifying, approaching and acquiring new, suitable suppliers for the company. For purchasing, this is a strategic instrument for expanding the supplier portfolio, minimizing risk and optimizing procurement conditions.
Example: An automotive supplier identifies 15 potential new suppliers for electronic components within 3 months through structured market research and trade fair visits, holds talks with 8 of them and, following successful qualification, adds 3 new suppliers to its portfolio with conditions that are on average 12% more favorable.
Contents
What is supplier acquisition?
Supplier acquisition refers to the targeted process of searching for, identifying and acquiring new suppliers in order to optimally meet a company's procurement needs. The aim is to build a diversified and efficient supplier network that improves quality, costs and delivery capability and minimizes risks.
Core elements of supplier acquisition
Significance for purchasing
Effective supplier acquisition is crucial for a company's competitiveness. By acquiring new and efficient suppliers, costs can be reduced, the quality of the materials or services purchased can be improved and supplier risk can be reduced. It also promotes innovation by providing access to new technologies and products.
Supplier acquisition: from traditional search to digital supplier onboarding
Building on the theoretical understanding of supplier acquisition as an essential component of strategic purchasing, its practical implementation is becoming increasingly important in companies. The efficient identification and selection of suitable suppliers is crucial for competitiveness and innovation. In view of globalized markets and technological advances, there is a need for a transformation from traditional to modern acquisition methods.
Old: Traditional supplier search
Traditional approach: Supplier acquisition was originally based on manual processes. Purchasing departments use industry directories, trade fair visits and personal networks to find potential suppliers. Communication is often by phone or email, and data collection is done manually in Excel spreadsheets. This approach is time-consuming and error-prone. In addition, there is often a lack of comprehensive information on supplier performance, which can lead to risks in terms of quality and delivery reliability.
New: Digital supplier onboarding
Digital supplier onboarding: Modern companies rely on digital platforms and technologies to optimize the acquisition process. Suppliers can be identified and evaluated globally through the use of online portals, electronic tenders and AI-based analyses. Automated workflows enable faster integration of suppliers into procurement logistics. Real-time data and comprehensive evaluation metrics improve the basis for decision-making and minimize risks. This leads to increased efficiency, cost savings and greater transparency.
Practical example: Mechanical engineering industry
An international mechanical engineering group implemented a digital supplier managementsystem to modernize its supplier acquisition. By using a central platform, over 800 potential suppliers were identified and evaluated in a standardized manner within three months. The acquisition time was reduced by 50%, and the procurement costs fell by 12% due to better negotiation opportunities. In addition, supplier quality increased by 20% thanks to access to detailed performance data, which led to higher customer satisfaction.
Conclusion on supplier acquisition
Supplier acquisition is a strategically important process for the long-term success of a company. Through systematic market analysis, careful evaluation and digital transformation, companies can optimize their supplier network and achieve competitive advantages. The focus is increasingly on the balance between cost efficiency, quality and sustainability. Successful supplier acquisition requires both traditional skills and modern digital capabilities in order to meet the challenges of the dynamic procurement market.
