Transforming Your Vendor Management Strategy: Insights from Hasbro's Senior Director
In this episode, Anne-Sophie Le Bloas, CEO at Ravacan, speaks with Sophie Barde, the Senior Director of Global Vendor Management at Hasbro, a multinational toy and board game company. Sophie shares insights and strategies for effective vendor management, essential for any company that sources materials or products from external suppliers.
Sophie explains that vendor management is a complex and multifaceted process that involves building and maintaining relationships with suppliers, ensuring quality and compliance, managing risk, and achieving cost savings. She emphasizes the importance of clear communication, transparency, and collaboration between the company and its vendors.
Sophie also discusses the challenges and opportunities of vendor management in the context of the COVID-19 pandemic. She explains that the pandemic has disrupted supply chains and forced companies to adapt quickly to changing market conditions. She stresses the need for flexibility and agility in vendor management, as well as the importance of building resilience into supply chains.
Throughout the episode, Sophie shares practical tips and best practices for effective vendor management, including:
Building trust and rapport with suppliers through regular communication and transparency
Establishing clear expectations and performance metrics for vendors
Ensuring that vendors understand the company's quality and compliance standards
Conducting regular audits and risk assessments of vendors
Leveraging technology and data analytics to optimize vendor performance and identify cost savings opportunities
Overall, "Ahead of the Game: Vendor Management with Sophie Barde at Hasbro" offers valuable insights and advice for anyone involved in vendor management, from procurement professionals to supply chain managers.