Every day at MSP Today I learn something new. Today I got to bone up on supplier management technology.
The impetus? A deal where Randstad Sourceright is using supplier management technology from HICX Solutions.
In researching Randstad, I learned something else – what a talent solution provider does. I’ve heard of talent agencies and talent scouts and talent shows, but this is different. This is more on the human resources end of things.
“Our experience encompasses all facets of talent, including traditional employees and the contingent, free agent workforce. Key offerings include Blended Workforce Solutions, Recruitment Process Outsourcing (RPO), Managed Services Provider (MSP) programs, and Contingent Workforce Services (CWS),” Randstad explained.
All this can add to up to big bucks. Randstad is a $22 billion company!
Randstad MSP offerings include “supplier management, professional pay rolling, independent contractor management solutions, vendor management technology and statement of work services,” according to the company.
The MSP side of Randstad’s business is the one bolstered by HICX. So let’s get down to explaining supplier management.
According to a report from the
University of Michigan, “Supplier Base Management (SBM) is a systematic dynamic approach for strategically managing the whole supply base (current suppliers, minor suppliers and potential suppliers). SBM also deals with the transition of suppliers between groups.”
As you can see, this is related to the supply chain, but is a more discrete discipline.
The Supply Base Management Suite from HICX helps customers manage their contracts, keep track of supplier data, and increase compliance while reducing risk.
Okay, so now we’ll look at what happens when you add supplier management to talent solutions, and hear again from Randstad.
"Flexible talent represents an increasingly strategic asset for employers today, and Randstad Sourceright is committed to providing MSP solutions that optimize talent supply chains now, while helping our clients remains flexible to meet evolving workforce and organizational goals in the future," commented Teresa Creech, president of MSP and Contingent Workforce Solutions (CWS) for Randstad Sourceright. "Integrating Supply Base Management with our proven methodology gives Randstad Sourceright a bird's eye view of each client's ecosystem to better understand the employer's needs, develop more strategic relationships with our suppliers and deliver measurable results."
The result should that Randstad can give its client improved visibility into its suppliers, and better supplier discovery.
That’s it for today’s lesson!
Edited by
Stefania Viscusi
