Suppeco Intro

relationships are being managed, and what our challenges and successes are within each one,” he says.

King adds “the fact that our suppliers are able to see how we operate and that we’re open to criticism drives an immediate stepchange in supplier behaviour.

“They can see that we aren’t just managing their performance on Suppeco, we’re also monitoring our own,” he says. “This has helped in securing supplier engagement and buy-in.”

King explains that in the past, supplier meetings would be monthly or quarterly and that all the information was “historic”.

“It would be compiled by one party or the other,” he says, “so we’d be effectively meeting to talk about what had already happened.”

Now, he says, we’re running performance reviews directly from the Suppeco platform, and “remotely sharing up-to-date screens, and real-time live data”.

King adds: “Ultimately business is about driving value, increasing profit, and reducing cost. Suppeco is helping us see how all those things are infinitely more achievable by unlocking our supplier relationships.”

Suppeco’s Mydat says that, as with most large organisations that work with multiple suppliers and various levels of complexity, BAE’s applied intelligence “was traditionally focused on driving category spend within their procurement function”. He states that this fails to leverage the strategic value within supplier relationships, because focusing on cost efficiency and contract performance “puts the emphasis on the numbers and the contracts”.

“This tactical approach leverages a crucial but finite opportunity to drive value. By contrast, the relationship space contains an infinite array of opportunities to collaborate, to create value, promote transparency, innovation, agility and, crucially, to promote growth across the ecosystem and supply chain.”

Mydat explains that the pandemic was “a wake-up call” and has resulted in a “direction of travel” for supply chain technology, towards “more resilient relationship engagement”.

“This is the foundation of Suppeco,” he surmises. “So I was delighted that Simon and his team agreed to trial, and then licence, Suppeco at the beginning of 2021.”

About Suppeco

Supecco was founded in 2017 by Sheldon Mydat, an expert in the field of supplier relationship management (SRM). Prior to founding the company, he led successful supplier transformation programmes for highprofile organisations such as The Metropolitan Police, Royal Mail Group, and Lloyds Banking Group.

In February 2023, Suppeco earned ‘Innovator’ status from International Data Corporation, the global market intelligence firm – earning the accolade for its data-driven live insights that deliver “actionable visibility deep into the supply chain”.