Drive competitive advantage by lowering costs, risks and establishing effective supplier relationships
Leading companies are moving towards a more strategic approach to supplier management – one that recognises and leverages how supplier relationships impact the bottom line, proactively managing relationships with their strategic suppliers to ensure a consistent, high quality service in the procurement of key goods and services.
Handle all your Suppliers efficiently, smartly and in one place to allow significant process improvements and controls that will benefit not only the Supplier but results including lower costs, less risk, and more effective relationships that help drive competitive advantage.
- Supplier Management can help your business gain one source of truth for your supply base and run better by
- Cultivating value-driven supplier relationships
- Reducing cost and driving innovation
- Minimising supply-base risk
All businesses have to handle and process their suppliers. How this process is managed and controlled varies greatly. Some of the common issues includes:
- Fragmented and inaccurate supplier data across multiple disconnected systems
- Incorrect, incomplete, and out-of- date supplier information
- Lack of visibility into supplier performance and risk
- Inconsistent or non-existent processes to measure supplier performance
- Limited resources to monitor and execute an SPM and risk program
Managing your supplier data is a never ending task; supplier relocating, personnel changes and keeping track of certifications is often very labour intensive requiring manual effort from people, because that’s how it’s always been done. As a result, many organisations have lost sight their preferred supplier base.
The concept of Supplier Management looks at optimising the end to end process from supplier Registration to Approval and maintenance through to readiness for participating in Sourcing Events, contracts and transactions.
Allowing your Suppliers to manage their own data within your Supplier Management solution saves your organisation time, and increases data accuracy.
For a successful Supplier Management certain initiatives need to be addressed to achieve results:
- Detailed supplier registration process
- Supplier questionnaires
- Supplier approval
- Key supplier user account managers assigned
- Supplier data Integration
- The road to successful supplier management needs ownership, planning and expectation management
- Supplier Management strategies and approaches vary dependent on your organisation and your goals
Automate supplier collaboration.
Advanced, skilled and qualified supplier.
Reduction in workload
Reduce administrative burden.
Accurate control and visibility
Full visibility into supplier performance.
Decrease supplier management
Minimise supply-base .
Supports finance processes
Collecting key supplier financial information upfront.