What challenges does your organisation face?
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
- Minimizing supply-base risk
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 organizations have lost sight their preferred supplier base.
The concept of Supplier Management looks at optimizing 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 organization 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 organization and your goals
Automate supplier collaboration.
Advanced, skilled and qualified suppliers.
Reduction in workload
Reduce administrative burden.
Accurate control and visibility
Full visibility of supplier performance.
Decrease supplier management
Supports finance processes
Collecting key supplier financial information upfront.
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