Every supply chain executive whether he is into manufacturing, in distribution, or in retail has the same pains. All organizations sourcing from multiple vendors are struggling to onboard suppliers, get a 360o view of their supplier activity, tackle inefficiencies caused in operations due to redundant workloads, meet up the increased cost to supplier information management, arrest the delay in time to market, assess on supplier’s risk & compliance. To solve upon the above mentioned pains digital transformation is the only solution to handle them effectively.
Centralized Supplier Data Management
Operational Efficiency lacks as supplier data exist in silos across different offline systems. By adopting a robust supporting system that centrally manages all the data required for processing organizations can overcome the fragmented and old-fashioned way of managing critical supplier data. To outrun your competitors and save time leverage a vendor management software that centrally manages the relevant supplier data and assert supply chain agility.
Holistic View on Total Supplier Spent
All buying teams can significantly cut on supplier information management cost by streamlining and automating their supplier management. Digitization of vendor management saves millions of dollars per year as companies can gain visibility on the total spend per supplier. This insight data produced enables procurement / sourcing team negotiate for any applicable corporate discounts, pricing & payment pattern which in turn would reduce cost and improve collaboration.
Monitor Operational Efficiencies
Vendor Management Software solution with clear role based & task based workflows streamlines the way a company manages the suppliers’ lifecycles. It equips them with ways to monitor vendor performance with respect to on time delivery, quality of product delivered and quantity that meets the demand / order placed. With supplier relationship management software like Vendora you can turn inaccurate or disconnected manual data into clean, consistent, and connected digital information.
Go to Market Faster
By automating the supplier evaluation & on boarding process from weeks to days’ businesses can help shift sourcing to the lowest cost and at the same time assert supply chain agility. Collaborative framework solution from Vendora empowers businesses to automate procurement processes and forge relationships with suppliers.
Risk Management & Compliance monitoring
By leveraging supplier information management strategies businesses can elevate the collective organizational knowledge of your suppliers, their capabilities and convert suppliers to supply partners to boost productivity and reduce cost.
For more information on common vendor management challenges and solutions call us, we can fix up a demo to get on to harness the benefits.