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Supplier Management Software
Supplier Management Software
The supply chain planning and execution process where users can access a full set of supplier management tools to share critical information like forecasts, orders and inventory particulars with multi-tiered vendors to obtain commitments in real time reducing stock levels, maximizing fill rates and boosting productivity.
It is a one-stop, self-service platform for collecting, storing, sharing and tracking supplier information. It features a comprehensive set of supplier relationship management (SRM) tools designed to make it easier for vendors to provide data and for manufacturers to collect it.
Data capture is automated, with all communication standardized into one supplier management system capable of generating highly precise information that can be used to drive seamless collaboration between suppliers and manufacturers.
SRM are susceptible to common challenges include higher chances of data entry errors, monotonous processes prone to delays, isolated, erroneous and/or missing vendor data, lack of supplier visibility and compliance risks, improper workflow and approval mechanism. Correct, up-to-date supplier profiles, compliant document processes and pre-set questionnaires improve the quality of vendor information.
Master data management proactively and continually profiling, cleansing, validating, augmenting, synching and driving data stewardship to fuel your strategy and decision-making with data that is up-to-date, accurate, and reliable. Master data for all your procurement functions planning, sourcing, contracting, managing and purchasing.
Procurement Efficiency: Ensure that procurement and supplier requirements are on the same page, Compliance: Detect and confront potential supply challenges and risks before they disrupt production.
New Product Introduction: Eradicate defects and introduce quality products into the market quickly, at more competitive prices and Partnering: Forge profitable partnerships by enhancing the attractiveness and proficiency of internal processes.
Benefits
- Item cleansing, duplication removal and classification
- Attribute extraction and standardization
- Periodic incremental cleansing