Tag Archives: supplier relationship management
If your organization is working with a large number of vendors, you know the challenge to successfully manage your suppliers’ information across the entire enterprise.
It starts with quickly onboarding the right suppliers at the right location to introduce a new product or initiate a project – a process that can take several weeks if it isn’t automated.
Once qualified and on-boarded, you need to be able to assess your suppliers’ risk and compliance and analyze their performance. Do my suppliers deliver on time? Do they meet our quality standards? Do we benefit from negotiated corporate discounts and payment terms with a trusted Supplier360 view of our supplier relationships worldwide?
In order to enable organizations to more effectively manage vendors and their performance, negotiate better prices and payment terms, and reduce operating costs and risk, Informatica just launched the Total Supplier Relationship Application (TSR), a master data-fueled solution that optimizes supplier information management with a Supplier360 view across the enterprise.
Sodexo is a multinational food services and facilities management corporation. Frank Griffith, Senior Director of Integrated Procurement Systems at Sodexo says: “The Informatica Total Supplier Relationship application will empower Sodexo to manage our supplier master data and vendor items more effectively and streamline our current supply chain processes. Based on one, single trusted view of our vendor and product data, we will be able to better track our vendors’ compliance, and manage vendor performance and certifications, while leveraging the GDSN (Global Data Synchronization Network) for nutritional product attribute data.”
Combining the industry-leading Informatica Master Data Management (MDM) hub with Informatica Data Integration and Informatica Data Quality, TSR is a master data-fueled application with a configurable business-friendly user interface. It can be enhanced with Informatica Product Information Management (PIM) and Data-as-a-Service for contact data verification and enrichment.
“Inaccurate, inconsistent and disconnected supplier information prohibits us from doing accurate supplier spend analysis, leveraging discounts, comparing and choosing the best prices, and enforcing corporate standards.”
This is quotation from a manufacturing company executive. It illustrates the negative impact that poorly managed supplier information can have on a company’s ability to cut costs and achieve revenue targets.
Many supply chain and procurement teams at large companies struggle to see the total relationship they have with suppliers across product lines, business units and regions. Why? Supplier information is scattered across dozens or hundreds of Enterprise Resource Planning (ERP) and Accounts Payable (AP) applications. Too much valuable time is spent manually reconciling inaccurate, inconsistent and disconnected supplier information in an effort to see the big picture. All this manual effort results in back office administrative costs that are higher than they should be.
Do these quotations from supply chain leaders and their teams sound familiar?
“We have 500,000 suppliers. 15-20% of our supplier records are duplicates. 5% are inaccurate.”
“I get 100 e-mails a day questioning which supplier to use.”
“To consolidate vendor reporting for a single supplier between divisions is really just a guess.”
“Every year 1099 tax mailings get returned to us because of invalid addresses, and we play a lot of Schedule B fines to the IRS.”
“Two years ago we spent a significant amount of time and money cleansing supplier data. Now we are back where we started.”
Please join me and Naveen Sharma, Director of the Master Data Management (MDM) Practice at Cognizant for a Webinar, Supercharge Your Supply Chain Applications with Better Supplier Information, on Tuesday, July 29th at 11 am PT.
During the Webinar, we’ll explain how better managing supplier information can help you achieve the following goals:
- Accelerate supplier onboarding
- Mitiate the risk of supply disruption
- Better manage supplier performance
- Streamline billing and payment processes
- Improve supplier relationship management and collaboration
- Make it easier to evaluate non-compliance with Service Level Agreements (SLAs)
- Decrease costs by negotiating favorable payment terms and SLAs
I hope you can join us for this upcoming Webinar!