Transforming How the Supplier Relationship Manager Works Uncovering New Forms of Value

As the perception of suppliers, their strategic role for the success of a business and the way we interact with them is changing, the role of a supplier relationship manager is gaining more and more in importance. In a world of competing supply chains, a business’ success is automatically tied to the success of its suppliers. Collaboration with suppliers is an essential mean to create value as suppliers can help gain competitive advantage in many different ways.

Identifying Innovation and New Business Opportunities with Suppliers

shutterstock_281090921The focus of a supplier relationship manager is to develop and maintain the relationship with key suppliers to identify continuous improvement, innovation and new business opportunities with them. He is in charge of uncovering new forms of value and collaboration with suppliers to facilitate long term strategic goals. Often the supplier relationship manager needs to provide the sourcing manager with useful input/data for negotiations with suppliers. To enable the business to leverage best in class supply chain performance, he also has to identify opportunities and risks related to suppliers. This includes the clear definition of a supplier governance model to ensure effective relationships and where required an escalation process to quickly resolve any issues. It can also consist of an ongoing supplier performance and strategy analysis to enable the business to deliver the best solutions to its customers.

Siloed Systems Prevent from Developing Successful Supplier Collaboration

To ensure existing and future business needs can be met, a supplier relationship manager needs a complete and trusted Supplier360 view to understand all suppliers and to have quick access to current and complete supplier delivering capabilities, contact and company data.

Beside more soft skills and the management capabilities mentioned above, this new reality relies more than ever on clean, consistent and connected data and the need to access the right data at the right time exactly when it’s needed. But quite often, the required information is spread across different siloed systems, which support various functions, regions and business units making it impossible to access a 360° view of all relevant supplier data. The results are higher costs, an inability to take advantage for discounts, lower margins, missed market opportunities and potential regulatory/compliance issues.

Uncovering New Forms of Value with a 360°-View of All Supplier Relationships

Informatica MDM-Supplier 360 is a master-data fueled application providing a new way of streamlining vendor and supplier relationship management (SRM) based on one single, trusted source of business-critical data for analytics, operations and relationships. The business-friendly application helps strengthen supplier relationships and uncover new forms of value for SRM to make the shift from tactical to strategic.

Example of a dashboard in Informatica MDM-Supplier 360 (buyer’s view)

Underpinned by the market-leading Master Data Management, the secure and enterprise ready Supplier 360 solution helps to improve supplier relationships and collaboration across the business and includes:

  1. Real-time visibility of all supplier related information, like
    • What are they supplying (products, raw materials, components or services)?
    • Which company is it (e.g. stand-alone or subsidiary, local, regional, or global)?
    • Who are my contacts (e.g. for order, delivery, billing)?
  2. Powerful capabilities and dashboards to analyze and monitor vendor performance
  3. Alerts about supplier risk and compliance, like expiring certificates
  4. Access to aggregated spend for negotiating better pricing and payment terms
  5. Easy integration with other operational applications
  6. Ability to fuel other applications with cleansed, consistent and connected supplier data

Using the Informatica Supplier Portal, suppliers can update and complete information at any time and also upload their product catalogues to the integrated MDM-Product360.

Working with clean, consistent and connected data across the enterprise strengthens competitiveness and helps make informed decisions for an end-to-end impact on supply chain optimization.

Download White Paper: 5 Data-Driven Challenges You Must Overcome to Strategically Manage Your Supply Chain

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