Supplier relationship management - ERP Tools

Enabling supplier relationship management has been one of the hottest growth areas in technology. This is because every enterprise—not just manufacturing companies—have suppliers of products and services to manage. With the extreme pressure for continued bottom-line returns, every company is looking to reduce its spending. The big issues in supplier relations management are:

  1. Lack of visibility and control over all categories of spending
  2. Silo supply solutions and processes
  3. Inefficient communication with suppliers
  4. Manual, labor-intensive processes
  5. Not leveraging complete supply base
  6. No single integrated insight into activity, performance, or spend

Integration of the business process from source to settle.

integration of business process from source to settle

Figure above shows the integration of business process from source to settle. The major processes include the following:

  1. Design—Use full product life cycle collaboration.
  2. Source—Select the best suppliers and negotiate agreements.
  3. Engage—Implement pure Internet for rapid supplier adoption.
  4. Procure—Use end-to-end solution for both goods and services procurement and automate information exchange.
  5. Settle—Use self-service invoicing and dispute resolution.
  6. Analyze—Communicate supplier performance and identify process improvements.

All rights reserved © 2018 Wisdom IT Services India Pvt. Ltd Protection Status

ERP Tools Topics