The supply chain is at the heart of business strategy – used to plan your organisations supply and demand for months. But what lies at the success of an efficient and compliant supply chain and what lessons can be learned to improve supplier management?
Supply chain management today is fraught with difficulties and Procurement Chiefs are finding it hard to get data in place, especially when it comes to suppliers. Surprisingly CPO’s are not on top of supplier data, as they have information, but it is information from invoices which is misplaced across the organisation.
Supply chain managers have to maintain a balance of cost, agility, and sustainability, as well as manage the logistics and footprint. All these issues come with their own problem, but overall the trade-off is cost versus risk – Not having an efficient and effective supplier management processes affects not only the ability to measure supplier performance but how they comply with legislation and standards.
Supply chains have to be inventive to strike a chord between cost and performance. Going out to unexplored areas of risk, such as new markets, using new local suppliers and accessing new costumers comes at a cost. Risk management is an important part to the supply chain management process, so no data can go amiss.
Most organisations do not have the ability of technology functionality to drive performance in the area of supply chain management because of a lack of consistent data. If you don’t know your suppliers, you are not going to manage them well – not managing suppliers means you are going to fall short of your desire to keep control, visibility and manage supply chain risk.
A robust information management tool with a supplier intelligence function that tells you as much as you need to know about your suppliers – this is the key to success for a more efficient and compliant supply chain.
Our Contract Management Systems not only manages all your contract information and documents providing a register of contracts, but integrates contracts with a supplier database which handles all supply chain data and your supplier relationship management; so you can get the most from your suppliers.
Evaluate your new markets and new suppliers by sending out policy questionnaires via Accord to accept or reject contract work. Allowing you to gain all the information you need to know to make strategic decisions.
Our supply chain management function is able to push work out to your suppliers. With our functionality we have enabled suppliers to login and manage their own insurance and legal compliance; reducing your workload and creating more time for evaluation.
The supplier functionality allows you to pull information from your suppliers faster and hassle free – forget collecting information from invoices that are scattered around the organisation. Use a centralised system that creates alerts for automatic triggers to let your supplier and team, know you require annual documentation.
Learn more from our team and how innovative contracts management can empower your business.