MDMXPRESS - XPRESS Technologies

MDMXPRESS

Business Challenges

Synchronization

Gathering of data from multiple sources and reporting using Excel or other spreadsheets is manual activity by many businesses. They spend hours or sometimes days to manage this task on a regular basis. Data becomes voluminous overtime and does not fit the spreadsheets, which leads to multiple files to manage.

Data Quality

When there are frequent data updates the quality of data gets out of sync immediately. It is very important to check the quality of data by validating them when using it.

Frequent changing vendor information

Details for a contact person / point of contact at the company Location / geographical information (especially important if the supplier has operations / offices in different regions or countries, etc) Supplier’s legal information Relevant certificates provided by the vendor

MDMXPRESS

Benefits of Analytics Solution

Managing a Growing Supplier Base Effectively

Having a well-structured supplier management process in place will allow organizations to manage their multitude of suppliers with ease.

Achieving Cost Savings and Quality Control

Having strong supplier management practices will enable organizations to identify cost savings opportunities in the supply chain and scrutinize the quality of supplier output. This directly impacts and contributes to the company’s bottom line.

Improving the Organization’s Supply Transparency

When you have a supplier management system in place, it will allow you to streamline valuable information and data regarding the lifecycle of the suppliers. It enables the organizations to have increased transparency into the number and type of engaged suppliers and how they are performing and helps in identifying areas of improvement and design strategies to improve their performance further.

Tracking Compliance to Relevant Parameters

Every supplier has to fulfill specific set parameters to ensure they are fulfilling the requirements of the organization. Using a supplier management system, you can evaluate the suppliers’ compliance with the set parameters and identify the scope of improvement to derive maximum value.

Evaluating Supplier Performance

This is possibly one of the essential benefits of having supplier management. You need to know how your suppliers are performing because your organization’s performance is mostly dependent on them. Not only will supplier performance management allow you to evaluate supplier compliance, but it will also give you in-depth insights on their performance. Supplier management includes the creation of various KPIs to measure supplier performance, and using these; you can assess the value created by the suppliers.

Building Development Programs to Support Suppliers

Once you have evaluated suppliers and identified areas for improvement, supplier management can help you design development programs to support suppliers, especially the one that caters to long-term/crucial requirements and help improve their performance.

Leveraging Supplier Relationship Management

It might not seem so, but the relationships you build with your suppliers can be very beneficial for your organization. When you collaborate with your suppliers and involve them in the process of deciding how to achieve the relevant requirements, you build long-lasting, trust-based relations that can be leveraged in the future. Collaborating with suppliers makes them more willing to understand your business needs and consider strategies on the organization’s terms.

Assessing and Mitigating Supplier Risk

Identifying and mitigating supplier risk is another unequivocally critical benefit of having efficient supplier management for your organization. As supply chains and the resultant supplier relations become complex, the probability of detrimental supplier risks also increases. Supplier management helps in identifying and assessing the impact of the supplier risks and devising appropriate risk mitigation measures.

Building a Supplier Management Process

Now that we have identified the need and benefits of supplier management, it is necessary to establish a supplier management process. The process will guide an organization about the strategies it has to employ to manage the entire lifecycle of the engaged suppliers.

Solutions

Master Data Management Solution

Business Challenges

Synchronization

Data Quality

Frequent changing vendor information

Benefits of Analytics Solution

Managing a Growing Supplier Base Effectively

Achieving Cost Savings and Quality Control

Improving the Organization’s Supply Transparency

Tracking Compliance to Relevant Parameters

Evaluating Supplier Performance

Building Development Programs to Support Suppliers

Leveraging Supplier Relationship Management

Assessing and Mitigating Supplier Risk

Building a Supplier Management Process

Features

Quality of Data Verification

Synchronization

Dynamic Approval

Business Exception Reviews

Integration with Traceability

Integration with different ERP system

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