Improve Supplier Collaboration

In order to improve time-to-market performance, reduce inventories and shorten order fulfillment cycle-times good supplier collaboration is a must. Along with the shifting of the demand, supply and regulatory conditions companies need better collaborative supplier relationships to assist them to steer market volatility successfully.

Important transactions flow more efficiently and accurately. Companies can benefit from lesser errors in the involved processes and overall flow of work only when a company and its suppliers have a constant two way communication process and framework for updating financials, credentials, certifications, etc.

What is necessary for successful buyer-supplier collaboration is both parties must support more accurate and efficient data sharing. There needs to be a single version of truth so that both the company and its suppliers always view the same updated and correct data. There must also be a strong communication framework so that resources involved do not have any difficulty finding the right information and spend lesser time and effort on such activities and focus on the important and value added work.

Many critical situations such as the pressure to reduce costs, volatile market conditions require continuous changes and negotiations related to pricing, shipment schedules and product obsolescence. The speed at which a company and its suppliers react is directly linked to the speed at which information and data are accessible and shared between the company and the suppliers. Improving supplier collaboration and knowing basic information about your suppliers‘supply chains helps to improve response time related to any concerned issues.

Digital Supplier Walls

We make use of Digital Walls for Suppliers where all the necessary information related to the suppliers is stored. We have details of every supplier, each service request, supplier contact information, location details, preference details, history of conversations with suppliers etc. All this information is kept up to-date. All of this information is available on mobile devices, laptops, desktops through powerful reports & dashboards.

For the Digital Walls to run smoothly we provide all the necessary data that’s automatically updated, with instant access for employees, suppliers, and customers and provides a full history of all communications, meetings, and documents shared with relevant access at each level.

The Digital Supplier Wall has helped us improve products and services. We have been able to collate important supplier information from a huge variety of sources across businesses. This gives us valuable and innovative Supplier insights into how our suppliers are doing and what is their opinion about our company. This in return helps us improve what we offer, detect issues if any at an early stage as well as helps us identify gaps to quickly resolve supplier related problems.

Digital Walls helps to increase referrals from existing Suppliers. By understanding suppliers better, opportunities become clear giving us the chance to win new business from existing customers. With the knowledge about our Suppliers we can provide better service and increase the number of Suppliers and relationships between them as well. Happy Suppliers help in increasing referrals in-turn increasing business. We utilize CRM Digital Walls for Suppliers primarily so that they can have the right and updated information and also so that we can better understand the pipeline of prospective sales making, supplier activities, forecasting more accurately.