The challenges of managing multiple suppliers
As a buying organization, chances are that you have a business relationship with multiple suppliers. These suppliers may come in different shapes and sizes but have one thing in common – they help to drive your business.
Many companies struggle to efficiently manage their supplier relationships, and have poor visibility over them. Without full visibility of your suppliers and their ways of doing business, it is challenging and costly to manage them all. It is vital to have both accurate and updated supplier and product information to bring accountability to information sharing.
While having a view of your suppliers in one place is highly beneficial to your business, there also needs to be accountability for different supplier requirements. From small artisan food producers to large multi-nationals with of thousands of products, the critical issue for buyers is standardising their interactions with all suppliers to increase efficiencies.
Ideally you want to have a quick and easy way to trade with all your suppliers regardless of size, but different suppliers have different ways they want to interact with you, and it can be complicated to get them to sign up to a single process. Some larger suppliers have complicated, integrated communications that buyers have real difficulty engaging with. At the other end of the scale some small suppliers have a limited back office capability and prefer a non-sophisticated method of ordering.
To order goods effectively, buyers must know exactly what goods are available to order. They must submit the order in a format the supplier can interpret, which in turn allows them to respond easily. Subsequently they must be able to receive those ordered goods and if required inform the supplier of any discrepancies.
Celtrino’s TradeHub offering enables buying organisations to:
- Communicate clear expectations of service levels, performance standards and corrective measures.
- Standardise collaboration with suppliers, prevent business disruption and drive down costs.
- Fully integrate supply chain workflows and communication, automate all business document processing and reduce costs
- Streamline the entire process of managing suppliers, products and prices with a single unified view of supply chain activity
As well as these benefits, users can access the following services by engaging with Celtrino’s TradeHub Solution:
- Supplier Qualification - Buyers can decide to only deal with suppliers who have certain standard certifications. The service imposes workflows on suppliers that allow them to upload their documentation for review. A range of standard interactions make it easy for suppliers to engage.
- Supplier Determination - When there are multiple suppliers of a product, the system generates an automated workflow to determine the availability and best price for each product.
- Product Information Management - Product information management provides buyers with a single repository for all their product information.
- Product Catalogue –The supplier portal is underpinned by a product catalogue and removes the need to manually look through catalogues and lists of goods to order.
- Price Negotiation – Effectively play suppliers off against each other to get the best product price possible for your business.
So get in touch with us today, to start managing your suppliers and trading more efficiently.