The Critical Importance of Efficient Vendor Management
The performance of your vendor partners directly affects your company’s competitiveness,
operating efficiency and cost structures – especially with increasing globalization and outsourcing.
The number of suppliers, outsourced functions, and increasing amount of unsynchronized data
compromise your organization’s daily efficiency and productivity. Effective management of vendor
relationships is no longer an organizational luxury. It is now a necessity for operational fitness and increased profits.
Are you faced with these challenges?
- Difficulty finding, updating and maintaining documents
- Obtaining supplier related documents is cumbersome and time consuming
- Performing annual supplier questionnaires (IT, risk, and general) is difficult and tedious
Solve these challenges with EC Sourcing Group Vendor Management Solutions
We have intimate knowledge of the vendor management function and proven tools that are easy to implement.
Plus, our solutions can organize all your vendor information into a single comprehensive system.
Our solutions will help you:
- Assess vendor capabilities, financial solvency, product/service quality and pricing
- Organize standard vendor information into a single comprehensive system that provides easy access, review and retrieval
- All supplier information and related signed documents are retrieved in a structured, yet flexible questionnaire-like manner that
allows for easyaccess
- Ensure proper metrics are being analyzed to continually measure, analyze, and manage vendor performance in order to sustain
and improve the effectiveness and efficiency of your supply base.
- Ensure that all supplier-related documents and periodic questionnaires (IT, risk, and general) are received on time and in the desired format
- Keep track of questionnaire due dates and document expiration dates. Our web-based application sends proactive notification to suppliers to
ensure timeframes are met.
- Automate much of the negotiations process and simplify supplier on-boarding – making it easier to establish an initial relationship for both parties
- Simplify the process for sellers who wish to promote value-added services and propose alternative ways to lower your costs – while also making
it possible for them to get their foot in the door with your company.
- Facilitate communications ensuring a fair/consistent process