Achieving the Vision of Holistic Supplier Management
Why don’t we know as much about our suppliers as we know about our customers?
This question has not been asked loudly enough. No company would tolerate the same lack of actionable information about their customers that procurement regularly struggles to overcome when managing suppliers.
If suppliers are to play a more central role in procurement’s workflows, we will need far more visibility into supplier transactions from onboarding to processing to payment. And we must achieve that visibility in a way that improves the supplier experience itself.
In this paper, we will identify three of the most common hurdles to achieving the vision of holistic supplier management and discuss potential solutions as well as the ROI that may accompany success:
- Hurdle 1: Different Roles - Different Relationships
- Hurdle 2: Ensuring Supply Continuity
- Hurdle 3: Strategic Payments
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