Supply Chain Management – Survey Your Suppliers
TealBook research reports that 57% of procurement leaders reply on manual entry for supplier data, resulting in inefficiencies and a large strain on resources. Manual entry also results in keying errors, which can increase your costs. How? If your supplier changes your order from 100 items to 90 items, but the change is entered as 900 items, what are the consequences of this error? Did you prepare to receive all the additional items, but they never arrived?
How can you eliminate these inefficiencies? Here are three steps to get you started:
- Develop a plan to implement more documents electronically
- Survey your Suppliers
- Prioritize and Implement
Once you have developed a plan to implement more documents electronically, you need to survey your suppliers to assess their capabilities:
- Do they already support these documents?
- Are they willing to implement these documents?
- Are they unable to do business electronically?
Innovate’s Trading Partner Expansion Program can help you survey your suppliers. In addition, for any of your suppliers that do not have the capabilities to do business electronically, Innovate’s Supplier Portal will give them that capability.
For more information on Innovate Managed Services and Trading Partner Expansion Program go to WHAT WE DO | Innovate EC.