Three ways supplier and contract management can take your procurement strategy to the next level
Joe Catling, Business Development Manager, Proactis
It’s been an interesting few months during which I’ve spoken with many organisations about how they can adapt to change and take their Procurement function to the next level – it’s been great to see the determination and resolve of Procurement professionals
to evolve, solve problems and drive more value into their organisations.
Whether you’re in real estate, property, facilities management, retail, care or not for profit, we have identified three ways that supplier and contract management can help strengthen your organisation.
When our environment changes over night, or a new business need arises, procurement must be able to move quickly to neutralise risk and support the organisation by continuing to deliver high value using the supply chain – the delivery of PPE was a very real example of this.
A cleaner, more rationalised supply directory can support speedy decision making as you can view every supplier and their goods, services, locations, certifications, specialties and contacts in one place – which is vital when you need to call on your supply base at short notice. And the ability to send out supplier-wide communications and customisable electronic questionnaires with automated response summaries enables the quick assessment around risk and supplier delivery capabilities.
When contracts are paper-based and held in office draws, or stored disparately in people’s inbox, access becomes even more difficult when a shift in operating model occurs - just like in recent times with a move to remote working. A consolidated, digital repository therefore gives ultimate agility regardless of staff location.
Natural integration with a finance/ERP solution like Infor Sun, Unit4, MRI (amongst many others) strengthens agility deeper into the organisation as supplier data is consolidated, supplier invoice queries are more quickly resolved, and PO-flips enabled for more efficient processing.
Consolidated and rationalised data, combined with visibility enables procurement to move with change without cracks appearing. This also all helps with supplier experience and relationships.