Supplier Information and On-Boarding Management
Organizations rely on suppliers across the globe to deliver critical product components, goods, or services. Each supplier, in turn, has their own network of sub-suppliers and contractors. This results in a complex and multi-layered supply chain. Ultimately, organizations at the top of this chain are responsible for the actions of their suppliers and sub-suppliers. So they need to know enough about their suppliers to make intelligent sourcing decisions. And if a quality or compliance issue arises, they need to have the visibility to trace the issue back to the source. That is why it is so critical to have a well-structured and streamlined supplier on-boarding and information management process.
Using spreadsheets, emails, papers, and phone calls to manage the supplier information and on-boarding process is not only time-consuming, but also costly and chaotic. Some organizations use a decentralized approach where each business unit on boards and manages their supplier information separately from others. This only further complicates supplier governance and risk management.
MetricStream Supplier Information and On-boarding Software Solution
MetricStream offers a single, comprehensive solution to manage supplier information and on-boarding across the global supply chain. The solution streamlines the on-boarding process - right from sending out assessment questionnaires, to evaluating supplier credentials, performing initial due diligence, shortlisting and selecting suppliers, and defining on-going supplier monitoring activities. Essentially, the solution helps organizations make an informed choice about their suppliers in keeping with regulations and organizational policies.
The solution provides a Web-based interface to interact with suppliers worldwide. This allows organizations to do away with cumbersome emails and phone calls. Automatic supplier alerts and notifications simplify and accelerate communication across the supply chain.
A central database in the solution maintains all supplier profiles, factory information, and details around quality assurance, corporate social responsibility, insurance, and environmental policies. Any changes to the supplier organization (e.g. new subsidiary, mergers & acquisitions) are easily captured.
The solution integrates with industry sources to verify and validate the information provided by potential suppliers. This way, organizations can stay ahead, and mitigate risks in time.