Supply Chain & Procurement
Supply chain and procurement management functions manage and organize the activities involved with the identification, acquisition, and distribution of goods and information through suppliers and vendors. They are constantly challenged to effectively and efficiently manage the company's resources by obtaining the best prices for raw materials, in the necessary quantities, without compromising on quality and ensuring complete adherence to procurement policies. An automated solution is required consolidating processes, standardizing supplier assessments and contract processes to create a single online repository for vendor and supplier due diligence and contracts. This also automates compliance and administration of ongoing contractual commitments along with risk mitigation.