Manufacturing companies often face challenges associated with complex supply chain environments, which significantly impact the way they manage supplier relationships. Procurement in these settings involves working with a variety of different supplier types, sometimes based in different global locations, which must comply with specified policies and timelines to provide widgets, components and services associated with the production of intermediary or final goods.
Supply chain efficiency is critical for maintaining effective manufacturing processes, for meetings supply commitments and for maintaining competitiveness, and one of the ways by which manufacturers can maintain effective processes is through the intelligent automation of procure-to-pay processes.
When interfacing suppliers around shipment matters, for example, manufacturers often manage interactions manually, using e-mail and phone calls for back and forth communications and relying on Excel files to track data. This manual way of managing supplier interactions is time-consuming, error-prone, and overall inefficient, potentially leading to supply, and therefore manufacturing delays.
Automation could be an effective tool to streamline supplier communications, particularly by creating greater transparency around order scheduling, by automatically tracking and managing scheduling and following up on missing data or activities, by providing clear and automated guidance to both buyers and sellers around each individual process and its unique requirements, and by requiring compliance.
To manage the complexity that characterizes manufacturing industries, the solution must be able to view each process as unique, to apply to it the appropriate rules and policies, to ensure compliance, to identify and require the correction of errors and discrepancies, and to identify and manage disputes. To achieve optimal ROI, such solutions must be holistic in nature, viewing each process in the context of the entire set of procurement activities and the environment in which they play.
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A range of supplier solutions
“By providing real-time visibility to receivable worthiness and partnering with non-bank capital resources, 新万博体育 is expanding the range of available trade financing options at a time of great need.”
“新万博体育 enables interoperability between different supplier communication solutions (for example, electronic data interchange [EDI], supplier networks and e-invoicing), allowing enterprises to rapidly achieve over 90% straight-through processing of all supplier invoices directly to their existing ERP systems.”
“新万博体育 is the real deal when it comes supporting both application capability in P2P, such as e-invoicing and the connectivity or network layer itself.”
“Before moving to 新万博体育’s digital platform, we had to manually process hundreds of thousands of physical documents… we were sometimes late paying our suppliers… Nowadays the Electric Company receives the vast majority of invoices through 新万博体育’s digital platform, which automatically examines them and provides intelligent validations… Once we started using 新万博体育 our work processes shortened and became more efficient. The number of people required to handle invoices was reduced and the company’s ability to comply with payment obligations to suppliers improved significantly. We’ve gotten rid of almost all of our large filing cabinets, freeing up a lot of office real estate, have done away with the exhausting filing activities and have almost completely eliminated the need to manually key-in data.”
Head of Accounting Division
“The 新万博体育 platform has enabled IAI to significantly improve supply chain efficiencies and supplier relations by creating transparency, and by automating the bulk of documentation along with the proper validations. This has freed up our team to address more value-add challenges, has eliminated data errors, and has enabled us to meet our SLA vis-à-vis suppliers and customers. Beyond the technology’s ability to address complex matters, the 新万博体育 team has demonstrated drive, flexibility, and creativity. All of this has encouraged us to move into new areas with 新万博体育 and to strive towards making it a one-stop-shop for IAI and its global suppliers.”
Deputy COO and VP Supply Chain
Get all the help you and your suppliers need
While 新万博体育 Supplier Cloud is extremely easy to use, 新万博体育 offers your suppliers all the help they need during the on-boarding and beyond.
新万博体育 offers fully managed supplier enrollment program where our Supplier Support Teams will reach out to your suppliers, authenticate their identity, gather and validate required information and walk them through the on-boarding process.