Introduction
The client who hailed from the food and beverages industry was a leading CPG (consumer packaged goods) company who had approached us for a solution. The company was seeking a system to bring transparency in their procurement management process and to replace their manual methods by an automated software system.
Problem Outline
The client needed a vendor management solution that would remove the lack of transparency in their purchase methodology. The management felt a strong need to be able to measure the performance and efficiency of the purchase teams. They were seeking ways to automate sourcing tasks, thereby reducing manual work of request for quote (RFQ), negotiations and follow up with vendors or procurement management. They wanted to overcome the lack of trusted suppliers by sourcing more vendors. Owing to the high dependency on limited number of vendors in various categories, the company couldn’t get leverage for negotiations and had to face high supplier risk.
Solution Summary
After our executives had meetings and discussions with the client, there was consensus to deploy a strategic sourcing platform for the company, in multiple raw material categories, that in future will have a dedicated customer success manager and to provide support to train both buyers and suppliers in the Vendor Management Software. They envisaged that by bringing the entire purchase process online, and also with the usage of mobile apps, it has brought transparency into vendor quotations and interactions. A vendor management portal like Vendora helps automate multiple follow-ups between buyer & supplier for purchase. It helps with integration and customization to meet the needs of stakeholders involved. Implementing an online electronic vendor management system opens a single window communication in real-time.Outcome
- Transparency in supply chain tracking activities in the portal
- Closes communication gap between vendors & buyers
- Integration with your ERP system is easy
- Saves significant amount of time.
- Eliminating manual tasks by automation
- Digitizes the procurement process involving RFQ, RFP, PO, Invoice, etc.
- Access by single entry point for all users of the portal
- Eliminates time due to unnecessary phone calls and paperwork
Client Testimonial
An ideal system with transparency for vendors that helps avoid manual tasks that saves time and costs.
——— Head of Procurement, Manufacturing Division
