Supplier Network Management:

Managing Suppliers in an Integrated Economy

The Drive to Straight-Through Processing

The lack of consistent, accurate supplier information is costing the typical Global 2000 company tens to hundreds of millions of dollars annually. Gartner estimates companies spend up to $1,000 per supplier per year in management costs. And, with a widening maze of regulations to contend with, there’s never been more risk around getting this wrong.

How do you manage supplier networks?

Fortunately, supplier networks have evolved from simple, linear transaction-oriented exchanges into collaborative many-to-many platforms offering visibility into and control over supplier-related activities. These new solutions incorporate functionality that helps companies not only manage suppliers more effectively but also identify new suppliers and market opportunities, including:

  •  Supplier intelligence

  •  Commercial and financial risk analysis

  •  Social enterprise collaboration

  •  Actionable data for decision making

In these new models, supplier transactions are free of charge, making it easier to develop the kind of partnerships and collaborative relationships needed to maintain your competitive edge in the face of global competition. Get the report to learn more.

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"Increased adoption of supplier networks is largely attributed to improved networking functionality and the electronic transfer of documents between buyers and suppliers."

Supplier Network Management
PayStream Advisors