Master Data Management is the key strategy of all winning corporations as it holds the data about your of customers, vendors, employees and products. supplier data management is a part of Master Data Management (MDM) and is the base for effective strategic sourcing, inventory reduction and cost reduction initiatives. This service helps organizations to manage and monitor their supplier data by improving the quality of the data by our cost effective services. This leverage yours buying power and reduce costs.
Supplier Data Management process involves Supplier Data Enrichment, Supplier Rationalization, Spend Data Management and Supplier On-boarding Services. Supplier data enrichment is the process of enhancing the suppliers Enterprise, Diverse and Federal data for the effective master supplier database management. Supplier rationalization is the process of concentrating purchases with a small group of suppliers to leverage in negotiating purchase prices and to reduce risk. Spend data management is the processes of analyzing spend for each supplier for various categories across business units for supplier consolidation. Classification is also done. And supplier on board services is an ongoing process; here new supplier is guided from online registration and activation. This also involves the validation of legal, address and product data to pre-qualify suppliers. Supplier Data management helps reduces supplier risk with effective supplier monitoring. It also increases supplier diversity and supplier performance evaluation. It reduces the overall turnaround time and integrates internal information with purchasing systems. Finally it completes data with no duplicates and gives a clear view of improved supplier relationships.
