Strategically Manage Supplier Relations with Informatica Supplier 360 SaaS
A Modern, Intelligent 360° Cloud-Native Solution
Supply chain continuity is top of mind across industries and the globe. Significant disruptions started with the global pandemic in 2020 and have continued due to ongoing lockdowns, natural disasters and geopolitical uncertainties.
Although McKinsey and Company found that 93 percent of organizations are working to make their supply chains more flexible, agile, and resilient,1 the World Economic Forum2 learned that only 12% of companies are sufficiently prepared for global supply chain disruptions.
To ensure critical supply, address disruptions before they can occur, reduce supplier spend and support sustainability targets, organizations need to improve collaboration and communication with their supplier data and network. This approach requires a single, trusted, 360-degree view based on full visibility into a complete and up-to-date supplier profile, along with automated workflows for faster onboarding.
However, trusted supplier insights are often difficult to obtain due to data that is incomplete, outdated, duplicated and scattered across multiple siloed systems. The reality is that supply chain and procurement executives are often limited in their ability to strategically manage supplier relationships due to the following issues:
1. Limited Supply Chain Visibility
A major reason that procurement and supply chain executives are unable to ensure supply chain continuity and manage suppliers and the products they deliver effectively and strategically is their limited visibility into the supply chain. According to the latest Deloitte Global CPO Study,3 only 15% of Chief Procurement Officers (CPOs) have visibility into tier-2 suppliers or beyond. Limited visibility is related to their supplier data and their understanding of the full supplier network, since supplier data is typically fragmented, siloed and of insufficient quality. This often results in:
- Lack of holistic view of supplier spends, which limits the ability to reduce supplier costs
- Limited ability to monitor the performance of suppliers, analyze the supplier risk, verify sustainability or monitor compliance
- Ineffective or insufficient supplier relationship management and supplier communication, frequently due to supplier data that is outdated, incomplete or wrong
- Limited visibility into relationships between suppliers and the services or products they provide
2. Ineffective and Slow Supplier Relationship Management
Without automated and standardized supplier relationship management workflows, procurement and supply chain leaders will spend too much time inefficiently managing suppliers’ lifecycles and information, exchanging emails and Excel spreadsheets:
- Slow internal processes and workflows, such as when onboarding and managing suppliers, inhibits the ability to meet company objectives
- Inability to quickly identify alternate suppliers to avoid supply chain disruptions and to enhance supply chain diversification
Understanding their supplier network and building strong supplier relationships is critical for organizations to get products and services delivered in the best possible quantity and timeliness, which is ultimately a prerequisite to ensuring a good customer experience. At the same time, organizations need to be more agile and flexible and adapt to market volatility and fluctuations in customer demand.
Supplier 360 SaaS — the Intelligent, Cloud-Native Solution Designed for the Global, Modern Enterprise
This week at Informatica World 2022 in Las Vegas, we announced Informatica® Supplier 360 SaaS, a cloud-native solution to strategically and centrally master and govern supplier information across the enterprise. Supplier 360 SaaS is a modern, intelligent, all-in-one supplier information management solution designed to help you build and maintain strong relationships with your suppliers. By improving the way you interact with your suppliers, Supplier 360 SaaS can help you obtain the best possible result in terms of quality, quantity, on-time delivery of your supplies, supplier-spend, compliance, risk reduction, diversity or sustainability.
Supplier 360 SaaS offers organizations a new way to understand, manage and gain better visibility into their supplier relationships to ensure they reduce operational and procurement costs, decrease inefficiencies and speed up time to market.
To help organizations manage their suppliers better, Supplier 360 is designed to:
- Streamline supplier collaboration and interaction thanks to trusted, up-to-date and complete data and automated workflows
- Improve supply chain continuity by allowing quicker identification of alternate suppliers and enhance supply chain diversification
- Improve supply chain visibility across tier-1, tier-2, and tier-3 suppliers
- Access supplier spend and help negotiate more favorable corporate discounts
- Improve supply chain agility and enable operational efficiencies with faster supplier onboarding
- Prevent supplier risk by monitoring supplier performance, automated risk assessment and compliance
- Ensure suppliers’ support and adhere to sustainability standards
- Access a holistic view of supplier, product and customer master data
Leveraging the flexibility and agility of cloud technologies, Supplier 360 SaaS delivers supplier data that’s trusted, complete, consistent and governed. The solution consists of:
- An easy-to-use, configurable, business-friendly user interface that makes it easy to explore, visualize and steward master data in a secure and appropriate manner
- Automated workflows to help you quickly onboard and approve new suppliers
- Out-of-the-box user interfaces that allow rapid application configuration for any industry
- Built-in smarts and orchestration with AI-driven data matching and smart fields
- Embedded data integration at any latency with Informatica’s best-in-class iPaaS capabilities
- Flexible and modular microservices architecture for scalability and upgradeability
To learn more, register for Meet the Experts: Supplier 360 SaaS webinar, or download the Supplier 360 SaaS Data Sheet.
1 McKinsey and Company, How COVID-19 is Reshaping Supply Chains, Knut Alicke, Ed Barriball, and Vera Trautwein, November 23, 2021: https://www.mckinsey.com/business-functions/operations/our-insights/how-covid-19-is-reshaping-supply-chains
2World Economic Forum in Collaboration with Kearney white paper, “The Resiliency Compass: Navigating Global Value Chain Disruption in an Age of Uncertainty”: https://www3.weforum.org/docs/WEF_Navigating_Global_Value_Chains_Disruptions_2021.pdf
3Deloitte Global CPO Survey 2021: https://www2.deloitte.com/de/de/pages/enterprise-performance/articles/global-chief-procurement-officer-survey-2021.html
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