At the heart of supply chain management
An efficient supplier register is an essential tool for a company's sourcing function and supports achieving organization's goals. The supplier register is not just a static database of information, but the heart that receives and feeds vital information to all parts of the sourcing and procurement process.
Regardless of which Noventia tools your sourcing team uses, the supplier register enables up-to-date, consistent and reliable information that is available in real time.
How does it work?
Noventia's supplier register is designed to meet the needs of modern sourcing. Noventia's supplier register makes it easy to maintain and categorize supplier information. New suppliers can be added by sourcing team or suppliers can be directed to complete a registration form.
Basic supplier information can be maintained both by sourcing team users and through the supplier portal, where suppliers can update their information themselves.
The basic supplier information can also be enriched with information from different sources
- Through Noventia tools, a lot of information is gathered around the suppliers. Various questionnaires can be used to determine supplier capabilities and information on supplier performance can be shared.
- Data from external data sources (such as supplier credit information, sanctions information, risk ratings etc.) can be imported through integrations. This ensures that the suppliers meet both the legal requirements and the criteria set by the sourcing team.
The companies in the supplier register can be categorized according to the needs of the sourcing team. This enables efficient searches from a large supplier register.
Noventia's supplier register also enables the supplier life cycle management. A supplier can move from one stage to another – for example, from potential supplier to partner – based on a decision by the sourcing manager or based on the data available.
Why is it so good?
By centralizing critical supplier information in one easy-to-manage system, you can make more effective decisions and achieve your strategic goals. For example, if a certain level of sustainability is required, it is easy to see from the supplier register which suppliers meet the set criteria.
Integrations with other systems improve the availability and quality of information, which in turn improves the efficiency of the whole organization. Noventia's supplier register can also be integrated further, for example into the ERP or reporting solution.
Efficient supplier management not only saves time and resources for the sourcing team, but also improves supplier relationships. Communication between sourcing and suppliers is smooth and efficient when the right contacts can be easily found.
Suppliers are handled consistently when all information is in one system and the organization follows mutual policies. Development discussions with suppliers can be based on concrete information on supplier performance. This information can also be used to proactively identify risks and ensure continuity of cooperation. In addition, for example, "partner supplier status" can provide a competitive advantage and motivate good cooperation.
Summary
Noventia's supplier register is the key to efficient sourcing. It provides a centralized solution that supports the entire organization and enables information based decision-making throughout the supply chain.
Whether it's identifying new suppliers or managing existing supplier relationships, Noventia's supplier register ensures that the right tools are in place to meet sourcing challenges and achieve business goals.
