Procurement departments are increasingly being challenged to expand and better understand their supplier communities. While supplier expansion can lead to a more diverse range of potential providers, Procurement teams which are already operating at maximum capacity may shy away from the challenge of vetting, approving and monitoring all of these new suppliers and thus miss significant opportunities.
With BravoAdvantage Supplier Value Management you are able to proactively monitor every relationship by using comprehensive scorecards and advanced risk management techniques to give you the information you need to react quickly to changes before they impact your bottom line. With real-time visibility of every interaction across your entire organization, you can confidently mitigate risk and improve compliance throughout the complete strategic procurement process.
BravoAdvantage Supplier Value Management:
- Supplier onboarding – streamlined assessment process to ensure registered suppliers meet requirements
- Supplier qualification – capability assessment for business principles, category, process and technology.
- Segmentation and risk management – segment your supply base by category, risk and performance management to track supplier performance over time
- Development and innovation – supplier development through improvement action plans
- Supplier 360° end-to-end visibility – supplier information in a single integrated database across the entire procurement proces