“Capturing all supplier information in the same format takes us a tremendous amount of time.”
“I can’t keep track of all of my suppliers’ raw material changes.”
“My suppliers never update documents in time.”
Supplier relationship management is critical in NPD projects
Supplier Relationship Management (SRM) is an approach and a process to engage with your suppliers and integrate them in your product development chain. An SRM strategy aims to optimize and streamline all interactions with the organizations that supply goods and/or services to the company.
Supplier Relationship Management became a major concern for CPG businesses, as the market compels them to innovate more and faster, while pressuring the prices. Controlling and sharing information with key stakeholders is challenging. Therefore, a successful SRM strategy aligns a company and their suppliers to ensure that information, products, and services flow smoothly through the design and supply chains.
This SRM process is also essential to leverage the supplier capabilities. Having a consolidated and deep thought Supplier Relationship Management approach supported by the right tools will lay out clear expectations for everyone, encourage your suppliers to be more proactive, and make them accountable for their actions.
However, SRM is not just a procurement function. Collaboration and alignment with other business units is vital. Efficient external and internal collaborations granting a timely access to accurate information will create long term value. A successful supplier relationship management software can help smooth pressures along the product lifecycle. A strong partnership brings products to market faster, reduce costs, increases sales and market share, while maximizing ROI for both parties.
Seamlessly integrate supplier relationship management to your design chain
Aptean Food and Beverage PLM Lascom Edition, allows CPG organizations to quickly implement an efficient SRM approach. The software offers smooth and effective processes and workflows to better manage supplier collaboration. Collaboration means developing, sharing, and updating new and existing product information through a coherent and structured process. Every participant involved must be able to find the right information at the right time.
A web-based supplier portal provides central access to and control of all relevant information such as supplier’s specifications, proposals, etc. Using this fast and secure portal, suppliers can directly input their products’ specifications. It enforces each stakeholder’s accountability. For instance, suppliers and partners are responsible to populate data, like the raw material specifications and packaging information, and to maintain their accuracy. They are also responsible of updating key information such as certificates renewal. Once this information is captured, the supplier portal helps businesses pinpoint delays on updates and missing information. It is a faster way to screen, select suppliers and shorten cross-departmental approvals.
Lascom fom Aptean Product Lifecycle Management (PLM) software includes workflows and processes features streamlining any communication between a company and their suppliers. By implementing a solution that focuses on opening innovation processes, setting up structured business processes and increasing collaboration with suppliers, the company can consolidate information and easily manage their product portfolio.
Lascom from Aptean software enhances collaboration while protecting proprietary information.
Supplier Relationship Management: what our customers say!
Supplier reltionship management:
The PLM technology core element is to provide a unique and central place to manage all product, project and packaging related specifications. This ensures a single version of the truth.
Supplier information portal
Centralize, organize, track, analyze and keep up-to-date raw material and packaging supplier information: contact info, list of locations, ratings, audits results and so on.
Provide your suppliers a dedicate web-based portal so they can autonomously access your database and create and upload their new raw material or packaging specifications and documents.
Users are able to send messages to each other, attachments for approval or feedback, or leave comments on artworks or formula prototypes, for instance.
Aptean Food and Beverage PLM Lascom Edition allows you to model your own processes to set up and streamline the entire flow of information.
Aptean Food and Beverage PLM Lascom Edition creates a collaborative and dynamic framework with task assignments, notifications, automated reminders, and milestone alerts.