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Supplier management is a crucial element in a company's operational and financial success.
When carried out in an organized manner, it offers numerous advantages, making operating costs more in line with the budget. In this article, we'll show you how efficient and technological supplier management can transform your company.
Supplier Registration, Analysis and Approval
Registering your suppliers with detailed information is the first step towards effective negotiation. By carrying out a complete registration that includes an analysis of your suppliers' fiscal, financial and reputational situation, you minimize risks and guarantee reliability in the delivery of products and services.
Checking the suitability of suppliers not only eliminates risks, but also builds a solid foundation for mature and strategic management. It is essential to know who your suppliers are and ensure that they comply with your company's legal and operational requirements.
Supplier contract management
One of the main complaints in the supplier management process is the bureaucracy involved in reviewing contracts. The constant intervention of lawyers can make the process slow and costly. The solution? The use of standard drafts.
Standardized contractual document templates make it possible to establish minimum conditions that suppliers must accept, speeding up the formalization of partnerships. In addition, technology can help to automatically issue these contracts after approval of proposals, along with purchase orders, ensuring that the agreed values are met.
Supplier payment process
Maintaining strict control over the payment process without overdoing the bureaucracy is vital. A transparent process that avoids sending invoices by email can significantly optimize the operation. Providing a portal where suppliers can send tax documents or request initial authorizations eliminates the backlog of emails and facilitates approval.
Managing payments in a predictable way improves the relationship with suppliers, turning it into a partnership of trust. Everyone involved in the process gains from transparency and efficiency.
Critical points in supplier management
1 - Supplier registration: Record all supplier information in detail.
2 - Verification of suitability: Make sure suppliers are reliable.
3 - Approval: Classify suppliers as reliable.
4 - Request for Quotation: Generate requests for quotation for registered suppliers.
5 - Choice of Supplier: Receive quotes and choose the best supplier.
6 - Purchase Order: Send purchase or service orders.
7 - Pre-Invoice: Receive and authorize the issue of invoices.
8 - Invoice: Search for and process invoices.
9 - Payment: Track payments to suppliers.
10 - Transparency: Maintain a transparent supplier management process.
Technology as an ally
With the right technology, it is possible to generate substantial savings, increasing profitability at the end of the year. Supplier management tools can automate processes, reduce errors and provide a clear, real-time view of all the steps involved, from registration to payment.
Adopting efficient and technological supplier management not only improves the relationship with your partners, but also optimizes your company's resources, ensuring sustainable growth in line with best market practices.