Supplier Management

Supplier Management involves a structured set of activities centered around the assessment, choice, enhancement, and strategic integration of suppliers across the entire value chain. The core objective of supplier management is to systematically address weaknesses by collaborating with appropriate suppliers, identifying areas for improvement, and optimizing key factors such as quality, delivery times, and costs.

Central to effective supplier management is the practice of Supplier Performance Management, which relies on a data-driven approach. This crucial facet ensures that suppliers adhere to contractual agreements and meet the established performance standards. By employing performance metrics and analytics, organizations can continually evaluate supplier performance, fostering a dynamic and mutually beneficial relationship with suppliers.

Learn more about Ivalua's Supplier Management Solutions.