As we’ve mentioned before, Suuchi Inc. was the first customer of the GRID to ensure that we developed our software as a solution to real pain points across the supply chain. While we’ve built our global sourcing network module, we witnessed firsthand how difficult vendor management was for our sourcing team when it was done manually over phone calls and emails. It created a silo around the sourcing team outside of the GRID and drained their resources that they could’ve used elsewhere. With that in mind, we built our vendor management module to simplify the process for our customers and ourselves.
The GRID, at its core, is an end-to-end supply chain management platform. However, our modules create more in-depth insights into specific processes. When we first looked at vendor management from a roadmap perspective, we wanted it to be a tool that every participant across the supply chain could use: business executives, sourcing teams, agents, factory managers, and so on. Like the rest of the GRID, it needed to be intuitive enough a child could use it, but still solve the pain points of sourcing teams and provide valuable data.
As the vendor management module stands today, it allows businesses to oversee their entire existing network— that can also integrate with our global sourcing network— across factories, vendors, and raw material providers. Every partner can then be scored based on compliance, pricing, turnaround times, capacity, and other criteria to make smarter factory assignments over time. With all of this data compiled in one platform, businesses can eliminate hours of work in factory assignments.
Additionally, businesses streamline the compliance process through the GRID. Not only can you score each partner, but all certifications, paperwork, contracts, and files can be uploaded to the GRID and tagged to each participant. The GRID then creates a single-source-of-truth to find all the information and eliminates hours of back-and-forth to get up-to-date certifications or searching through files to recover old data.
This level of streamlining allows your sourcing team to optimize their job functions and provide a new level of impact on the business. Based on the data your team can now collect, there will be a positive impact on the company’s bottom line. With smarter assignments, time-to-market can increase to stay ahead of your competition for your business to remain relevant in today’s fast-moving market. Additionally, margins will improve with optimized vendor selection for the best price point or which vendors can be flexible on batch size to accurately fit your needs.
It’s never been as important to optimize all aspects of the supply chain not only to cut costs but to improve overall operations. By taking the first step in digitizing the entire supply chain, your company can identify the areas that need the most help, whether it’s vendor management or another process. Contact our team today to learn why the GRID is trusted by the top supply chain leaders to create more efficient operations.
Schedule a demo of the GRID today to simplify your vendor management process.
Written by Lizzie Sessa and Irina Kapetanakis
