Supplier Management
Visibility and Control Over Your Suppliers and Inventory
Your supply chain does not stop at your delivery docks and neither should your ERP system. To synchronize supply with demand, you must pass forecast and order information on to your suppliers, strengthen and automate business processes, and coordinate the complex flow of materials from suppliers to your facilities.
HoneycombERP® Supplier Management business benefits include:
- Reduced inventory levels and costs
- Lowered procurement costs through aggregated purchases and negotiated contracts
- Automated procurement processes
- Improved responsiveness by compressing lead times
HoneycombERP® Supplier Management helps you to manage your suppliers, control inventory levels, and improve supplier relationships. The solution supports the entire procurement process including developing and executing supplier contracts, managing purchase orders, coordinating supplier shipments, and executing outsourcing strategies. HoneycombERP® Supplier Management provides you with visibility and control over the financial impact of your purchasing decisions and supports a wide range of procurement strategies including centralized/decentralized and global supplier networks.
HoneycombERP® Supplier Management helps control inventory levels and match supply with demand, by negotiating contracts with committed pricing and flexible delivery schedules. The solution balances purchases across multiple suppliers and tracks order status and supplier progress against contracts.
The solution also allows you to analyze supplier performance for cost, quality, and on-time delivery so you can continually improve your performance. In addition, HoneycombERP® supports your outsourced manufacturing initiatives, which enables you to control supplier inventory, including consigned inventory, as if they were located in your own facilities.
The Newest Addition to HoneycombERP® Supplier Management: The Supplier Portal.
Many supply chains do not perform as expected because manufacturers and their suppliers are disconnected. Changes in demand are slow to filter down from manufacturers and changes in supply are slow to percolate up from suppliers.
The result is a supply chain disaster: manufacturers are forced to expedite supply orders and carry excess inventory to meet promised delivery dates; suppliers constantly struggle to adjust their production to hit manufacturer’s changing demand.
HoneycombERP® Supplier Portal is a real-time, browser-based solution that enables manufacturers to meet customer demand more effectively and reduce costs by improving the level of collaboration, information visibility, and communication with suppliers. The portal provides manufacturers and suppliers with a unified, up-to-the-second view of critical order and material management activities to ensure their entire extended supply chain is working off of the very best possible information.
Supplier Registration
Supplier registration is the process of collecting key information from outside supplier of goods and services and entering that information into a system to manage the relationship. Registration is used as a threshold requirement to separate vendors who are eligible suppliers and those who are not. Suppliers are an integral link in the supply chain and require management. As an outside party, a vendor has to be vetted to establish qualifications and experience before he can be considered a reliable supplier.
HoneycombERP® Supplier Management business benefits include:
- General Information of Supplier
- Contact Information
- Supplier Types
- Payment Methods
Supplier Categories
Suppliers of a similar type can be grouped together using Supplier Categories. All Suppliers of the same Category can be given the same default Creditor Account, saving you the work of having to specify this for all Suppliers individually.
In HoneycombERP® you can create as many categories as you may have required for your organization in simple few simple steps with complete reporting capability based on the supplier categories.
Engagement Terms
In today’s global business environment, success depends more than ever on supplier relationships: how effectively companies select their suppliers and then manage, measure, and grow those relationships. Indeed, the bond between buyers and suppliers is so important that “relationship” may be too weak a word; the successful ones are more like collaborative partnerships in which suppliers help their customers achieve their business objectives.
Thus, to achieve a collaborative partnership you must first design (or redesign) your engagement terms with suppliers to build on your strengths and achieve your business objectives.
HoneycombERP® helps you to manage your engagement terms with your suppliers with an option to change or change any engagement term as may be required.
Association of Items & Prices with Supplier
Association of items & prices with supplier is a process in which certain items and price levels are linked with supplier. Once you have established the relationship between items, prices and suppliers then in subsequent transitions on selection of supplier items and its prices associated with it are automatically appears which saves time.
HoneycombERP® provides you to manage your engagement terms with your suppliers with an option to change or update any engagement term as may be required.
Payment /Delivery Terms
HoneycombERP® enables you to associate payment delivery terms with purchase orders and then calculate payments carrying the specified order/shipment.
Lead Times
Order deliveries always require some time to process order. You need to keep track of lead times in order delivery for a smooth processing. HoneycombERP® helps you manage lead times in order processing and keep you informed of the order status with respect to lead time calculations.
Performance Monitoring
The Accurate and up-to-date supplier information for all your trading partnerships, readily accessible across your organization. That’s what you need to manage supplier performance and risk. The thing is, without the help of technology you’ll have a hard time getting your hands on it. Because you’re managing hundreds – if not thousands – of relationships, with new suppliers in the Networked Economy coming online every day.
HoneycombERP® can help:
- View up-to-date profiles of all your suppliers
- Monitor and manage supplier performance
- Assess compliance and manage supply risk
- Quickly identify and assess new sources of supply
- Easily on-board new suppliers
Evaluation & Grading
You can grade material according to the supplier history. HoneycombERP®’s evaluation and grading feature helps you record history of suppliers and materials provided them. On the basis of grading criteria, you can save your time assessing received material and directly storing it into your stores. Evaluation and grading can later on be done and updated during quality check of material.