Risky supply chains drive the need for ever-smarter supplier intelligence and information management systems
Supplier intelligence and information management software tools are part of a growing trend toward lowering supplier risk and increasing visibility into suppliers in a global supply chain. Supplier intelligence solutions can gather and cleanse data from multiple disparate systems across an organization to create an in-depth picture of suppliers, and maturing analytics tools can help gauge risk, develop sourcing strategies. Supplier intelligence lets manufacturers look at current and historical information to navigate future trends.
Supplier information management (SIM) is increasingly integrated into other supplier-related systems and features, such as performance management and corrective action plan management. SIM can let organizations identify, assess and prioritize new suppliers, as well as help with onboarding. Emerging supplier networks may integrate with SIM for discovery and management. Supplier information management can track supplier activity through a variety of systems and documents, and manages data collection and workflow too.
Best-in-Class Supplier Intelligence and Information Management Features:
- Can manage discovery, assessment, onboarding and ongoing management of suppliers
- Offers a comprehensive view of supplier activity, including contracts, quotes, performance, profile data, and more
- Provides the appropriate data and reports for different stakeholders across and organization
Top Considerations before Buying Supplier Intelligence and Information Management Products:
Trends driving the adoption of supplier intelligence and information management products include regulatory oversight, unstable supply markets and increased outsourcing. Software in the area is responding with increased sophistication in using market intelligence for supplier applications. Software should continue to mature, with features that link it to growing supplier networks for increased insight, as well as added risk management tools. As the need for procurement to be linked to the entire enterprise grows, supplier intelligence and information management tools should integrate further into existing systems.
Key Products:
1. Panjiva, Inc. creates technology to leverage a wide variety of data sources to identify, evaluate and keep tabs on suppliers around the globe. Their Supplier Intelligence Platform allows users to create supplier shortlists quickly, conduct background checks on potential suppliers, keep tabs on competitor action with business tracking, and stay up to date on what existing suppliers are doing. Panjiva aims to reduce costs and risks while making better use of manufacturers’ time.
2. Actio provides manufacturers and suppliers with on-demand, centralized supply chain materials management, down to the substance level. Actio’s SaaS solution creates a single repository of substance data, as well as provides a collaborative infrastructure for suppliers, internal stakeholders and customers. Their Gatekeeper software handles material purchasing and is useful for managing lean or Six Sigma initiatives. BOMtracker manages tracking of bills of material.
3. Apprise Software provides ERP and supply chain management software and services for consumer goods distributors. Their Supplier Production Monitoring solution allows users to consolidate all production data and activities in one central repository, so intelligence and tasks can be viewed, shared, imported, triggered and tracked. Apprise Manufacturing Solutions manages inventory control, production scheduling and more, tying demand resource planning and manufacturing resource planning requirements with an organization’s production plan
4. Austin-Tetra provides outsourced supplier and customer data management services. Their Supplier Data Management solution creates a consolidated supply base view from fragmented, disparate and inconsistent data silos. Supplier Data Management solutions include spend management, supplier rationalization and enrichment and supplier information management. Features offered include data quality services, knowledge enrichment and process improvement.
5. Enigma offers a product suite to manage maintenance, repair and overhaul (MRO) operations and aftermarket sales and service organizations. Their products integrate with product lifecycle management, supply chain management, enterprise resource planning and other enterprise applications to provide an encyclopedia of service, parts and diagnostic information. Their InService Job Card Generator helps technicians complete services more quickly. Enigma’s SaaS electronic parts catalog (EPC) delivers OEM service and parts information to dealers, customers and others.
Supplier Intelligence and Information Management
Definition: Supplier intelligence is the purposeful, coordinated and ethical monitoring of strategic suppliers within a specific marketplace, or an enterprise-wide view of a company’s relationships with its suppliers and the services or commodities they provide. Supplier information management software manages any number of a range of tasks related to a manufacturer’s business with its supply organizations.
