Supplier Data Organization

  • Added:
    Nov 14, 2012
  • Article Views:
  • Word Count:

Databases provide a convenient means of storing vast amounts of information, allowing the information to be sorted, searched, viewed, and manipulated according to the business needs and goals. Many companies rely so heavily on the functions of databases that their daily business operations cannot be executed if databases are unavailable, making database management and maintenance a vital component of their business models.

Data is everywhere, and it exists on customers, products, suppliers, employees, you name it. Because data is the lifeblood of an enterprise, companies are looking at new ways to manage information and in the process improve how they run their businesses. Most of them believe in master data management and supplier data management  tools as these are two essential business information. Significant time and capital investment goes into the development of an effective supplier database. It provides the buyer with a recognizable advantage in terms of classification of supplier capabilities, historical performance and the quality of the products provided.

The scope, accuracy and functionality of the supplier database are critical components. Supplier data management is an excellent example of pairing technology improvements with intellectual property to produce an useful, economical support tool that benefits both suppliers and buyers – better pricing, better quality and better sources of supply. This service helps organizations to manage and monitor their supplier data by improving the quality of the data by our cost effective services. Supplier Data Management is not a one-time event. It should be a continuous process of improvement for all.

Chances are one of your suppliers merged, changed its name, or relocated today. Will your company react to the change in all the right places? As you source across multiple business units, locations and systems, how will you cope with duplicate or inaccurate information in a hodgepodge of data sources?
Perhaps you need a better way to manage information about current and prospective suppliers. Supplier information is often distributed in different parts of the organization, at corporate level, division level, site level and most of the time in multiple systems which are not always interconnected, making it almost impossible to have a clear perspective at an aggregate level. Supplier Information Management is all about the "single point of truth", allowing an enterprise to aggregate, collect and maintain the information from all distributed systems within the organization, to offer a consolidated view of supplier data, process status and relationships. This goes beyond traditional master data management systems, which just look at one aspect of maintaining the golden supplier record, to leveraging all information from one place enabling Finance and Sourcing professionals to quickly find insight and opportunities.

Supplier data management  provides comprehensive functionality to collect data from a variety of sources in a variety of areas, such as risk, compliance, performance and CSR and Sustainability, in such a way to leverage data collection efforts across sites, without duplicating what already exists in other systems. By cleansing and enriching your supplier data, supplier data management technique enables you to leverage your buying power and reduce costs.

Author's Profile

Enventure’s services include BOM scrub, obsolescence management tools, supplier data & component obsolescence management, MRO data cleansing, & component engineering.

Please Rate this Article
Poor Excellent