Procurement Software for Electronic Industry
Flexibility is the watchword for electronics companies as disruptive manufacturing technologies, shifting economies of both location and scale, and global consumer demand trends continue to drive radical changes in how products are designed, built and brought to market.
Hardened historic rules of manufacturing are being overturned and competitive barriers to market entry are falling. To compete, procurement specialists in the electronics industry need to think differently about how they build and manage supply networks. The need of the hour is to gain real-time, granular and universal visibility throughout global supply networks in order to:
- Promote supply-network flexibility and rapid adaptability.
- Capture innovation (and discover new competition) as it emerges within the supply base.
- Support ongoing transitions to emerging manufacturing models – for example moving from globalization to localization, from standardization to customization, and so forth.
Intelligent engines for supplier discovery, negotiation and contracting, supplier relationship and performance management will empower procurement specialists to adapt rapidly to shifting requirements of scale, volume, specialization and location in order to help their companies compete successfully in the new competitive landscape.
Electronic Industry Challenges
As supply networks become more location elastic, bringing manufacturing closer to consumers, global trade flows are expected to change dramatically.
Key challenges ahead for procurement teams include:
- Supporting old-new hybrid production models as disruptive manufacturing technologies continue to evolve and mature.
- Reengineering supply networks to support greater on-demand manufacturing, shorter development and product lifecycles and rising consumer influence over product design and production planning.
- Continuing to meet rigorous regulatory and environmental standards, including documentation obligations.
- Exploiting emerging trends – such as open source electronics – to reduce both R&D costs and time to market.
How We Can Help
Our strategic end-to-end procurement suite can help you influence sourcing, contracting and spend decision making.
It gives you the visibility, speed and flexibility needed to balance the demands of maintaining shorter-term business viability and profitability against requirements for ensuring longer-term survival and future earnings growth.
- Use SPEND ANALYSIS to create real-time visibility - at virtually any level of granularity - into both capital and operational spending and to support long-term strategic planning and optimal supplier-network design. Read More
- Use our secure and fully automated STRATEGIC SOURCING solution to discover and capture supplier innovation worldwide and to support development of more localized, flexible supply chains. Read More
- Use CONTRACT MANAGEMENT to move rapidly in support of shrinking product-development cycles, creative licensing, intellectual property sharing, services outsourcing and so forth, while also ensuring appropriate risk management, regulatory compliance and full realization of benefits negotiated and built into commercial terms and conditions. Read More
- Use our SUPPLIER MANAGEMENT solution to systematically and consistently measure suppliers’ capabilities and capacities to deliver goods and services. Utilize supplier development modules to ensure critical suppliers continue to improve their competencies and to adopt innovative manufacturing technologies on pace with their evolving capacities for commercialization, cost, scale and other efficiencies. Read More
- Use our integrated FINANCIAL SAVINGS MANAGEMENT tool to define how savings and other procurement-driven business performance improvements are identified, validated, implemented, reported and distributed to Strategic Business Units (SBUs) and P&Ls. Read More
- Promote cost efficiency, speed, cultural change management and long-term strategy execution with our next-generation PROCURE-TO-PAY solution. Enable real-time monitoring of cash flows and budgets and utilize a Guided Procurement System (GPS) concept to drive internal mindset changes and assure that every spending decision supports strategic imperatives throughout a critical industry-transition period. Read More