PRINCETON, NJ December 4, 2014 -Zycus, a world leader in Procurement Technology solutions across the source-to-pay cycle, announced today that an aerospace, defense, and sporting goods company is deploying its Supplier Performance Management (SPM) Solution.
Headquartered in Virginia, the company is a supplier of aerospace and defense products to the U.S. government and its allies, and to their contractors. With a well structured system of supplier Key Performance Indicators (KPIs) and scorecards already in place, the company was looking for a technology partner to model its existing system and enable automated feeding of performance data from multiple source systems and locations, KPI calculation, weighted KPI rollup and supplier scorecard generation.
“Through a proof of concept, Zycus demonstrated that their SPM Solution can be used to precisely model the processes and systems we already have in place for supplier performance tracking and assessment,” says the program team leader. “By automating data aggregation, KPI calculation, scorecard generation and performance alert processes, we will enable our strategic procurement talent to focus on identifying, managing and mitigating supply-related risk and taking systematic approaches to driving improvement in supplier performance over the longer term. Efficiency gains will make it cost effective for us to routinely measure and manage more suppliers in our system, while workflow, survey and collaboration capabilities built into the Zycus solution will enable us to solicit and account for more qualitative measures of supplier performance in addition to quantitative metrics such as supplier on-time delivery and quality performance.”
“Through a proof of concept, Zycus demonstrated that their SPM Solution can be used to precisely model the processes and systems we already have in place for supplier performance tracking and assessment,” says the program team leader.
“In our many years of observing and interacting with procurement professionals around the globe,” says Zycus CEO and founder Aatish Dedhia, “we concluded that a one-size-fits-all solution would never work for Supplier Performance Management. Procurement professionals will always want flexibility to: design unique KPIs for different spend categories; adjust weighting and alert signalling on various KPIs as market conditions and/or corporate strategies change over time, and continually raise their standards for supplier performance. We designed our solution to allow for all that needed flexibility and are very much looking forward to seeing what this new customer will do and accomplish with our solution for supplier performance management.”
Manager- Public Relations, Zycus Inc.
Direct: 1 866 563 9219