PRINCETON, N.J., July 17, 2012 - While it is certainly possible to improve business performance by shifting costs and risks to suppliers, leading procurement executives understand that, to achieve long-term global competitiveness for their companies, they need to excel at discovering, partnering and collaborating with the most innovative, reliable and competitive suppliers in the world. The newly enhanced Zycus Supplier Management Solution is about making all these things happen in highly efficient ways.
The enhanced Zycus automation solution provides structured means for:
- Empowering suppliers to introduce themselves and their capabilities to the right people within a corporate organization,
- Qualifying new suppliers and preparing them for efficient bidding, contracting, order and payment interactions,
- Keeping supplier information accurate, complete and up-to-date at all times,
- Controlling and maintaining clean, unduplicated supplier master records,
- Defining parameters for supplier performance,
- Managing supplier performance benchmarks proactively over time,
- Obtaining, organizing and rigorously combining input on supplier performance from multiple sources and formats,
- Measuring, ranking and reporting on supplier performance,
- Involving suppliers in conversations about their performance,
- Identifying performance-based supply risks and improvement opportunities, and
- Collaborating with suppliers to achieve mutually beneficial process and business performance improvements.
"Efficient supplier information and performance management are longstanding pain points for procurement," observes Anurag Dixit, Vice President of Global Marketing for Zycus. "Our enhanced Supplier Management Solution is unique in that it provides a single comprehensive platform for easing, automating and accelerating both sets of critical procurement activities."
Standard features of the Zycus Supplier Management Solution include a collaborative platform for designing supplier key performance indicators (KPIs), capturing data inputs both automatically and through stakeholder surveys, setting and managing supplier performance benchmarks and publishing balanced supplier scorecards. Advanced features of the solution consolidate on a single platform, under one governance process, all relevant information needed to define and conduct commercial relationships with suppliers and to stay current on suppliers’ capabilities and innovation roadmaps.
"To obtain the most competitive, consistent performance from the best suppliers in the world, you need to be a great customer. You need to be fair. You need to pay on time. You need to give suppliers plenty of opportunities to grow and be profitable. And you need to empower suppliers to identify and correct problems quickly if and when they arise," Dixit says. "Our enhanced Supplier Management Solution is all about making these things happen."
Manager - Public Relations & Analyst Relations, Zycus Inc.
Direct: 1 866 563 9219