A Master Data Management system with a Supplier or Vendor Portal serves as a central repository for data about suppliers, as well as the data that suppliers provide.
Source systems across the business, and potentially organizational lines, are integrated to deliver a golden record of supplier information. Through a central repository, relationships can be detected, enhanced through third-party data sources, and integrated into critical applications and workflows. This enables enterprises to fully understand the supply chain, strengthen collaboration, and improve product information across their channels.
SUPPLIER DATA BENEFITS
- Identify and reconcile partners from multiple lines of business, plus recognize parent relationship hierarchies with existing partners.
- Improve vetting and onboarding with new and potential suppliers, and flag suppliers that may have been previously restricted.
- Collaborate with suppliers to efficiently onboard new product details and make changes to existing products in a standardized format.
- Track supplier performance and commitments with supplier scorecards.
- Reduce data inconsistencies through data governance measures, workflows, and business rules.