Supplier Lifecycle Management
Stay ahead in volatile markets by qualifying, classifying and managing your suppliers with confidence.
What is supplier lifecycle management?
Supplier lifecycle management refers to the processes needed for effectively managing end-to-end relationships with suppliers. It includes qualifying and registering potential partners, approving, classifying and onboarding suppliers and monitoring performance.
Better performance with Supplier Lifecycle Management software
- In today’s volatile and complex environment, procurement teams must actively manage and continuously adapt their supplier base to achieve their goals and reduce risks. Identifying, qualifying and classifying suppliers is essential, but is often resource-intensive and difficult to align across business units.
Managing supplier qualifications across commodities, regions and divisions adds complexity. Fragmented and inadequate IT systems cause data inconsistencies, greater manual effort and inefficient collaboration across departments, while limiting strategic alignment.
Our AI-driven Supplier Lifecycle Management solution streamlines qualification and risk assessment through automation and predefined rules. This ensures that only the right suppliers enter and stay in your supply chain.
Your benefits of
Supplier Lifecycle Management
Why should you buy our solution?
Our AI-driven Supplier Lifecycle Management solution streamlines and automates supplier qualification and risk assessment, so you work only with the right suppliers across all regions and divisions. The solution integrates all relevant departments and provides consistent, real-time data. You can make faster, compliant decisions, align sourcing strategies and streamline procurement processes.
Key features at a glance
- All departments involved – procurement, quality, risk management and ESG – are integrated into the process via clearly assigned roles
- Approval and classification are controlled. Only authorized stakeholders may make decisions
- All qualification results and supplier classifications are stored centrally and uniformly, providing the basis for procurement systems
- Sourcing is guided according to strategic categories (e.g. standard, preferred) and event-driven statuses (e.g. new business on hold, capacity on hold)
Are you ready to improve your supplier lifecycle management?
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