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Supplier Relationship Management - supply chain and purchase order collaboration
SRM is a module from TAKE Supply Chain’s OneSCM platform. It helps businesses effectively automate and achieve strategic benefits from their procure-to-pay cycles, including the management of all interaction with suppliers and freight-forwarders. It provides suppliers a customer-facing solution that enables transactions electronically with their customers as well as to manage the entire business process from RFQs to invoicing.
SRM provides the following business benefits:
- Introducing electronic communication with suppliers eliminates manual processing of RFQs and POs, manual follow-ups, emailing to multiple recipients and re-entry of responses from suppliers into the back-end system
- Providing the value-added functionality buyers need to scale their operations to handle more with less as well as to ensure compliance with policies
- Incorporating the most advanced best practices in procurement, planning and materials management
- Managing and processing RFQs and POs from customers in the format mandated by the customer
- Submitting electronic invoices in customer-mandated formats, irrespective of the number of formats and protocols required across the customer base
- Transmitting advanced ship notices (ASNs) and proactive delay notifications
Key Capabilities for the Buyer:
SRM provides the value-added functionality buyers need to scale their operations to handle more with less as well as to ensure compliance with your policies. It incorporates the most advanced best practices in procurement, planning and materials management.
Key capabilities include:
- Strategic/long term agreements
- Integration between divisions
- Auto follow-up/reminders to suppliers
- Auto-expedite
- Supplier managed inventory and replenishment/Kanban
- “PO-Less” procurement
- Automated attachments and flow-down notes to suppliers
- 100% supplier integration
- Data normalization
- Consolidation, allocation, data translation
- Vendor managed procurement
- Accounts Payable Automation
- Compliance labeling
- Cross-location stock visibility (XSV)
Key Capabilities for the Supplier:
SRM provides a customer-facing solution that enables suppliers to transact electronically with their customers as well as to manage the entire business process from RFQs to invoicing.
Key capabilities include:
- Submitting invoices to each customer in their mandated formats and with mandated attachments; seamless integration with the back-end system to pick up invoices
- Receiving and responding to several key transactions in the order processing and fulfillment cycle: RFQ/response, PO/acknowledgment, delivery order, shipment confirmation and ASN, sales order changes and goods receipt (at customer end)
- Interfacing with tracking systems of standard carriers and freight-forwarders
- Providing a Web front to the order processing and fulfillment system
Customer Invoicing
Suppliers can submit invoices out-of-the-box to their customers or to standard eInvoicing portals they may use in the customer/portal mandated formats and with the relevant attachments.
- Submit e-invoices directly to customers
- Submit through portals to their member customers
- Supports industry standards like PIDX and RNIF 2.0 for invoice processing and other business functions
Once implemented, the solution picks up invoices and any relevant attachments from the back-end accounting/billing system. Depending on the customer destination for the invoice, the invoice is transformed into the appropriate protocol and format and then submitted to the customer. Any response from the customer is also delivered back to the originator.