Supplier performance improvement and cost management can transform supply chain
Leveraging digital communication tools, augmented reality, video surveillance and AI-driven solutions can bring exponential value not just in supply chain management, but also in driving long-term business growth.
Digital solutions can play a vital role in:
Supplier quality management: Involves checks and processes at various stages, including:
- Supplier onboarding
- Ongoing quality assurance
- Supplier inspection
- Supplier audit
Supplier performance management: Monitors and measures performance against the targets set in quality, cost, delivery and service.
Strategic cost management: Validates supplier costing using cost modeling helps in monitoring costs and prevents surprises at a later stage.