August 10, 2021
1. Be strategic about your sourcing
The task of sourcing can be quite staggering. But through digital collaboration with suppliers, you actually source much more efficiently. This can also remove a great deal of stress, creating custom scenarios and leveraging a data-rich environment to help model sourcing solutions. And not only can this help you source more efficiently, but it can also greatly reduce procurement costs by optimizing supplier reliability and helping you get the most from every relationship.
2. Eliminate the administrative overhead
Imagine how much time gets spent planning, managing and executing the myriad of sourcing and supplier related tasks. With a digital supply chain, so many of these time-consuming, yet mission-critical administrative tasks can be automated, freeing up resources for higher-level analysis and decision making. Automating these tasks also goes a long way in reducing errors and mitigating the risks involved in the manual execution of these processes.
3. Open up access to supplier performance metrics
Digital collaboration can empower trading partners to work together on the processes that foster more productive relationships. Insights like real-time data on how often a supplier’s products are meeting specifications can help partners work together towards optimizing quality control. Forging these connections can also increase efficiency, using automation to confirm and validate everything from materials compliance to product quality and beyond.
4. Build a robust carrier database
A digital supply chain will allow you and your supplier partners to collect carrier data in real-time, showing OTIF and other metrics for an unlimited number of carriers around the world. This information could help build powerful partnerships with suppliers and carriers alike, allowing for agile shipping adjustments and providing the valuable information needed to negotiate for the best rates.
5. Access suppliers already in the Elemica Network
Among the most powerful aspects of a digitized and collaborative supply chain are the powerful connections that are already available. Elemica’s customers have access to a vast network that connects a multitude of prominent and innovative companies across the globe. These suppliers are already set up for digital collaboration, allowing your organization to plug into a partnership that will give your supply chain more visibility and resilience across the board. If you’re interested in learning more about how a digital supply chain could help build better supplier relationships, read more about how Elemica Buy™ can help maximize supplier value.