Your vendor management process is too complicated. How can you simplify it with automation?

Automating key vendor tasks can simplify operations. Use automated portals for vendor onboarding, risk assessment, and communications. Centralize contracts and documents with management systems. This streamlines processes improves efficiency, and strengthens supplier relationships.

review and revisit your current process, give a wholistic view. Map your entire process right from vendor onboarding till separation. use Value Stream mapping , Look at number of people involved, number of operations, documentations, TAT for each steps. Nonvalue added activities different tools used or manual process? challenges in current process and possibilities to simplify.

To reduce the complications of the vendor management process through automation, the following may be done: a) Automation of the vendor onboarding process? Manual intervention will come at a later stage only for 'A' class vendors. b) Automation of the demand planning process? c) Automation of the vendor scorecards. d) Automation of follow-up for the POs. e) Automation of "Vendor Satisfaction Survey". f) Do the ABC Analysis of the inventory. Within 'A' class items, do once again ABC analysis. Identify what special features are required for the vendors who supply the 'AA' class materials. Doing automation apart, the appointment of the "Vendor Relationship Managers" (VRMs) for the 'AA' class vendors is also important

First assess the present systems, processes and tools to determine what is important from those processes that are not necessary. Having done this you streamline the process to the important process using change of tools,processes and systems to eliminate unnecessary process. Redefine roles that are really need and use fit-for-purpose tools

I already faced such a messy situation, I did the following, 1- collect and archive vendors' data to my system 2- Review the contract and agreement, especially PT 3- connect the purchasing department with the Vendor Management system to ensure proper Purchase requisitions are asked from the right vendor and why. 4- migrate my system with the vendor ERP so no time-wasting 5- Review and cleanse the list quarterly.

Simplify your vendor management process with automation by choosing the right tool. Look for a solution that centralizes vendor data, automates workflows, and provides real-time analytics. This will streamline communication, reduce manual errors, and increase visibility, enabling more efficient and effective vendor management.

Re-homologation is so last season: reviewing the current internal process with an agile methodology and making it more practical to suppliers and purchasers is basic. Incorporation of tools (SRMs, BI and etc) comes before any kind of automation (those types that requires integrations and so on), you may need to test that SRM before marrying it completely to your supplier base and being so stuck to it that it’s hard review the chosen SRM/system. After having reach a healthy process through new tools/systems, it’s time to automate whatever was not possible before and review process again counting with integrations.

To monitor and access the process of your vendor management requires the use of an effective feedback system. These data can be displayed on automated system and subjected to rigorous stastical analysis to know the validity of the data to make critical decision.

The tools ,processes ,and systems to be used shown be flexible and be able to integrate with other systems It should automate lengthen process to enhance time management. It should be secure and offer simple yet fit for purpose tools that are easily accessible.