3 tips to improve your procurement operations, recording of our latest webinar, and new features on Axya!

?? 3 Steps to improve your procurement operations with effective data management

The weaknesses we have seen most in manufacturing companies are the following:

• Their data is not digitized
• Data entry is manual (which increases the risk of errors and the time required to complete tasks)
• No or little data history
• Information is scattered and remains in silos

In short, data management is disorganized, inefficient, or nonexistent, resulting in the following:

• Lack of visibility and traceability
• No reliable database to move to the next stage of analysis maturity (see?
• Gartner Model below)
• "Blind" or subjective decision-making process
• Waste of time and money

Establishing a database to manage your procurement activities is crucial to evaluate, monitor and prioritize your operations, optimize and make improvements to the processes themselves as well as to the company's internal and external communication, and track the progress of results to?support strategic decision making and forecasting over time.

? 3 recommended steps to effective data management

Step 1: Identify and prioritize the sources of the problems:

• Perform a descriptive assessment using a weighted decision matrix: impacts on human resources, finances, project schedule, etc.
• Get to the source of each problem using the "5 Whys" rule.
• Then prioritize each problem by relative urgency and importance.

Step 2: Implement a reliable data analysis structure

• Collect:?Collect the data and define the key performance indicators for your goals. Your database must be structured, centralized, synchronized, and digitized for optimal results.
• Structure:?Choose the right tools to centralize and structure your data.
• Exploit:?Analyze and base your strategic decision-making on the collected data.

Step 3: Learn from the data and iterate

• Continuously iterate to improve and optimize your database: an iterative cycle is the best way to progress rapidly over time, based on accurate and up-to-date data for objective decision-making and a continuously optimized operational process.

Curious to learn more? Contact me at?[email protected] ?if you want to discuss some pieces of advice!

?? Here's the recording of our last webinar

On March 3, we shared our tips for?optimizing your sourcing performance through digital transformation. We had a great time meeting and chatting with attendees during and after the presentation!

You can view the recording of the training by clicking on the video below.

The latest improvements on Axya

Our team is continuously working to improve our user's experience with Axya. Here are the latest improvements to the software:

• Supplier Distribution List Management

In order to be sure the right people are being tagged on your requests, you can now view and manage who shall receive notifications on your requests as well as invite new contacts in case there are changes.

• RFQ split import

If you have a lot of parts to contract and want to optimize your savings to split a big contract between 2 suppliers, awarding on a part-per-part basis is time-consuming. Now, you can import your BOM with your selection and we will split your RFQ in one click!

• Filtering and Sorting your active listings

When you are looking for a specific request amongst your ongoing requests quickly, it can be time-consuming to search manually. We have introduced sorting and filtering so you can narrow down your search!

?

And much more:?

• Two-factor authentication
• Privacy settings when exporting your submission templates
• Currency conversion preferences
• Improved email notifications
• Catia file analysis

To learn more about the latest features available on Axya, read our latest?release note . ??

Curious to learn more?

We regularly publish articles on the manufacturing industry on our?blog .

Would you like to receive information on a particular topic or give feedback on this newsletter? Feel free to share your opinion at?[email protected]!

Best,

Elsa from Axya