Why You Should Have a Vendor Portal to Manage SuppliersDavid Inbar
In today’s rapid business world, immediate and efficient access to information is a must. Along with your customers, suppliers and purchasing agents need the same level of info just as fast. The fastest and most cost-effective way to implement this is with a supplier vendor portal. Here are some of its benefits:
Portals allow the supplier to have a high degree of autonomy. Inquiries that would have taken days or even weeks through a lengthy process of calls and emails is instead done by the supplier in a few clicks. In addition, rather than exchanging calls between various accounts departments to see if an invoice has been paid, suppliers can simply log in to the portal and respond as needed. These self-service features free up valuable employee time for all members involved, and streamlines the business communication process
A common portal provides both the supplier and the customer a shared view of data, such as performance scorecards and other statistics. Previously, both sides had their own applications which showed out of sync data, leading to miscommunications and failed orders. Having a single source of information leads to better and more streamlined communication.
Supply chains are always changing. Buyers open new distribution centers, manufacturing plans, and retail outlets, which change routing guides. Suppliers downsize production and change location, which affects delivery times. Knowing these changes ahead of time and being able to act on them is key to maintaining stability in a supply chain. Without it, both sides are left in the dark, and can potentially face disastrous consequences. Portals provide an interface to communicate and learn about changes faster and easier than before. What used to take a lengthy and confusing email conversation is now conveyed by a simple message.
As you can see, having a common vendor portal for suppliers to use is vital in maintaining a supply chain in today’s world. TPSynergy offers a cloud-based vendor portal that offer all the benefits listed above. Learn more here: https://www.tpsynergy.com/supply-chain-control-tower or send us a message using the contact form.