RFx Tip: Increase Supplier Communication with eSourcing tools
RFx Tip: Increase Supplier Communication with eSourcing tools
Just like in any long-term relationship, communication is the key when it comes to positive and productive supplier relationships. Get it right, and suppliers become an extension of your business. Get it wrong, and poor communication can have the opposite effect, impacting business performance in a negative way.
Supplier communication has become increasingly complicated over the years as customer demand for increased responsiveness, pressure on price and margins, and the globalization of supply chains have all contributed to a challenging and complex business environment. To meet these challenges, many companies have reacted by making improvements to the way they connect, monitor and communicate with their suppliers. This is where esourcing tools step in to help alleviate that issue.
Esourcing tools can be used as an effective supplier communication tool, whether it is directly to one supplier or as a broadcast communication to multiple suppliers. It also helps centralize information and ensure audit-ability of the esourcing process.
Esourcing platforms provide significant benefits to both sides of the relationship. Submitting responses to tenders can be a laborious process and ultimately a barrier for some organizations. Esourcing tools solve this issue for SMEs in particular as they can engage more easily in the supplier selection process by simply responding to a pre-qualification questionnaire.
When communicating with multiple suppliers, it is important information is delivered in a structured way. Using esourcing tools to automate the tender process means all suppliers receive information at once, in the same format and in compliance with highly regulated procurement processes.
Having identified preferred suppliers through esourcing, businesses are increasingly building positive supplier relationships. By removing tedious paperwork, esourcing tools also enables buyers to free up time to focus on relationships with their key suppliers.
Highly collaborative supplier relationships emerge through efficient communication. By standardizing channels of communication with suppliers electronically, it can greatly decrease many of the complications that come with managing today’s global supply chains.
