At one of the largest consumer products and pharmaceutical companies in the world, thousands of individuals are involved in the vendor evaluation and management process. The company also had multiple data sources that were difficult to integrate, and it required a single point of access to information on all its suppliers. Further, the company needed a way to include and streamline the numerous vendor surveys that had become burdensome to send and collate. Staff was overwhelmed by “spreadsheet tsunamis” because vendor evaluation often encompassed hundreds of sheets. In addition, the company wanted to incorporate outside ratings, such as Dun & Bradstreet, in the vendor management process, and lacked a way to quickly analyze key performance metrics on vendors.
The DAC vendor management solution collects global supplier data in real time, pulling in data from many disparate sources. It provides the analytical tools necessary to make accurate and timely in-context decisions around that data and enables the company’s external supplier and vendor team to adjust processes based on the decisions they make.
The DAC solution delivers key vendor management capabilities, encompassing real-time data collection, supplier intelligence, social collaboration, market intelligence, and supplier surveys. The solution enables the company’s external supplier and vendor team to quickly identify the right vendor to get the job done, negotiate the best terms, and identify any issues that might affect the supply chain. The solution provides:
- Access to the same set of information from all locations worldwide
- Integration of multiple data repositories
- Rationalization of information that eliminates duplication and unifies suppliers under one master file
- Optimization of end users’ effort to navigate the data
- Real-time access to external market information via semantic analysis of both subscription and public information, together with internal data
The DAC vendor management solution collects, harmonizes, and shares data related to third-party manufacturers and suppliers in a single place for use by the company’s global external supplier and vendor team. It provides the team with the analytical, evaluation, and collaboration tools needed to manage thousands of vendors efficiently. The DAC solution has helped the company achieve these results:
- Optimized Operations: Achieved by greater efficiency in data collection, reporting and analysis, streamlining supplier surveys, and instant availability of vendor ratings
- Reduced Cost: Achieved through better visibility into supplier performance, yielding improved leverage in supplier negotiation
- Increased Supply Chain Reliability: Resulting from improved availability and timeliness of supplier information, leading to better risk management and risk reduction.