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Supplier management is the process for creating and administering relationships with external organizations that provide materials and services. From onboarding and contract management, to secure data access, incoming quality and performance management, effective supplier management drives value for your organization.
Finding and managing suppliers of goods and services is critical to the success of manufacturers. Effectively automating and streamlining key processes, such as onboarding of new suppliers, sharing of product data, and evaluation of product quality and supplier performance, directly affects bottom line performance and company success.
But it’s not easy. Challenges include lack of data control and access, inefficient and unsecured sharing of intellectual property with suppliers, and the difficulty of communication with multiple languages and timezones.
But done well, effective supplier management represents a huge source of value for manufacturers.
Capture premium pricing and reduce time to revenue with early market entry.
Grow profits through component cost control, smart resource allocation, and high engineering throughput.
Increase market share and customer loyalty with differentiated products and effective omni-channel promotion.
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Fully define and evolve the BOM. Manage change intuitively with redlining, draft BOM’s, automated approvers and mobile notifications. Assess component risk with SiliconExpert grading.
Enable external access to parts, BOMs, and projects by authenticating assigned users to reduce cycle times, close the loop on product decisions, and reduce the risk of letting valuable IP into unverified hands.
Manage the process of evaluating, onboarding and re-qualification of suppliers & manufacturers as well as their parts that are approved for the product. This also may include audits, inspections and supplier inputs to ensure compliance. Performance is continually monitored for trends and thresholds across quality, delivery, compliance and risk metrics.
Manage supplier quality through well-defined quality workflows including CAPA, SCAR and Audit processes. Supplier performance requires verified training, AVL/AML management, and adherence to compliance standards.
Accelerate development cycles by automating workflows and assigning tasks with rich context and direct links to product artifacts.
Utilize online testing to streamline global training and reduce time to test and certify suppliers.
With Propel, Formlabs can ramp up a brand new supplier quickly, including regulatory and compliance certifications, while having control into what suppliers can see and access.
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