The previous blogs in the series covered various aspect of supplier management technology like – the reasons for its growing importance, internal and external driving forces, low user adoption rate and benefits of using supplier management technology. (Click here for part 1, part 2, part 3, part 4 & part 5 of the blog series)

In this blog, the last in the series we will share technology implementation best practices.

Here are some implementation best practices for supplier management:

• Management announcement – explaining the rationale behind the technology adoption.
• Remember the 80/20 principle and identify the 20% of suppliers with whom 80% of business is done – Suppliers with whom you spend a lot of money and suppliers who have the most impact on your operations.
• Identify KPIs and the process for measuring supplier performance and align KPIs with KRAs.
• Identify the individuals who will participate in the evaluation of your suppliers.
• Extensive collaboration between the organization’s technical team and the tool provider to determine a robust integration approach.
• Sign off on all deliverables, design documents before proceeding to the development phase.
• Extensive technology-specific user training.
• Continuous involvement of all stake holders at every step of the project.

Learn More: Vendor Management