Vendor Relationship Management

Overview of Vendor management

The main aim of Vendor management is to ensure that goods or services are sourced from credible vendors on time at the agreed cost and to the specified requirements.

• Decrease direct and indirect costs of sourcing and improve bottom-line profitability with informed decision process.
• Understand what you are buying, from whom and when best to be bought.
• Minimize the risk of delay-in deliveries and vendor financial solvency.
• Select the cerdible vendors to gain advantage over competitors.
• Streamline your procurement process by collaborating with departments across the enterprise.
• Assure that your organization's resources Save Time, Effort and Cost significantly working with best vendors and maintain periodical vendor oversight.

It means developing effective working relationships with your vendors, ensuring effective service delivery, maximising value for money & providing consistent quality for Stakeholders and end users.

• Centralized Vendor Information
• Vendor Assessment and Rating
• Vendor Enablement with Easy to Use Self Service Web Portal
• Generate and Publish Purchase Requisitions centrally
• Consolidated view and Comparative analysis of submitted quotes with multiple pre-defined parameters (Price, delivery schedule, technical expertise, financial solvency, payment terms etc)
• Manage Vendor Risk (Periodic Evaluation and Report on Vendor Performance)

MIMSYS Vendor Relationship Management

• Vendor registration portal
• Vendor initial evaluation & rating

• View published Purchase Orders/Tenders/Quotes to selected vendors Submit

• Vendor Activity/Statistics/Dashboard etc & reporting on Vendor performance
• Vender delivery in inventory is posted to VRM
• Monitor status of deliverables on parameters such as partially delivered, Quality issues, packaging etc
• Vender views, accepts or rejects POFS (Purchase Order Fulfillment Statement)

• Generating all Purchase requisitions
• Consolidating all Purchase requisitions
• Publishing Purchase Orders/Tenders/Quotes to selected vendors
• Receive quotes from vendors
• Comparative analysis of all vendors in a consolidated sheet
• Analysis of quotes based on predefined norms such as pricing, delivery terms, payment terms etc
• Generate POFS
• Post POFS to vendor portals
• Vender accepts or rejects POFS
• Post PO to Vendor portal & send alerts to vendor

• Vendor Activity Statistics
• Dashboard reporting on Vendor performance
• Vendor periodic evaluation & rating