DIGITAL SUPPLY CHAINS the integrity of your golden record , control the flow of all new supplier data into the enterprise . Gratifyingly , this is possible in practice . It ’ s as simple as building a single front door into your architecture that only grants access to quality data .
Next , put your golden record to work to change the cycle ’ s trajectory . This is where automation can work in your favour . Using good data , program routines to manage traditional transactional processes . Then use the time saved to analyse your record for opportunities to remove supplier friction points . Improve processes by actioning new workflows that make it easier for suppliers to provide information . For example , you can design processes that encourage and incentivise suppliers to offer better quality information , such as improving communication channels and restricting the number of login details they need to remember in order to interact with the company .
Finally , propel the cycle in its new direction by cultivating a partnership mindset . A culture in which suppliers and the organisation can strengthen one another is what fuels a virtuous cycle . Equally , a zero tolerance for bad supplier experience within the organisation helps maintain mutual success . Therefore , take deliberate action to instil an ethos that champions suppliercentric , data-first thinking .”
Once a bad cycle has been redirected in a healthy direction Procurement will be in a strong position to add tools and yield results .
CPOs face an exciting opportunity to transform their organisations ’ competitive standing . But first they must transform the way in which they consider digitisation . Armed with the courage to change the status quo and a strategy that steers trusty master data and friction removal , CPOs who are willing to take deliberate action can build a healthy foundation and deliver true digital transformation .
HICX will soon be releasing its ‘ Voice of the Supplier ’ survey . Over 500 suppliers were asked about their experience serving some of the world ’ s biggest organisations . To learn what makes and breaks the supplier experience , follow HICX on LinkedIn .
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