Current Situation
Organizations monitor suppliers, spend, and operational metrics with point-in-time historical performance information. These are disparate data points and captured in silos and must be understood together, and manually integrated, to provide a 360-degree view of procurement operations.
Goals and Objectives
Monitoring suppliers in real time on a continuous basis using internal and external data will eliminate the need for manual historical information views. Moving a step beyond this and enabling more predictive analysis can help organizations improve demand planning and pinpoint potential future disruptions and risks driven by market changes (e.g., commodity pricing) and other internal/external factors.
Technology Deployed
Enterprise hardware, personal devices, cloud, big data and analytics, mobile, applications, connectivity services, cognitive, and next-generation security
Use Case Summary
Businesses can manage and optimize performance KPIs for suppliers, helping the enterprises understand their supply base today and in the future. It also allows the business to start to project future performance, enabling improved supplier relationships and supplier source selection.