Marc Osofsky, Vice President, Marketing & Business Development, Frictionless Commerce, 617/495-0180; firstname.lastname@example.org
For many companies, supplier management is a complex part of the sourcing process due to the correlation between a sound supply base and a company’s overall success. This reliance on suppliers can be advantageous if the suppliers are strong and solid relationships have been established. However, it can be risky if suppliers do not deliver, or if there is a lack of confidence in their ability to meet company objectives. The Purchasing group is measured by these supplier relationships, yet many companies are uncertain they have the control or knowledge to benchmark performance and track savings. Through technologyenabled supplier management, these relationships become enhanced and mutually beneficial.