Managing suppliers is an extremely important part of materials management, and one of the most crucial tasks in the procurement phase. Selecting the right suppliers automatically increases your chances of project success. Apart from selecting the correct suppliers, you also need to track their performance in a consistent manner. You should also maintain their performance history for reference in the future projects.
Using Smart Materials, you can create an entry for each supplier and enter all details for the supplier, such as business information or how it will be used.
You can also enter sales information like the maximum value that an agreement with that supplier can have. You can also track a supplier’s rating in a project, the overall amount purchased from the supplier, diversity related information, and communication information.
Before you sign an agreement with a supplier, you need to assign the supplier to the appropriate material or service type. A material or service type represents a set of materials or services that a supplier is able to supply. Each supplier can be assigned to as many materials or services as necessary.
View Manage Companies for more information on managing suppliers.