Tying in strongly with bid and spend tools, supplier management is a must-have when it
comes to procurement. Along with assistive features for cost issues, supply chain management
tools can also help businesses get a better understanding of how they relate to their suppliers.
Supplier management tools show the history of a business partnership and how it affects the
supply chain. Using supplier performance analysis, users can see how any given supplier has
contributed to a business model.
With the ability to continually assess your partners‘ contributions, decision-makers can
act more confidently to change or otherwise manage supplier relationships. Furthermore,
supplier management tools often offer a workspace to perform bids, auctions and negotiations
for more centralized procurement.
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