“How can I gain a competitive edge in a congested market? How do I take my supplier relationships to the next level? And what digital tools should I be using to enhance interactions with my suppliers?”
We hear these kinds of questions all the time. Many people are anxious about securing the best possible supplier agreements and ensuring they can boost productivity. But not enough businesses are focusing on how and why supplier collaboration tools can add value.
When the right tools are deployed alongside a well defined buyer-supplier strategy you will be able to maximize the collaborative potential of your supplier relationships.
In this blog, we’ll explore exactly why it’s so important to collaborate with your suppliers and highlight some of the best supplier collaboration tools on the market today. So, let’s get started…
Why should you bother investing in a collaborative relationship with your suppliers? Won’t it just be more hassle than it’s worth?
Well, we believe the opposite is true. Supplier collaboration is the key to getting the most out of your supplier relationships and coming up with innovative solutions. Below we’ve outlined a few supplier collaboration benefits to help you understand how proactively engaging with your suppliers can take your business to the next level.
So you want to put these ideas of supplier collaboration into practice? What kind of tools can you use to achieve this?
In the past, the decision to collaborate with your suppliers may have been made quite lightly. You may have used your existing communication and administration tools to achieve this collaboration. These tools may have been separate and they probably weren’t built-for-purpose as buyer-supplier collaboration solutions. Today everything is much more connected and you can now take a holistic approach to supplier collaboration.
Companies, like Kodiak Hub, offer a suite of tools that can all be accessed via, or paired with, a sophisticated buyer-supplier collaboration portal. These include:
To get the most out of these tools it is often best to use them in tandem. This will grant you a complete view of your collaborative efforts with suppliers and maintain your relationships for an extended period of time.
At the core of these supplier collaboration tools is a desire to provide actionable insights, gain industry knowledge, come up with innovative solutions and make your collaborations purposeful.
We know that collaboration is key to the success of any modern enterprise. And this is where Kodiak Hub can lend a helping hand.
One of our favorite things to do is bring smart, motivated people together to create something inspiring. Our cloud-based Supplier Relationship Management platform is an easy way to boost your relationship with quality suppliers. We have a dynamic buyer-supplier collaboration portal that encourages authentic and sustainable relationships. This portal allows our users to put risk and performance intelligence to work; leveraging actionable insights to create impact in supplier relationships.
It’s all too often that manual comms, document sharing and process management is managed with homegrown solutions. This mode of operation makes for a lot of manual tasks and risks human error. Supplier Collaboration solutions can help you to centralize information, documentation, and intelligence; making your SRM activites more process dependent and less person dependent.
You can’t do everything on your own! It’s time to start using the best and most modern supplier collaboration tools to kickstart innovation, streamline your processes and gain a competitive edge.
To learn more about the value of modern supplier collaboration read our blog on the 4 Must Knows to Increase Supplier Collaboration and Innovation