How can companies gain a competitive advantage in procurement?

Procurement leaders predominantly rely on contract-based procurement with pre-agreed price and quality targets and Service Level Agreements with their suppliers. Exchanging forecasts or delivery schedules that are constantly updated to replace purchase orders. Advance Shipment Notifications trigger goods receipt against contracts and automated payments. These contracts are heavily subject to changes, which are administered automatically by our supply chain management apps and mutually approved to update the internal systems. This is a proven methodology to make procurement relations more professional.

Real-time insights on KPIs, such as on-time delivery, stock availability, order accuracy, and production lead times are essential when working with a multitude of suppliers. Quyntess seamlessly integrates and consolidates data from your ERP solution and the supplier network to serve up powerful insights that measure against what is agreed in the service level agreement and related KPIs defined. Unlike internal BI tools and dashboards, these KPIs are shared directly on the supplier’s home page, so they are alerted and triggered to a pro-active and self-curating mechanism instead of waiting for the buyer’s escalation.

Companies are often unable to recognize the early signs of unforeseen events nor respond quickly to changing purchasing conditions, part shortages, compliance issues, and other material replenishment shocks. Our framework collects early warning signals from both real-time events as well as so-called “non-events”. By pushing alerts to suppliers initially and to buyers if no reaction or correction is spotted we take the hard monitoring work away from procurement. Our real-time collaboration allows you to manage supplier relations effectively, resulting in improved on-time delivery, streamlined processes, and increased productivity.