Framework’s central repository will improve supplier management practices by providing contract and procurement executives with improved visibility to company-wide supplier information and communication history.
Framework enables full management of supplier relationships due to all contracts regarding a particular supplier being linked within the central repository. You can also store supplier approvals, performance, risks and SLAs to ensure you make more informed decisions going forward.
By providing quick and easy access to current and historical information, Framework helps you to cut contract negotiation cycles in half, reducing contract administration costs.
Benefits to centralising supplier management
• Direct access to all supplier contracts
• Review previous discounts, terms and conditions and costs
• Central supplier contact database
• Improved communication between all parties
• Expose different supplier pricing structures throughout the organisation
• Supplier profile, risk and performance information
• Attachment of supplier tender documents
• Direct link to supplier website
• Full supplier communication history
• Graphical supplier spend analysis
Manage supplier risks
Your procurement team may score suppliers based on a variety of metrics often including Political, Economic, Social, Technical, Legal and Environmental factors (know as the PESTLE model).
As Corporate Social Responsibility in Procurement is high on everyone’s agenda, tracking this information to ensure suppliers adhere to your procurement policies is important.
All this information can be stored within Framework, which can be configured to fit in with your organisations assessment matrix.