The ability to make good sourcing decisions always hinges on having the most accurate information possible. And while accumulating that data is certainly a critical step, keeping all of it organized should be a close second. However, for most manufacturers that idea usually works better in theory than it does in practice.
That's where a new supplier information management (SIM) platform developed by Aravo Solutions could help fill in some gaps. Introduced in May at the International Supply Management Conference in St. Louis, Aravo's SIM 10 is an on-demand tool designed to address global enterprise requirements for comprehensive functionality, security, reliability and scalability in one integrated, easy-to-deploy system.
"This solution is not about sourcing in terms of running RFPs, or e-procurement or even a transactional focus," explains Jon Bovit, vice president of strategy for Aravo. "It's about supplier information management as a discipline -- the ability to have all of your supplier information in one place, with one central point that allows you to manage and collaborate with your entire supply base."
Built on the concept of self-service and automation, SIM 10 provides role-based dashboards that pull together disparate pieces of information from diverse areas of the business and aggregate third-party and supplier-generated data into a centralized master data repository. Suppliers can also self-author their own information and submit it to their enterprise buyer partners through a workflow-based submission and approval process.