New York, NY/USA
Order/Demand Capture, Sourcing, Procurement, Payment, Decision Support
Most everyone agrees the most complex commodity in the supply chain is human capital. It is also the newest commodity to be regarded by supply chain managers because prior to advances in information sciences enabled by powerful computer software, there was no method sufficient to manage the process. The undeniable growth of contingent workforces in nearly every industry is a direct result of the innovation of the automated vendor management system (VMS) for human capital. This innovation was not a simple repurposing of the same supply chain management technologies companies have used for decades to source and procure static commodities such as office supplies and raw materials. Those systems were not flexible or sophisticated enough to address the staggering complexities and nuances required to effectively procure the very best network architect, clinical researcher or other highly skilled worker for any given job.
Today, most of the world's largest concerns maintain a significant percentage of non-employee workers among their overall workforce, and most employ an automated VMS to manage their supply of contingent labor, according to ProcureStaff, a VMS provider. ProcureStaff differentiates itself from other players in this space by emphasizing that its business intelligence service offers aggregated multi-dimensional data that, it says, can more accurately reflect the nuanced environment within which all business operate. "ProcureStaff's data is comprehensive and truly reflects the state of such elements crucial to services procurement as availability of high demand workers like IT and engineering talent; up to the minute market rates for different skill sets; and supplier performance," the solution provider says.
Sourcing, Procurement, Fulfillment/Logistics, Integration & Infrastructure/ERP
Norman D. Conway, president and CEO, Prorizon Corporation, says, "If all you're doing is automating your old procedures, you miss the opportunity to truly revolutionize the process." He adds that the new horizon for procurement seeks to minimize or eliminate post-purchase costs. In addition, Conway believes that companies should avoid the complexity of large, over-engineered ERP systems as well as under-engineered "Band-Aid" systems that consume time, resources and increase overhead costs. Rather, he says, organizations looking to leverage technology should seek a simplified approach to achieve the business functionality required by the strategic and tactical stakeholders within an organization.
Red Bank, NJ/USA
Order/Demand Capture, Sourcing, Procurement, Payment
Being a provider of procure-to-pay solutions for over 25 years has given PurchasingNet Inc. (PNi) the chance to have frequent conversations with senior supply chain executives across many different industries. Currently, PNi said it has observed that the primary supply chain challenges for these executives include the need for improved policy controls, enhanced spend visibility (for both sourcing and cash management), complete audit trails, increased reporting and forecasting abilities, and business process tools to make better use of working capital.
PNet ePayables and Financial Management suites were originally introduced in 1999, and PurchasingNet continues to enhance the functionality of each PNet suite to stay ahead of the demands of the procure-to-pay market. During the past 10 years, PNi has committed to adding modules to PNet Software that are responsive to customer and marketplace feedback and are designed to help with the convergence of the physical supply chain with the fiscal supply chain.
Some of these modules include the PNet Opt-In Early Payment Discount Management (EPDM) module in the ePayables suite and the Key Performance Indicator (KPI) Dashboard & Best Practice KPI Library in the Financial Management suite.
PNi currently has five patents pending for innovation within its PNet ePayables suite.
Order/Demand Capture, Sourcing, Procurement, Fulfillment/Logistics, Payment, PLM, Integration & Infrastructure/ERP, Decision Support
According to Puridiom, supplier enablement remains one of the top challenges facing its clients today. The disconnect between the company and its suppliers is causing supply chain disruptions, compliance and accuracy issues, longer order and invoice cycle times, missed saving opportunities, and is even hindering the ability to establish new and stronger supplier relationships.
Puridiom continues to introduce new technologies, strategies and services to overcome these challenges, one of which is its Puridiom Catalog Content Manager (CCM). This technology addresses the challenge of managing and enabling supplier catalogs with multiple data formats and standards by essentially creating a private marketplace that is easily accessible by the buyer and supplier through a single integration point.
Puridiom said the second new wave of supplier enablement is the automation and outsourcing of the Accounts Payable functions. To that end, Puridiom is helping clients by providing Accounts Payable Automation and Outsourcing, which allows them to outsource all or part of their accounts payable business functions or keep their AP functions in-house.