Redwood Shores, CA February 4, 2003 e-Business solutions provider Oracle this week reported that it has created a supplier advisory board as part of the company's efforts to improve supplier relationship management (SRM) processes.
Oracle said that by developing procurement applications that include input and direction from leading suppliers across multiple industries, it will be able to help its customers further improve supplier relationships and increase their return on investment.
Founding members of Oracle's supplier advisory board include Boise Office Solutions, Dell Computer, Grainger, HP, Kelly Services, McCormick & Co., Newark Electronics, Relief Printing, SHI, Software Plus, Software Spectrum, Staples, Toshiba, Trodat Marking Products and Wallace.
"When seeking to maximize business process improvements, organizations should depart from a strictly internal or insular focus," said David Hope-Ross, research director at technology consultancy Gartner Group. "As companies adopt SRM, there will be increasing recognition of the need to improve cross-enterprise purchasing processes and foster supplier collaboration. This will require more formal processes, structures and feedback mechanisms to capture supplier's requirements, insight and input."
The supplier advisory board will provide an environment in which Oracle and board members will be able to work together to develop more effective procurement applications that include both the buyer and supplier's perspectives, Oracle said. Board members will be able to communicate directly with Oracle's development team to map critical supplier processes and influence product direction for SRM applications, helping to ensure new capabilities solve high-priority problems that both buyers and suppliers experience.
"Effective supplier relationship management requires optimization of business processes and supporting technologies," said Dave Stephens, senior director of procurement applications at Oracle. "The supplier advisory board provides Oracle with extremely valuable input to enhance its procurement applications for increased value across the supply chain and better [return on investment] for our customers."