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Challenges

  • Supplier Discovery is a process that is not documented
  • There is no guideline on how to prospect for a new supplier
  • The sources used to search for new suppliers don’t provide any kind of information security
  • Inaccuracy on the contacts details in order to initiate the connection

How TYS Helps

  • Marketplace of suppliers that the buyer can reach out
  • User stays in TYS rather than going to multiple sites and programs
  • Uses global standard code set for classification of Goods and Services (UNSPSC)
  • Suppliers can now be reviewed and easily invited to connect, where comprehensive supplier detail and completed questions can be evaluated in a single aggregated view. Third-party tools such as RapidRatings are included in this view for greater detail and validation
  • Accurate contact details available

Outcomes

  • An established process to supplier discovery
  • Relationship history (timestamps and action taken)
  • Supplier prospection in a secure and trusted environment/network
  • All information in a single place and reduction of time

Roadmap Horizon

  • Reporting & Analytics Dashboard will allow for ratings and other attributes across many suppliers for comparison
  • Smart Attributes will be enabled which allows for key ratings and data points from third parties to be searchable
  • Planned integrations with other networks like Trade Shift and Source Connect/DMSCA will enable the discovery of the suppliers from the other networks