// ROBOTICS AND SMART FACTORIES TERM
Supplier Management
The process of overseeing and improving relationships with suppliers to ensure they meet performance expectations and contribute to business goals.
TECHNICAL DEFINITION
Supplier management involves the systematic processes and strategies employed by an organization to evaluate, select, onboard, monitor, and develop its network of suppliers, ensuring performance alignment with business objectives, risk mitigation, and continuous improvement across the supply chain.
BACKGROUND
The Fourth Industrial Revolution, also known as 4IR, Industry 4.0 or the Intelligence Age, is a neologism describing rapid technological advancement in the 21st century. It follows the Third Industrial Revolution. The term was popularized in 2016 by Klaus Schwab, the World Economic Forum founder and former executive chairman, who asserts that these developments represent a significant shift in industrial capitalism.
READ MORE ON WIKIPEDIASYNONYMS & ALIASES
- Vendor Management
- Supply Base Management
- Procurement Management
USAGE NOTE
Effective supplier management is crucial for maintaining quality, controlling costs, and fostering innovation.
DEVELOPERS
Organizations developing technology related to Supplier Management.
Provides cloud-based procurement and supply chain solutions, including comprehensive supplier management capabilities for sourcing, contracts, performance, and risk management, fostering collaboration across the supply network.
Offers a Business Spend Management (BSM) platform that includes solutions for procurement, invoicing, expenses, and robust supplier management, focusing on optimizing spend and increasing supply chain resilience and transparency.
Through its Oracle Cloud SCM (Supply Chain Management) and ERP (Enterprise Resource Planning) solutions, Oracle provides integrated modules for supplier relationship management, procurement, and supply chain planning to enhance collaboration and efficiency.
Specializes in a complete spend management platform that covers sourcing, procurement, invoicing, and comprehensive supplier risk and performance management, enabling organizations to build more resilient and collaborative supplier relationships.
Delivers a comprehensive suite of Source-to-Pay (S2P) solutions, including advanced supplier management tools that help companies manage supplier data, performance, compliance, and relationships across the entire procurement lifecycle.
Offers a concurrent planning platform that helps businesses manage their supply chains end-to-end, including demand, inventory, and supplier collaboration, enabling agile and resilient responses to disruptions and enhancing strategic supplier management.
Provides AI-powered procurement software, including GEP SMART, and consulting services that help enterprises optimize their direct and indirect spend, encompassing strategic sourcing, contract management, and advanced supplier relationship and risk management.
Operates a large multi-enterprise network for supply chain collaboration, providing solutions for demand sensing, inventory optimization, and global trade management, which inherently requires robust supplier connectivity and management for end-to-end visibility and efficiency.