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6 Benefits of Purchase Order Collaboration

Customers using SourceDay Customers using SourceDay

Looking to transform your procurement team’s purchase order process? Read on to learn 6 ways PO collaboration can improve your company’s ability to manage risk, drive collaboration, and impact your bottom line.

Since 2015, SourceDay has been disrupting the world of direct-spend procurement with cloud solutions for manual Purchase Order, Accounts Payable, Request For Quote, and Quality Control processes. Our mission is to help manufacturers and suppliers remove waste and inefficiencies from their supply chains. Here are just a few of the benefits of transforming your PO process.

1. Work Smarter

By automating day to day tasks like tracking open orders or updating PO lines, procurement teams can spend more time on strategic planning. Instead of spending time tracking all POs, you can devote more time to working with suppliers and problem solving specific PO issues.

2. Mobile PO Management

Push notifications for acknowledgments and alerts for late orders allow buyers to easily manage POs while on the go. Quickly find PO updates and browse all communication between buyers and sellers organized in a single dashboard.

3. Avoid Costly PO Errors

Avoid costly data entry errors on POs. Suppliers can import data directly from SourceDay into their system without manual entry. All PO updates are automatically transmitted back to your ERP in real-time so you can always operate with 100% accurate data.

4. Improve Delivery Times

Every time a supplier makes a change, such as a due date, the buyer has the option to approve or reject the change. With accurate data and improved communication, you can do a better job forecasting deliveries.

5. Master the Art of Inventory Management

The supplier PO dashboard mirrors the buyer’s view keeping your supply chain in sync with your business requirements. Anticipating the market’s need and only ordering what is required to do business helps keeps your overhead low. Streamlining inventory management means higher profit margins and less risk.

6. Make Better Business Decisions

Data is the cornerstone of sound business decision-making. Having access to real-time data can help with decision making and avoiding costly mistakes.

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How Dell Transformed Supplier Collaboration [Webinar]

Learn from Dell’s Director of Supply Chain Gentry Pate, Spend Matters’ Analyst Nick Heinzmann, and SourceDay’s very own CMO Sarah Moore as they discuss how to digitally transform the ‘first mile‘ of a supply chain.

Market forces and global trade trends are making supply chain operations increasingly complex. Organization in the first mile of your supply chain’s operations is essential. Nick covers a few of the crucial steps to ensure your supply chain is set up for success.

How Dell Transformed Supplier Collaboration | Spend Matters Webinar (11:34)

In the full webinar, Pate shares how his team adopted the steps above. By using SourceDay’s PO Collaboration tool to eliminate tactical tasks and proactively manage its supply chain, Dell’s investment paid off by improving supply chain efficiency.

As the director of a global services parts program, spanning more than 160+ countries and dispatching more than 12 million parts annually, Pate knows the challenges of managing complex and fragmented supply chains first hand. While auditing their PO process to understand how time was being spent, Dell found that their planning team was spending 58% of their total time on POs that amounted to less than 20% of the total budget. In order to become more efficient, Pate used SourceDay to automate the PO process for the low-cost parts.

Using SourceDay’s PO Collaboration tool and analytics, Dell was able to set minimum and maximum order volumes to reduce safety stock and automate nearly 90% of procurement for certain commodities. Some planners automated between 70-90% of their decks and shifted their attention from day to day tactical work to strategic planning.

This was the first step we needed to get to. Let’s get the busy work out of the way so we can move forward on our autonomous journey… We’re no longer looking at part-to-planner ratio, we’re looking at part-to-planner activites.

Genry Pate, Dell’s Director of Supply Chain

Learn more about Dell’s journey with SourceDay and how you can transform your supply chain.

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