Overcoming Supplier Management Challenges

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Admittedly, every company has unique supplier management challenges. However, some issues are common denominators in every industry. Since our customers span many industry verticals, Colby Young, VP of SourceDay’s NetSuite Business Unit, and Christine McAvoy, Director of Customer Success, recently co-hosted a webinar to share some of their success stories. These illustrate how a properly implemented software solution aids in removing obstacles facing high-growth companies.

Obstacle #1: Late Deliveries: Mitigating the Impact and Cost

Farmers Business Network puts up a hard fight against time and constantly changing circumstances to deliver for their customers. They had near-zero visibility into their supply chain because of their lightning-fast pace. They would ‘do what they had to do to get it done’ – but emails, sticky notes, and other triage-style solutions brought a host of problems, including bottlenecks and error-prone processes. Eric Scott, Global Procurement Operations Manager at Farmers Business Network, referring to the transformation brought about by SourceDay, said it was like “the blinders had been lifted.” Now the team can see the status of all inbound inventory in real-time. As a seasonal business, they can make PO-level adjustments according to changing needs and keep their clients informed of any adjustments to the delivery schedule.

Obstacle #2: Keeping Customers Stocked Amid a Supply Shortage

Winky Lux, a high growth health and beauty makeup brand

Winky Lux struck gold when they landed a place on Target’s shelves. But production delays made it difficult to keep those shelves filled. Empty endcaps due to supplier communication issues could endanger their ongoing relationship with the retail behemoth. That could turn their rocket-like rise to stardom into a flatline of failure. To avoid that, they invested in SourceDay to gain immediate visibility while ensuring a path for future growth. As Nate Newman, their COO and Co-Founder, explained, the company is now prepared to double their business because they have NetSuite and SourceDay in place. This solution provides structure, control, and consistency to their internal processes and enhances communication throughout their supplier network.

Obstacle #3: Implementation Time and User Adoption: Getting it Done Quickly

DuraMark Technologies, a high growth manufacturer of safety labels

Business doesn’t stop for a software implementation. Users of the system also have their daily tasks to complete, making it a real challenge to make the change quickly, no matter how high the promised ROI is. But our client DuraMark holds the record for shortest SourceDay implementation time to date. They were up and running in just six days! The speed was critical, as they are well known among their clientele for their agility and innovation. This wasn’t just an inside job; even on the outside, SourceDay was hard at work to onboard their suppliers—both large and small—in record time. They combined their intuitive technology with an organized supplier onboarding team.

Sourceday = Improved Supplier Performance = More Growth

Did you note the common thread in these scenarios? All three clients were able to achieve vastly improved communication with suppliers. Working through a centralized system, both buyer and vendor can stay in sync automatically and in real-time. As a result, our clients are able to cope with growing pains, reduce cost overruns that eat into their revenue, and have control over supplier delays.

Ultimately, a disconnect between you and your suppliers is a threat to your business’s continued growth. Farmers Business Network, Winky Lux, and DuraMark leveraged NetSuite for their operations and bridged the supplier gap with SourceDay’s ‘Built for NetSuite’ solution. Watch the full webinar, ‘How 3 NetSuite Customers Improved Supplier Performance to Fuel Growth,’ on-demand now. Ready to see how SourceDay’s solution can improve your supplier communication? Request a demo today to get started.

By SourceDay, www.sourceday.com

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