How can the metals and mining industry streamline direct material procurement?

Finding an intelligent solution

  • Cloud-based and self service
    Given that suppliers are generally geographically dispersed, a cloud-based platform enables suppliers to update data instantly from multiple locations using multiple devices in real time. Also, a simple and intuitive interface is key to enable a smooth supplier registration process and hassle-free data updation on a day-to-day basis.
  • Tailored for industry and application
    Given the complexities related to direct material procurement, the solution be tailored to needs of the industry. In the case of the metals and mining industry, for example, the ability to capture the components of concentrates as well as their quality and pricing methodologies is important. Similarly, the solution must account for weighing and sampling to determine the pricing based on the quality of the samples as compared of what contract. Assaying is another key process to incorporate — both identifying the components and impurities within the concentrates as well as third party validations in case of supplier-buyer disagreements.
  • Ease of configuration and integration
    The solution must allow for easy customization and configuration of new processes. Ease of integration with ERPs and open APIs to integrate with other systems like D365, Infor, NetSuite, EPICOR can help achieve truly seamless communication.
  • Reporting capabilities for better visibility
    Easily configurable dashboards for real time insights into processes and performance can be extremely valuable. Proactive reporting and analysis can enable deeper insights into the supplier performance and status of the contracts and shipments. Getting a 360-degree view of the purchase orders and the suppliers can offer powerful insights on supplier performance, ratings etc.

Digitalization brings apparent benefits

  • Greater efficiency
    By enabling real-time analysis, calculation and publishing of price information, the solution helps address some inherent inefficiencies that exist with large, complex pricing strategies.
  • Autonomy for business partners
    Business partners can update, upload or view documents and transaction histories (orders and balances). They can also conduct negotiations online, making it easier for them to do business with the company.
  • Faster communication
    Since automation of processes decreases time spent communicating with suppliers, it eliminates the latency of information sharing and speeds up the entire process.
  • Ability to prioritize high value activities
    Rather than chasing down information through multiple emails and phone calls, teams can focus on higher value activities such as evaluating new suppliers, better serving existing suppliers, and improving contracts.
  • Real-time collaboration
    Since the company and its suppliers have a single, shared view of information, including alerts and notifications when disruptions occur, inter-company interactions are simplified. They can negotiate in real time, working through contracts and pricing instantly instead of waiting hours or days for return phone calls or emails.

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