Suppliers and Buyers: A Modern Supplier Network Love Story
For Valentine’s Day, we celebrate love – and we want to highlight one of the most important relationships you have, the one between suppliers and buyers.
While having dinner recently with some single friends of mine, I was regaled with stories of what it’s like to be a part of the online dating scene. Having married my college sweetheart after a courtship completely devoid of cellphones, texting, Match, eHarmony, Facebook, etc. (yes, I realize this admission somewhat dates me), I was in awe of how different the process of locating, learning about, and ultimately partnering with someone has become. I couldn’t help but wonder how my courtship would have been different if it had happened today – would the outcome have been the same?
Ironically, the next day at work I had a schedule full of meetings with customers about supplier relationship management. The conversation from the night before still fresh in my head, I couldn’t help but make a connection between suppliers and customers connecting via online network and dating sites. Much like how our personal relationships have moved online, so have those of buyers and suppliers. While adoption of supplier network technologies continues to rise, I wonder what impact this is having on the buyer/supplier courtship process.
As one of my friends noted during dinner, the biggest difference between online dating and dating in the real world is the amount of prospects available. As singles navigate the dating world and find potential partners, online dating (with its expanded reach and selection) helps cast a wider net than who may be available in one’s immediate circle. This makes the old adage “there are plenty of other fish in the sea” a mantra for those searching for the perfect one.
We at JAGGAER want to make it easy for our customers to make that “love connection” with suppliers. In order to make that sea larger and have more diverse options for our customers, the JAGGAER Supplier Network has changed the supplier onboarding process.Now, instead of customers inviting chosen suppliers to register in the JAGGAER Supplier Network, we are now offering open registration and inviting any supplier to register in our network and create a searchable company profile.Current suppliers will also find the portal easier to update their contact information and upload insurance and other documents.
With a robust list of options, our customers will find the best suppliers to meet their sourcing and procurement needs by creating more opportunities for supplier- introduced innovation, price competition, and identifying new sources to fill gaps or improve existing supply chains.
But unlike online dating sites, there is no transaction-based or access fees to prevent buyers and suppliers from connecting and getting the maximum benefit from automating the source-to-settle process.
That’s what ultimately creates the mutually beneficial love connection both parties look for.
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