Supplier Management Solutions
Supplier Management Solutions
Managing suppliers in today’s business world can be a universal problem, whether you’re in consumer products, electricity, or heavily regulated biosciences. There’s usually no insight into operations or supplier performance; coordination and interaction are difficult due to siloed data and fragmented systems; and spending control, time management, and satisfying quality and safety standards can be extremely difficult.
Such fragmented and unproductive efforts have a huge economic, quality, safety, reputational, and time impact on any company that lacks the capacity to manage its suppliers.
Manage The Whole Cycle
Any business’s success is highly contingent on its suppliers. Defected materials and delays can result in product recalls, increased expenses and lost revenue, regulatory issues, and bad publicity.
With Penny’s Supplier Management solution, you can closely monitor all aspects of your supplier management activities, detecting issues as they arise, handling approvals and adjustments in real-time, and maintaining proper supplier performance and service through regular audits and reviews.
By digitally changing how you communicate with your suppliers at every stage, you guarantee that every transaction is properly completed, and nothing is lost or missing.ementation to handle the unique needs of your business’s operating model.
Real-Time Interaction
Implementing a collaborative solution in your business can help your entire team by changing how you interact with your suppliers.
Penny Supplier Management is a safe, cloud-based system that improves your supplier relationships, guaranteeing safety, compliance, and availability.
Get Automated
Stop juggling numerous manufacturing processes and inconsistent supplier control systems. You can effortlessly support hundreds of suppliers and business partners with Penny’s cloud-based solution, bringing new improvements and real-time insight to your activities.
Get more time to plan, make better decisions, and work with a unified solution. Boost your sales with technologies designed to improve the quality and reliabiity of your supply chain. You can now:
Improve Your Margins
Stop Struggling With Recalls
Improve response times by using enhanced event and incident reporting, as well as auditing and maintaining the integrity of your supply chain to handle product concerns before they reach your buyers.
Get To Market Faster
Streamline your supplier operations to meet production standards, reduce errors, and minimize non-conformance, allowing production lines to operate more quickly and remain online.
Whether you’re in mining & metals, manufacturing, retail, or real estate, Penny’s cloud-based solutions can help you manage documents and contracts, capture supplier information, and ensure maximum compliance in no time!
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Frequently Asked Questions
Penny is a cloud-based Procure-To-Pay system. penny helps you digitize and manage your full procurement cycle from request to approval. Manage RFQs to vendors, compare quotations, send POs and even payment. penny was designed to make things easy and consolidate all of your organization’s spending needs into one intelligent system.
- Allocate, manage and monitor budgets by expense accounts, projects, departments, location, teams..etc
- Streamlining procurement means requests, approvals, and POs won’t be lost in emails or offline.
- History and records of requests and purchases can be extracted and tracked easily via the platform.
- Product requests are more accurate through the catalog, and hence avoid purchasing mistakes.
- Reports and analysis can be extracted from the platform, giving you a consolidated data center for all your procurement activities.
- penny is cloud-based and an easy to use platform. The action-board gives your team a user-friendly and simple experience.
Yes, penny is designed to handle complex procurement operations. We make EVERYTHING simple. Via the contract management feature, you can set the terms and conditions of your contract, and the system will recognize the products and the vendors of your request and match it with specified terms of your contract. Easy.
Putting you in control of your spending is integral to our mission. penny allows you to create Expense Accounts that match your P&L, and assign budgets to them. For example, you can assign $X for your “Travel Budget” and reflect on the budget before approving a travel request. In addition, penny allows you to set budgets for cost centers like projects, departments, locations, and so much more. With penny, you can extract reports and view your spend per Expense Accounts or cost center.
