Having detailed and precise information from each and every one of your suppliers is a critical part of making good purchasing decisions. It can provide buyers with invaluable resources from which to see new opportunities to save time and cut costs. But if the information is not available in a clear and manageable format, those benefits could easily be overlooked.
Managing one of the most diverse and complex supply chains in the world, General Electric conducts business with over 500,000 suppliers across thousands of entities in more than 100 countries. And while dealing with such a diverse supply base might have certain advantages, ease of organization isn't one of them.
"When you look at all the various products we make and the global nature of our businesses, it really does make for a pretty complicated set of suppliers," says Tom Hattier, shared sourcing services manager for GE's corporate initiatives group.
Source: Industry Week