Supplier information management (SIM) is a supply chain system which offers a full picture of supplier info. First, suppliers join an industry database by filling in a detailed questionnaire. Buyers can then access that data, to make informed decisions on which suppliers to work with. SIM systems help suppliers to achieve compliance, reduce risk and connect with buyers in the appropriate sector.
Supplier information management functions to organise and retrieve supplier data. SIM systems help to improve the quality of the database and to increase supplier engagement. The platform creates a system to enhance performance benchmarking, prevent duplicate work and offer real-time supplier data. When a business uses a SIM system, they increase their chances of working with a compliant and top-quality supplier.
How does a supplier information management system work?
A supplier information management system usually involves the following areas:
1. Data Collection: SIM systems collect detailed data on each supplier. The data is used to provide a complete view of the company. This might include documents related to environment and safety, finances or quality management.
2. Data Analytics: supplier information management systems can provide clients with data analytics, including reporting, scorecards or advanced queries.
3. Client Needs: SIM considers the workflows that the client is looking to achieve, and manages supplier info against these desired outcomes. External regulations are also taken into account.
4. Data Usage: supplier information management allows the client to integrate the supplier data with other data-related systems, for instance, campaign management.
What are the benefits of supplier information management?
For suppliers, there are many benefits to joining a supplier information management database. For example, you’ll get the opportunity to access the leading buyers within your sector. SIM systems require suppliers to complete a pre-qualification process, which helps suppliers adhere to buyer requirements. By joining a supplier community system, suppliers can access a streamlined tendering procedure.
Buyers use SIM systems to reduce the risks associated with working with the wrong supplier. With a detailed look at supplier credentials, buyers can vet suppliers against their requirements. Supplier information management systems act as a centralised place to access all suppliers. SIM platforms also offer fast and effective auditing procedures.
As part of pre-qualification, suppliers must achieve compliance regulations related to their sector. Buyers need to know that their suppliers are pre-approved and have the right accreditation. Through the application process, suppliers can identify any compliance gaps, and work on correcting these.
Why is supplier information management important for businesses?
Instead of spending time completing many tender questionnaires, a supplier database allows you to complete just one. As a supplier, SIM systems can save you time and improve your productivity. A SIM solution offers you visibility to a large number of buyers, which serves as an excellent promotion for your company. You can manage your supplier account, by updating your service codes, and ensuring that your info is always current.
When you submit your data for validation by a third party, buyers understand that you’re a trustworthy and credible business. No matter which industry you work in, credibility and trust are imperative. The auditing processes involved in SIM are particularly important for businesses in high-risk sectors.
Buyers can ensure that info is governed and controlled to high standards. They can use supplier information management systems to design specific workflows. These workflows can enforce external regulations and observe internal controls. Using SIM systems, buyers can monitor supplier metrics; short-list suppliers for a particular tender; and create supplier scores.
JVR Consultancy Services
JVR Consultancy helps companies to achieve compliance and accreditation. We work specifically across the industries of Utilities, Oil and Gas, Construction and Rail. In industries such as these, full compliance and high standards are crucial. To achieve compliance and elevate your performance, it’s advisable to join a security information management system (SIMS) database.
At JVR Consultancy we are compliance experts and operate widely recognised supplier information management databases. These communities connect the right buyers with the right suppliers. Achilles operates SIM systems across several different industries, including utilities, transport and oil. Supplier information management is the first step towards top buyer contracts, full compliance and enhanced credibility.
We can support your business by offering advice on Achilles accreditation and preparing you for Achilles auditing assessments. We have expertise supporting companies to achieve accreditations such as Achilles FPAL, Achilles UVDB Verify and Achilles Building Confidence. At JVR we also offer Gap Analysis services, to help your business resolve your compliance barriers.
Frequently Asked Questions from our Customers
Yes we can, we can assist you with any of the accreditation featured on our website. We have a 100% record of securing any of the accreditation in the first audit for all our customers for the last 13 years.
More to the point, I ask clients how quickly can you start. We can have a consultant working on your accreditation within the hour if you are ready. The only things that take time are the audit dates, these are issued to the client by the certification body so it is out of our control.
This depends on how much the client has in place already. The more they have, the easier it becomes to work on their accreditation. The gap analysis that we carry out is free of charge and afterwards will give you an exact fixed price.
The fixed price will include the following –
- Carry out all the work ( creating documents & processes tailored to your company )
- Attend the audit ( as your expert consultant ) or make the desktop submission.
- Make any corrections that the auditor may highlight to ensure that you obtain your accreditation the first audit.
Initially, we need to talk to you to carry out the free gap analysis. Afterwards, we would require you to forward all the relevant documents. After that, we can complete the work with the minimum of your input, leaving you to concentrate on doing what you do best for the company.
Yes! Let us Manage your Accreditations with Ongoing Support and Maintenance. With us managing your accreditations, your team can then focus on business growth and development. This gives you peace of mind knowing your compliance is being routinely managed by professionals. Ongoing support and maintenance avoids panic in your business when suddenly faced with an audit, knowing at all times you are well prepared.
Achieve Accreditation and Compliance with JVR
JVR Consultancy was formed in the year 2008 and their head office is based in Windsor and Maidenhead. We noticed that there was a gap in the market, for companies who work in the construction, rail, utilities, oil and gas sector who were not fully supported in the way that they could be when it came to industry compliance and certification. That is why our highly experienced team of compliance consultants can serve these sectors by providing over 135 years of combined experience with all compliance needs. In short, you won’t find anyone else who cares as much, or who tries as hard as we do.
Speak with one of our experienced consultants. At JVR, we know that time is precious, and you want the answers to your questions quickly, especially during an audit!. Once we speak with you for the first time over the phone, we need around 10 minutes to fully evaluate which accreditation you need support with and a brief introduction into you and your company.
Managing Director at JVR Consultancy, Steven Sandhu, is passionate and committed to supporting his clients within their chosen Compliance accreditation. With over 15 years of experience across multiple compliance industries, Steven prides himself on delivering 100% accreditation success for his clients, mixed with a passion for providing excellence by understanding the goals and the needs of his clients’ businesses. All this, combined with his strong breadth of skills and knowledge by routinely researching industry requirements changes and introducing new regulated requirements
Our consultants have an extensive level of experience in developing solutions and offering guidance for our clients and their businesses. We offer a free GAP analysis, which will help to assess the difference between your business performance and your goals. It’s a fantastic way for you to find out if your business needs are met, and if they aren’t, it gives you the insight and confidence you need to deliver improvement before an audit. Learning more about what is Gap Analysis and how will the report benefit you.
With a success rate of 100% and a team who will go above and beyond to make sure that your expectations are met, you know that you can trust in us to provide you with the knowledge, resources and expertise you need to make a difference. Contact us today to find out more.
To identify the objectives and benefits that are needed to achieve your desired level of compliance, we offer a FREE, no-obligation Gap Analysis. Our analysis will assess your current systems and documentation. Just start your journey by filling in the form below, and one of our specialists will contact you (typically within one working day) to make arrangements.
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