To satisfy the ever-growing compliance mandates from customers, retailers, regulatory and internal departments and optimize their supply chain, manufacturers now realize that they need to gain control of their supplier information and risk management processes. In order to do so efficiently, they turn to collaborative technologies.
What is Supplier Compliance and Risk Management (SCRM)?
Achieving and maintaining ISO, SQF, BRC or other quality/safety certifications, requires continuous assessment of risk and continuous management and documentation of compliance with them. As Sourcing works with their R&D and Regulatory/Compliance organizations to find and ‘approve’ suppliers, they practice SCRM to help ensure safe, timely and compliant delivery of quality materials. Once all of the required inspections are complete, documentation is provided and compliance is achieved, the Supplier is approved. To remain in compliance, the ‘expiration dates’ on all provided documents and certifications must be diligently monitored.
As the number of regulations, materials, suppliers, documents and touch points increase, companies turn to technology. A dedicated SCRM solution collaboratively manages the collection, review, approval and publishing of documents and information for easy retrieval and export to downstream systems. Automated expiration-date tracking, allows the automation of reminders/notifications, dunning and recertification to keep the process sustainable, ensuring accuracy while minimizing costs and cycle times.
A cloud-based SCRM platform simplifies the entire process into a single, common collaborative interface between buyers and suppliers improving visibility, providing comprehensive supplier compliance data, and establishing stronger supplier relationships.
OakBarrel Software’s Supplier Compliance and Risk Management solution is the industry’s most advanced and comprehensive solution for maximizing Supplier engagement, ensuring data quality and automating and maintaining Supplier compliance information.
Collaborative Portal minimizes cycle times and improves data quality.
Online access to approved supplier lists with preference and risk ratings allow for better decision making.
Automated workflows, reminders, dunning and re-certification: Creates a sustainable process to keeps you in compliance, audit-ready.
- Self-service Supplier and Site Collaboration
- Review and Approval routings
- Preferred Supplier List
- Automated Re-certification and Reminders
- Behavior-based risk assessment
- Easily search large volumes of supplier data
- Single point of data entry and document control
- Publish approved compliance information
Easy Setup & Live in 5 – (5 steps in 5 hours)
- Customize Site/Emails with your branding
- Create Users
- Select Optional and Required Compliance Documents
- Invite Suppliers
- Start Collaborating
Advanced Capability Plugins for
- Supplier audits
- Material management and compliance
- Packaging component management and compliance
- Co-packer management and compliance
Key Business Process Supported
- Scalable Supplier/Site Onboarding (may include MDM Request, Supplier Surveys, Vetting, Site Approval and Supplier/Site Certification).
- Supplier Visits, Improvement Plans and Strategic Development Projects.
- Mass Outreach or other types of Requests for Supplier Information.
- Integration into Material, Packaging and Service processes.
- Integration into PLM, ERP, QMS and SRM systems.
- Integration into Supplier Technical Information Exchange Network (TEINEX – by OakBarrel Software) and other purchasing networks.
Single Portal for Supplier Compliance and Risk Management
- Ensures accuracy, completeness and timeliness of information
- Maximizes engagement with internal, supplier and 3rd party information exchange
- Provides full visibility and control of supplier data and processes
- Aggregates data and documents and feeds downstream systems eliminating duplication and re-entry
- Actively manages expiration dates, document versions and meta data
- Eliminates manual effort to find expired documents
- Automates Recertification with scheduled, automatic creation and distribution of reminder emails
- Ensures information is current and documents are searchable
- Reduces the risk of a failed audit
Supplier Performance Management
- Rates supplier performance using Behavioral Risk Management to track every interaction for completeness, accuracy and timeliness
- Identifies performance trends earlier for proactive risk management and risk avoidance
- Promotes Supplier self-service, allowing suppliers to monitor and improve their performance