Introduction
Your friends are hosting a birthday party for their daughter, and they need the contact information for where you got the streamers and caps for the last birthday party you hosted, since their daughter loved those. Ah, you vaguely remember that you just borrowed some caps from your neighbor, and found the others stashed away in the corner of your storage room along with the streamers, so you have no idea where you got all of them from. Unfortunately your friends will have to fend for themselves now…
As expected, the stakes with larger companies are much higher than a birthday party, and involve multiple customers who rely on their services. However, quite often, such companies, too, face a similar problem– they lose track of the myriad of suppliers they procure materials from, while the data provided by different suppliers is also in their own native formats. The latter can be especially problematic since such fragmented data would prevent the company from having an accurate and unified view of their inventory, and their suppliers.
In fact, many more such issues arise the more such data is left disorganized and unstandardized. These could include-
- Data Duplication: Since suppliers often provide data in bulk, there are chances that this data might contain products that already exist in the target database, thus leading to unnecessary duplication. This would further make it next to impossible for companies to analyze data for pricing and rebates effectively.
- Disparate and Disconnected Data: A lack of standardization of data can also lead to data ending up in silos. This could be especially detrimental to the company if the different data repositories are spread across various geographical locations. If each branch has their own way of organizing data, then the central branch would be responsible for standardizing such bulk data in a short span of time, which could lead to many errors and inconsistencies.
- Onboarding New Suppliers: An extension of the above, onboarding new suppliers can also prove to be a challenge for companies that are unable to manage their data well. Unstandardized data is likely to occur in these cases as well, and handling it manually would only take up time, resources, and might be riddled with errors as well.
Our Supplier Connector model can aid companies with managing their data efficiently, and monitor it as well.
- While onboarding data from new suppliers, or while transferring data from different branches, our model will ensure that this data is standardized into the required format by our clients. Not only would this reduce tedious labour and save time, it would also eliminate the multiple errors that might come with manual standardization.
- Simultaneously, data is also cleaned and de-duplicated by this model, which allows for the target database to remain up-to-date and accurate.
Transform how you manage your data today!
