Purchasing and Procurement

    With Specright, you can easily manage suppliers and vendors, go to bid, and understand how sustainable your supply chain is. All at your fingertips.

    The State of Procurement

    Procurement professionals have a lot to juggle these days: they need to source sustainable products and packaging, deal with increasing product varieties, and manage more suppliers than ever. With the global nature of modern supply chains, it’s critical that procurement professionals better manage supplier relationships. While management systems exist, they fundamentally miss the biggest pain point when it comes to purchasing: the ability to manage specification data. Download our eBook on Why Specification Data Management is the Future of Supply Chain to learn more.

    Why Do Procurement Teams Need Access to Specifications?

    Specifications are, in a sense, a contract between a company and their suppliers of how something is made and the standards it needs to meet. It’s the DNA-level of data needed to make a product and can contain hundreds of data points in a single product or packaging specification.

    Learn how Taylor Farms is using Specright to increase supply chain visibility and better manage its suppliers

    The Importance of Specifications in Procurement Management Processes

    Without specification management, it’s virtually impossible for procurement teams to hold suppliers accountable and easily go to bid. The key to improve supplier management is to tie specification data to a supplier, creating a digital thread through your supply chain. By tying everything to a specification - for example quality management and contract management - and then linking that specificiaont to a supplier, everything is connected and only a few clicks away at all times. No more searching through spreadsheets, PDFs, or shared drives. When all of this data is linked, it becomes easy for procurement teams to put together a procurement plan and even a selection process for new suppliers.

    Take Action in Specright

    Execute Bids & RFPs

    Execute bids more efficiently & increase speed to market of your products

    Supplier Scorecard

    Real-time visibility into supplier performance + transparency = increased quality & decreased costs

    Like Item Finder & IQ

    Identify cost-saving consolidation and optimization opportunities

    Supplier Relationship Management

    Controlled document management, digital approvals, more seamless supplier communication

    Enterprise Collaboration

    It’s never been easier to work across packaging, product development, quality, and supply chain departments

    Reports & Dashboards

    Reduce bid prep time, analyze material usage, compare supplier performance and more

    Easily Track Supplier Performance

    With Specright, our out of the box reporting enables you to create supplier reports and dashboards in just a few clicks. For example, run a report showing all suppliers in-progress to tailor your follow-ups or chart showing suppliers by geography. With Specright’s Supplier Scorecard capability, you gain visibility into supplier performance so you can hold partners accountable and prevent issues from escalating.

    CASE STUDY

    Grimmway Farms Takes Control of Packaging

    As Grimmway Farms expanded the brands in its portfolio, each addition made managing packaging production difficult. Learn how Grimmway Farms used Specright to take control of packaging specs that resulted in time and cost savings.

    Supplier Scorecards

    Procurement organizations are starting to place a greater focus on creating supplier scorecards. However, the information needed to create a supplier scorecard is not easily available in most companies. With a specification data management platform, procurement teams can easily trace quality issues, understand what suppliers make what products, and even track pricing over time to make sure suppliers are performing as expected. When purchasing teams only do high level vendor management such as contract management, they miss the bigger picture of what’s happening in the supply chain.

    Supplier Scorecard for Procurement Management

    Manage Your Supplier Network

    With Specright, we make it easy for you to manage supplier documentation and processes so you can focus less on the paperwork and more on the partnership.
    Easily onboard new suppliers with our digital workflows and ensure the accuracy of information. You can even restrict what suppliers see within Specright using basic permissioning.

    Automate Procurement Processes

    Many typical management processes can also be automated in specright, ensuring compliance and making it easier for procurement professionals to focus on higher value work. For example, procurement teams can easily perform data audits to ensure the right specifications are being produced. Teams can also automate requests for supplier documents and set expiration dates to documents and contracts so new documents are automatically requested before they expire.

    Track and Report on Sustainability

    Many typical management processes can also be automated in specright, ensuring compliance and making it easier for procurement professionals to focus on higher value work. For example, procurement teams can easily perform data audits to ensure the right specifications are being produced. Teams can also automate requests for supplier documents and set expiration dates to documents and contracts so new documents are automatically requested before they expire.

    Requests for Proposals, Bids, and Purchase Requisitions

    Procurement teams are finding themselves needing to go to bid more - and faster - than ever. Whether it’s responding to events that disrupt global supply chains, the need to source more sustainable products, packaging, and raw materials, or being asked by supply chain management to find ways to save costs, the ability to bid quickly is critical. In Specright, purchasing teams can quickly select specifications or finished goods, select the suppliers they want to request a quote from, and trigger a bid within minutes in Specright. Furthermore, the vendor and supplier community can respond to the bid and ask questions within Specright, increasing supplier collaboration. It shouldn’t take months to prepare a bid – with Specright Exchange, simply select the specs you want to bid, the suppliers you want to participate, and launch your RFP. With a simplified process, you can save time preparing the bid and save your suppliers time by knowing you’ve sent accurate specs.

    Better Collaborate Across Departments

    When it comes to collaborating across teams, purchasing, quality, packaging, product development and operations need to be on the same page. With Specright, teams move from decentralized source of information - relying on each department to manage their critical data - to a single source of truth. By centralizing data and making it digitally available, across any device procurement teams can cut down on request for information for other teams - and other teams can easily find information that purchasing would typically hold.

    Better Collaborate Across Suppliers and Vendors

    We hear it all the time: suppliers in certain countries such as China have difficulty accessing procurement software of procurement management systems due to firewalls. At Specright, our customers are successfully using Specright around the world. Specright’s built-in metrics conversion capabilities also make it easy to ensure specifications don't get lost in translation.

    EBOOK

    Why Specification Data Management Is The Future Of Supply Chain™

    In this eBook, we discuss the evolution of supply chain data and how professionals ranging from packaging to procurement can leverage data to drive business outcomes.

    How can we help you with procurement?