The term onboarding refers to the ability to bring new suppliers to the supply chain finance system.
Honestly, the process of onboarding suppliers into a new system or process may sound like a daunting task, because you are asking companies to change their existing process and adopt a new one. For large and medium companies, the change may seem normal but for small companies this disruption may be a major roadblock to implementation. In order to successfully implement a supplier onboarding program, all parties, both buyers and suppliers, need to understand and appreciate all the benefits of the supply chain program.
5 steps to successfully onboard suppliers:
- Establish Goals: It is imperative to know upfront what the buyer wants to accomplish with the onboarding program. This step involves the identification of suppliers to participate in the program.
- Analysis & Segmentation: Includes an exhaustive analysis of suppliers to determine the onboarding strategy. By creating a targeted approach, buyers should be able to prioritize and focus first on suppliers who could benefit the most from the supply chain solution.
- Supplier Education: Creation, development and deployment of marketing campaigns to inform the suppliers about the benefits of joining the program.
- Registration in the Program: A self-service registration portal that guarantees suppliers an easy and quick way to register.
- Training, Support & Analytics: Provide training, materials and performance metrics to measure campaign success.
What challenges or resistance do you think companies would experience when trying to deploy a supplier onboarding program?
Supplier Relationship Manager