Technology Enabled Business Solutions
Comments: No Comments
Functionality: What does it do?
Vendor management is the process of coordinating vendors and suppliers. It includes activities such as selecting and approving suppliers, reviewing qualifications, negotiating contracts, ensuring quality, and compiling required documentation. KTL’s vendor management/supplier approval system provides a web-based tool to effectively approve and manage vendors and suppliers. It enables businesses to control costs, minimize potential risks related to vendors/suppliers, and meet regulatory requirements (e.g., Food Safety Modernization Action (FSMA) Foreign Supplier Verification Program (FSVP) Rule).
Benefits: Why do you need it?
KTL’s web-based supplier approval system:
- Provides a checklist to ensure all vendors and suppliers meet required criteria (e.g., certifications, licenses, performance history).
- Manages vendor and supplier-specific requirements.
- Stores and organizes supplier documents and records; suppliers can upload their own documents in a secure folder (if external user access is allowed).
- Enables facilities to conduct and manage vendor evaluations.
- Sends email notifications of supplier-related compliance deadlines.
- Power Automate (for email notifications)