Supply Chain Monitoring, Coordination & Analytics
Organizations are under significant pressure to do more with less. Even if investments in tools have been made, visibility into information is available, and processes have been established, you may still face the challenge of properly leveraging the information and supporting all the processes due to time constraints.
Beyond data processing and back-office activities, HICX offers further value-added services to redeploy internal resources. By monitoring, coordinating, and providing analytical insights, we support business processes – enabling management by exception.
Browse Our Supply Chain Monitoring, Coordination & Analytics Offerings:
Risk Management
By maintaining immediate, transparent access to your organization’s supply chain risk through constant quantitative and qualitative monitoring, HICX provides constant insight into risk exposure. We can help you by:
- Analyzing and identifying relevant risk from suppliers, using a predefined set of rules and external data sources
- Gathering and standardizing all your relevant compliance documents
- Collecting and managing risk surveys from suppliers
- Reviewing and assessing surveys and flagging them for follow-up
- Supporting coordination of follow-up actions and tracking status to their completion
- Designing and executing reports to support risk reporting needs
Performance Management
HICX helps companies manage the transactional aspects of supplier performance, so your team can focus on managing the relationship rather than chasing data from internal stakeholders and suppliers. We can help you by:
- Defining and setting KPI scorecards for suppliers
- Collecting and managing performance surveys from suppliers and internal stakeholders
- Reviewing and assessing surveys and flagging them for follow-up
- Designing and executing reports to provide you with real time alerts, opportunities, and insights
Audit Coordination
The coordination of audits with suppliers is generally an inefficient use of internal resources. It can often take months to align your audit team comprised of internal resources, a third party auditor, and the suppliers. HICX can help by:
- Supporting supplier selection and audit planning
- Communicating and briefing with suppliers around audit scope
- Coordinating to schedule audit dates together with the supplier and auditing firm
- Centralizing and managing all documentation and follow-ups
Supplier Id & Segmentation
HICX helps organizations identify and segment suppliers to help simplify and manage niche rosters and reporting, including strategic, preferred, diverse, small, low-cost country, and green. We can help you by:
- Identifying a potential fit for your required segmentation, from your existing data sources
- Matching against external sources
- Performing required outreach, via telephone, email, system generated, or other
- Collecting supporting documentation
- Aggregating results, providing reports, and supporting credentials as needed
- Maintaining existing segmentations
Spend & Process Analytics
With the increased emphasis on bottom-line results, the scope and responsibilities of Procurement has expanded. Procurement resources are often stretched to their limit by digging deeper into data and contracts to identify viable savings opportunities, working with suppliers to extract more value out of existing relationships, and improving processes to gain additional efficiencies.
HICX operates as an extended analytics and reporting team, providing analysts on-demand and assisting with data analysis/insight by:
- Preparing supplier analysis and benchmarks
- Preparing category analysis and benchmarking
- Preparing opportunity/situational analysis
- Providing standard reporting
- Fulfilling ad-hoc data requests and analytics
- Defining and measuring standard KPIs (e.g., PO penetration, after-the-fact PO, catalog penetration, maverick spend, supplier rationalization, onboarding cycle times)
- Preparing management reports, dashboards, and presentations
Value Proposition
Your business succeeds or fails on the quality of the critical business decisions you make. Effective action requires the right information, in the right format, at the right time. With HICX, you can leverage our experienced analysts, economies of scale, and unmatched expertise in procurement, category, and supplier analytics. HICX’s Supply Chain Monitoring, Coordination and Analytics offering can help you succeed at a much lower cost – and free up your resources to spend more time on core business activities.
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