Who is Impacted?
Arthur, a specialist on the Procurement team, is responsible for managing suppliers from whom ACME obtains raw materials and finished goods.
What is the Business Problem?
Beyond information that is provided by our suppliers, our organization really do not know much about our suppliers. From a marketing and procurement perspective key information to determine potential prospects and identify cross-sell and up-sell opportunities is lacking. Such information helps determine target market, leverage market segmentation, and enhances procurement processes to realize financial savings for various products and services.
This is because our supplier contacts may not be privy to such industry-related information, or the onboarding and enrichment processes do not require this level of information. In order to maximize our supplier relationships, we need to know more details of who are suppliers are, who they have relationships with, what their financial status is, etc. Such information provides valuable supplier and industry insight.
Current Process
Arthur and the Procurement team evaluates new prospective suppliers and approves them for ACME Company. During their evaluation process, it is often not enough to simply rely on the information the prospective supplier provides, and Arthur needs to conduct some additional research to determine eligibility. Since they do not have access to third-party industry data, it can be challenging for Arthur to make an informed decision on a supplier.
Future Process
With the introduction of third-party Dun & Bradstreet data, Arthur now has new insights into prospective suppliers such as credit and financial information, ownership structure, etc. Such data allows Arthur and their team to make informed decisions on prospective suppliers, as well as grow sales opportunities.