Supply Chain ‘Shifters’

SupplyShift Staff

March 01, 2017

Supply chains are playing an increasingly integral and impactful role for large businesses — and efficient supply chain data management is key to staying ahead of the curve. This month we signed a new partnership with Tradeshift, a global cloud-based collaboration platform that connects the buyer and supplier business processes. Tradeshift specializes in improving business processes like AP automation, procurement, supplier management and working capital optimization.

The partnership will give Tradeshift’s over 800,000 customers access to responsible sourcing processes and better performance and risk assessment of suppliers. Supply chain optimization is a fundamental business tool and proper vetting and onboarding is essential — independent of deal size, supplier size, or spend volume. Without it, there is always the risk of finding your organization plastered on the front page of the latest newspaper article due to a scoop about issues in your supply chain. New and existing suppliers need to be assessed based on performance, risk, and compliance before becoming part of your value chain and before business processing kicks in.

Increased supply chain transparency and reduced risk as a result of supplier assessment process are essential for organizations of any size across all industries. It’s clear to everyone now that poor supply chain performance, in terms of social or environmental responsibility, has a visible impact on your organization’s growth and efficiency. Notwithstanding the inherent risks, we still see relatively few organizations working with their supply chains across all tiers. In fact, according to recent surveys, only an estimated 30% of Fortune500 companies engage with their supply chains today. A lot of the problems can be solved with proper tooling, and while SupplyShift is bringing a lot of value-add to buyer companies, the supplier stands to gain, too. Feature sets like pre-populating surveys, cascading, multi-tier questionnaires, and shared analytics make the supply-side of life much easier while generating a mountain of valuable and easily accessible information about their position within the chain, as well.

Realizing the integral, impactful role of supply chains for all types of businesses, the ability of Tradeshift customers to leverage SupplyShift’s capabilities for better performance, compliance and risk assessment of their suppliers will have a positive impact on risk reduction. Reduced volatility and uncertainty in a more secure and sustainable supply chain are good qualities to seek out for both the top line and the bottom line.

We are excited about this new partnership and are looking forward to lots of success stories in the near future.

“Our partnership with SupplyShift is integral to the Tradeshift mission of facilitating collaboration between buyers and suppliers. This partnership will provide our customers and extensive network of suppliers the data necessary to make informed business decisions and eliminate risk within their supply chains so they can confidently scale their businesses,”

-Adit Gupta, Director of Partnerships, Apps and Ecosystem at Tradeshift.

We are excited about this new partnership and are looking forward to lots of success stories in the near future.

SupplyShift Staff

March 01, 2017