Rootstock Software launched Digital Supplier Collaboration as part of its Fall ‘22 product release. This feature will help manufacturers foster resilient supply chains, as they’ll now be able to source upstream suppliers using Rootstock’s new Supplier Request-for-Quote (RFQ) capabilities.
“Today, supply chain disruptions are the new normal,” says Raj Badarinath, chief product officer at Rootstock. “Facing increased volatility, manufacturers need to be able to receive timely digital signals, so they can oversee their ‘plan-source-make-deliver' cycle. Rootstock provides such insights, enabling manufacturers to manage their supply chains, as well as source and collaborate with suppliers – all this from within our ERP solution. In essence, they have the visibility to mitigate disruptions as they emerge.”
These days disruptions span various types of incidents, including regional conflicts, labor disputes, port congestion, climate-related catastrophes, inflation, the energy crisis, tariffs, and more. In the past, manufacturers focused on a few suppliers who accounted for most of their costs. But, in today’s conditions, even the smallest item, like a single, missing computer chip, can halt production. As a result, manufacturers are modifying their strategy to identify upstream issues that could have a show-stopping impact on production – and therefore, revenue.
“In these turbulent times, supply chain leaders are striving to build in resilience, especially with lengthening lead times. Toward this end, they’re collaborating closely with suppliers to address global supply chain risks and coordinate strategies such as near-shoring. In addition, the way this process was handled in the past – using spreadsheets and email – must be modernized and brought into the digital age. Rootstock ERP enables online RFQs that can be broadly disseminated and managed via a digital marketplace.”
Rootstock’s supply chain features and benefits include:
Digital sourcing. Rootstock provides an automated process to source new and alternative suppliers. Interactions with potential suppliers can be orchestrated via a cloud community portal. Manufacturers post requirements for parts, materials, or supplies and invite suppliers to provide quotes. Manufacturers then review responses side by side and select competitive bids based on costs, availability, lead times, and reliability.
Supply chain dashboards. With the Rootstock platform, manufacturers can configure dashboards, so all relevant data is displayed in one place. These dashboards summarize key metrics, including supplier performance in terms of on-time deliveries. Manufacturers can see whether supply chains are on track or experiencing issues. These dashboards provide a snapshot of the company’s overall supply chain health and offer drill-down capabilities to expose issues that should be addressed.
Real-time supplier collaboration. In the past, files and data were exchanged via email. In today’s volatile conditions, this information would quickly become outdated, leading to confusion among manufacturers and suppliers. Rootstock fosters real-time collaboration, as manufacturers can instantaneously share data and communicate via Slack.
Reducing supply risk. Using Rootstock’s online portal and platform tools, manufacturers and suppliers can work together to develop risk mitigation strategies. In this way, they can troubleshoot issues and avoid shortages before they affect production. Through all these processes, the relationship between manufacturer and supplier can vastly improve.