Aravo Launches ‘SIM Made Simple’
SAN FRANCISCO-(Business Wire)-September 23, 2009 - Aravo Solutions, Inc., the leading provider of Supplier Information Management (SIM) and Supplier Risk Management software and services, today announced SIM Made Simple, a new resource area on Aravo.com that will offer best practices on a wide range of supplier management, risk, compliance and sustainability issues. The series will draw from Aravo’s experience managing millions of suppliers for some of the largest companies in the world.
The first best practice discusses “Turning Supplier Data into Supplier Intelligence,” which is a growing concern of many companies. According to a May 2009 AMR Research report, companies have been forced to increase their supplier management employee headcount and system resources by 35% in order to manage all the supplier data at their disposal, and they often spend $1000 per supplier per year to manage supplier information across the enterprise.
SIM Made Simple details how when supply chain professionals have the right systems in place to manage supplier information – they have more than just supplier data, they have supplier intelligence. Ultimately, companies should be able to accelerate time-to-value in supplier information management programs by:
- Setting up a rating system for suppliers
- Having an early warning system for issues
- Having pre-determined mitigation plans for various supplier risk scenarios
- Knowing their suppliers' supplier
To read more about “Turning Supplier Data into Supplier Intelligence, visit SIM Made Simple on Aravo.com.
About Aravo Solutions
Founded in 2000, Aravo reduces the cost of managing supplier information by up to 72%,1 according to leading analyst firm AMR. The world’s largest companies trust Aravo to manage their global supplier information. Aravo's core product, Aravo SIM, reduces costs by automating supplier management, and providing real-time data that makes supplier relationships more cost effective thereby reducing risk. From supplier management to risk management to supply chain sustainability, Aravo’s Application Suite solves today's most demanding supplier information management challenges. For more information, visit www.aravo.com.
1 Rizzo, M. N. (April 28, 2009). GE lights up supplier management with Aravo. AMR Research.
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