New resource area on Aravo.com offers best practices for managing supplier risk, compliance, sustainability and other key Issues
SAN FRANCISCO, CA, 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 offers regular, actionable insights and industry best practices to supply chain professionals. The series focuses not only on the importance of deploying the right systems, but how such systems enable enterprises to transform tactical supplier data into strategic 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
The world’s best-run businesses utilize Aravo’s Cloud-based Supplier Lifecycle Management solutions and Supplier Risk Services to find and manage trading partner relationships, reduce supply chain risk, ensure global regulatory compliance and lower the cost of managing suppliers by up to 72%. Aravo launched the market’s first SIM/SLM solution in 2004 and has been the leading innovator in the space ever since. Customers such as General Electric, Accenture, and Boston University rely on Aravo to manage information and processes for over 2 million global suppliers. Aravo is based in San Francisco, with offices in Chicago, Dallas, New York, Portland, Monterrey, Mexico and Ahmedabad, India, and is backed by over $50 million in investment from Cisco Systems, Big Sky Partners, and others. For more information regarding Aravo’s award-winning solutions please visit our website at https://aravo.com.