IMPROVE SUPPLIER PERFORMANCE WITH AUTOMATED INTERACTIONS

Whether you manufacture auto parts, airplanes, medical devices, or generic widgets, there’s one fact you can’t deny: The majority of the value chain in most industries today is found outside the walls of the manufacturer. On average, 70% of product value is added by outside suppliers. In automotive, the industry that pioneered the extended manufacturing supply chain, that figure can be as high as 80%. The reality is that suppliers can make or break your manufacturing business. If one of them fails to deliver a part on-time, you could face an expensive shutdown. According to analyst firm Aberdeen Research, 82% of companies have experienced unplanned downtime over the past three years and that unplanned downtime can cost a company as much as $260,000 an hour.