Supplier Collaboration Program Automated End-to-End Purchase-to-Pay Process for BASF
Wayne, PA and Frankfurt, Germany – July 5, 2016 – Elemica, the leading Supply Chain Operating Network for the process industries, announces that the company has won a Supply & Demand Chain Executive’s 100 Supply Chain Projects Award. Supply & Demand Chain Executive, the executive's user manual for successful supply and demand chain transformation, has chosen Elemica for its supplier collaboration program for direct materials that automates the end-to-end purchase-to-pay process from purchase requisition to invoice for BASF. The result of this continuing project has been a faster onboarding of suppliers, streamlined supplier acceptance process, lowered transaction costs and reduced cost for BASF when scaling with other customers.
“Simplifying and streamlining the invoicing process helps companies to effectively meet compliance requirements and to improve overall business performance by minimizing the time and money spent handling invoices,” said Sergio Juarez, Chief Commercial Officer at Elemica. “Replacing paper-based processes with automated electronic transactions, plus rapid onboarding of trading partners, results in significant cost reductions and enhanced operational efficiencies for clients like BASF. We are pleased to once again be awarded this prestigious award for driving innovation within the global supply chains of our clients.”
“Our goal with 2016’s SDCE100 is to shine the spotlight on successful and innovative transformation projects that deliver bottom-line value to small, medium and large enterprises across the supply chain,” says Ronnie Garrett, editor of Supply & Demand Chain Executive. “The selected projects can serve as a roadmap for supply chain executives looking for new opportunities to drive improvement in their own operations. We congratulate all of our winners for a job well done!”
“Procurement organizations need insight into their processes to transform and further develop their procurement operations. Supplier collaboration programs leverage technology and relationships to drive the ideal balance of inventory, working capital and service levels,” said Juergen Eberz, BASF Global Head of Procurement Processes and Systems.
BASF decided to select Elemica to establish a portal solution for purchase order and invoice handling for raw materials. The portal automates the following steps: supplier contact, track supplier open rates, campaign performance, self-training tools and automated PO flow in go-live. The supplier integration touch-points were standardized for strategic suppliers with high volumes of transactions.
“With our co-operation with Elemica, we contribute to establish their portal as industry standard, providing one solution to all stakeholders – suppliers and customers,” Eberz concludes.
The SDCE100 is an annual list of 100 great supply chain projects. These projects can serve as a guide for supply chain executives who are looking for new opportunities to drive improvement in their own operations. These projects show how supply chain solution and service providers help their customers achieve supply chain excellence and prepare their supply chains for success.
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Supply & Demand Chain Executive is the executive's user manual for successful supply and demand chain transformation, utilizing hard-hitting analysis, viewpoints, and unbiased case studies to steer executives and supply management professionals through the complicated, yet critical, world of supply and demand chain enablement to gain competitive advantage. Visit us on the web at www.SDCExec.com.
Elemica is the leading Supply Chain Operating Network for the process industries. Elemica transforms supply chains by replacing manual and complex approaches with efficient and reliable ones. Launched in 2000, customers like BASF, BP, Continental, The Dow Chemical Company, DuPont, The Goodyear Tire & Rubber Company, LANXESS, Michelin, Shell, Solvay, Sumitomo Chemical, Wacker and more process nearly $400B in commerce value annually on the network. Elemica drives bottom line results by promoting reduced cost of operations, faster process execution, automation of key business processes, removal of transactional barriers, and seamless information flow between trading partners. For more information, visit www.elemica.com.