Supply Management
- Select the Supplier menu from the left navigation menu. (A supplier dashboard screen will appear on the right side of the navigation menu).
- Now Click the Add Supplier button at the screen’s top right corner. (A dialog box will appear on the screen)
- Fill in all the details in the text field and hit the Add Supplier button.
- You will see the supplier is added in the form of a list in the dashboard.
- Add products the supplier can supply, and also maintain key attributes such as the purchase cost of the product from the supplier and the lead time required to deliver the product from the supplier. These attributes will aid in demand forecasting using AI ForecxtIQ Models. (Note-A product can have multiple Suppliers)
- Based on the purchasing cost and lead time maintained for a product across suppliers, an average purchase cost and lead time are calculated at the product level.
Efficient supply chain management in ForecxtIQ is vital for accurate demand forecasting and inventory planning. By managing your suppliers effectively, you can streamline operations and improve your forecasting accuracy with ForecxtIQ’s AI-powered tools. Follow this comprehensive guide to add and manage suppliers in our supply chain management software.
Step-by-Step Guide to Managing Suppliers in ForecxtIQ
1.Access the Supplier Dashboard
- Navigate to the Supplier menu from the left-side navigation panel.
- The Supplier Dashboard will appear on the right side of the screen, displaying all existing suppliers.
2. Add a New Supplier
- Click the Add Supplier button located at the top-right corner of the dashboard.
- A dialog box will pop up. Enter the supplier’s details, such as name, email, contact information, and address.
- After filling in the necessary details, click the Add Supplier button to save.
3. Manage Supplier Details
- Once added, the supplier will appear in a list format on the Supplier Dashboard.
- Add the products that each supplier can provide and maintain important attributes, such as:
- Purchase Cost: The price at which the supplier provides the product.
- Lead Time: The time it takes for the supplier to deliver the product.
4. Advanced Supply Chain Management Software Features
ForecxtIQ offers additional features to enhance your supplier management:
- Create Multiple Contacts: Assign multiple contact points to each supplier for better communication and coordination.
- Add Products: Easily assign products to suppliers and maintain vital information like purchase cost and lead time.
- Mass Editing: Select multiple products and update purchase costs and lead times simultaneously for more efficient management.
5. Optimize Supply Management with ForecxtIQ AI Models
ForecxtIQ’s AI-driven models automatically calculate the average purchase cost and lead time for each product across multiple suppliers. This data is critical for refining demand forecasts, ensuring you can anticipate and meet inventory needs with accuracy.
By maintaining up-to-date supplier details, our supply chain management software helps you optimize inventory levels and reduce supply chain disruptions.
Managing your supply chain with ForecxtIQ ensures smooth operations, precise demand forecasting, and improved inventory control. Use this guide to streamline your supplier management process and make data-driven decisions that enhance business performance.