North America's Motor Vehicle Manufacturer Empowers with Vendor Management
North America’s global leading manufacturer of commercial vehicles and diesel engines, with a wide range of offerings, recently switched to a vendor management solution in collaboration with Raapyd. As its digital transformation partner, Raapyd helped the production giant move from its in-house systems to a more prominent vendor portal that will allow it to organize its vendor management.
The auto manufacturer has an immense footprint, spread across 100 countries to focus on creation without compromise. The organization revolves around operating with the most advanced performance and excellent service for all its customers.
The Problem at Hand + Raapyd’s Take
The previous vendor management solution used by the manufacturer could not maintain streamlined operations for its multi-country operations. Keeping the same in mind, the company contacted Raapyd for assistance with its transformation.
We deployed a dedicated team to understand the extent of their operations and integrated vendor management portal into their operations, following which the company now enjoys:
- Streamlined Onboarding: Automated onboarding of new vendors, including document submission, compliance checks, and approvals.
- Document Management: Storing vendor documents, such as contracts, certifications, and legal agreements, in a centralized location.
- Performance Tracking: Monitors and evaluates vendor performance against key performance indicators (KPIs), such as delivery times, quality of goods/services, and adherence to contracts.
- Feedback and Reviews: Facilitates input from internal teams to assess vendor performance and maintain quality standards.
- Centralized Contract Repository: Access all vendor contracts in a centralized, easily accessible repository.
With Raapyd as its digital transformation company, the manufacturer now enjoys a 40% boost in production and a 32% customer retention rate. The change in vendor management is expected to add a strong 50% revenue in Q4 of their manufacturing operations.
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