Managing the supply chain is one of the key aspects for the success of a business. Ensuring that your suppliers are reliable are being managed well is very important. Understanding the off-take of the product and maintaining the right level of inventory is crucial. Using a customized vendor management and accounts payable management solution like Invoicera will a go a long way in retaining suppliers and keeping them happy.
Each vendor must be monitored on a regular basis to ensure that the products and services are being delivered on time and are of the expected quality.
Here is an infographic that further explains on how to effectively create and manage a supply chain: