What is Supplier Lifecycle Management (SLM)?
Supplier Lifecycle Management (SLM) is a comprehensive approach to managing a supplier's engagement with an organisation from selection to end-of-life. It covers the entire journey, including onboarding, performance assessment, risk management, compliance, and offboarding. SLM ensures suppliers meet the organisation’s standards throughout their partnership, involving continuous monitoring and evaluation to optimise performance, reduce risks, and enhance supply chain efficiency. By systematically managing each phase of the supplier relationship, organisations achieve better collaboration, innovation, and cost-effectiveness.
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What is Canopy CONNECT?
Canopy CONTROL is a Supplier Lifecycle Management (SLM) platform designed to safeguard businesses from non-compliant and high-risk suppliers by providing complete data visibility and performance controls. It utilises automated actions and rules-based algorithms to monitor supplier risk and performance, enforce compliance, and integrate seamlessly with ERP systems, ensuring a best-in-class, efficient, and compliant supply chain.
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Summary
Supplier Lifecycle Management technology elevates supplier data management and streamlined onboarding to deliver advanced control and full supply chain relationship management.
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Key features and benefits
Monitor Performance
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Track and Evaluate Supplier Performance
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Define and track supplier metrics and KPIs.
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Identify underperforming suppliers and take corrective actions.
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Optimise supplier base for efficiency and cost reduction.
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Real-Time Decision-Making
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Instant evaluation of data and application of rules.
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Respond quickly to supplier-related events.
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Access real-time insights for faster issue resolution.
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Monitor and Report on ESG & Diversity Performance
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Generate reports and dashboards on ESG and diversity metrics.
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Track KPIs and measure progress towards sustainability goals.
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Ensure transparency and accountability throughout the supplier lifecycle.
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Mitigate Risk
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Identify Risk and Plan Mitigations
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Identify and mitigate supply chain risks.
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Automatic notifications and remedial actions.
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Make informed decisions about supplier selection.
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Set Compliance Needs at Macro and Micro Levels
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Verify suppliers based on local and jurisdictional criteria.
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Select suitable suppliers for specific projects.
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Centralise Rules and Localise Decisions
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Define governance models centrally.
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Allow on-site managers to make localised decisions.
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Ensure quality oversight and prevent costly mistakes.
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Enforce Compliance
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Set Compliance Requirements Across All Departments
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Assess financial, anti-bribery, data security, and other risks.
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Ensure suppliers remain compliant with accurate information.
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Work Flexibility and Adapt Rules as Needed
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Easily modify rules for changing business needs.
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Adapt supplier management to new policies and regulations.
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Define Compliance Needs Locally
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Verify suppliers for specific countries, categories, and sites.
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Ensure compliance down to individual site visitors.
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Integrate ERP
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Instant Onboarding into ERP
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Collect and update supplier information automatically.
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Reflect accurate supply chain data in ERP.
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Enhance Visibility and Control
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Interface directly with ERP for PO and invoice availability.
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Configure ERP based on supplier performance and compliance metrics.
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Robust Risk Management Capabilities Complement ERP Systems
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Assess and monitor supplier risks.
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Implement risk mitigation strategies within ERP.
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Safeguard operations and enhance supply chain performance.
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