1 Reply Latest reply on May 15, 2013 12:36 PM by Kaustubh M

    Vendor Master File Ownership?

    Lindsey Marrazzo Newbie

      Global Procurement works with the business units to drive spend to preferred suppliers.  As we roll out more categories of spend on our P2P system, compliance measurement becomes even more important.  In measuring compliance, it is often a struggle to get accurate figures when we discover that supplier have been mis-categorized or coded into the system with the wrong industry classification.  Would it make the process more fluid if Global Procurement owned the master vendor file?:  What is best practice approach for spend management? Should Procurement own the vendor master file or should Accounts Payable? Why?

        • Re: Vendor Master File Ownership?
          Kaustubh M Journeyman

          Global Procurement must own the vendor master file. Data harmonization, categorization and classification, benefits in reporting for spend management. Additional link up of common supplier at tier I and tier II does help better visibility into total spend. Identifying consolidated spend helps identifying saving opportunities, negotiation and risk assessment with the suppliers as a part of sourcing activity. Its in the best interest f the Global sourcing and procurement team to own it. Hope it helps

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