What is meant by Supplier registration?
"Supplier registration" refers to the process whereby suppliers are onboarded into a company's system to facilitate business relationships. During this process, suppliers provide relevant information about their company and capabilities to assess their suitability and compliance with corporate standards.
Typical software functions in the area of "supplier registration":
- Registration form: Providing a structured template for suppliers to enter information such as company profile, contact details, and business activities.
- Document upload: Capability for suppliers to upload required documents, such as company certificates, tax documents, or product catalogs.
- Automated validation: Checking the submitted information for completeness and plausibility through automated systems.
- Compliance check: Comparing the provided information against internal policies and external regulations to ensure compliance with standards.
- Risk assessment: Evaluation of the supplier's financial stability and reliability based on the registered information.
- Approval process: Workflow for reviewing and approving supplier registration by relevant stakeholders within the company.
