Digital Transformation in Automotive Supply Chain Management Workflow

Step 1: Supplier Onboarding

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Supplier Onboarding is the first crucial step in the procurement process. It involves identifying, evaluating, and selecting potential suppliers to partner with. The goal of this step is to ensure that only reliable and capable vendors are considered for future business transactions. During Supplier Onboarding, key tasks include: * Researching and shortlisting potential suppliers based on industry reputation, product quality, pricing, and delivery capabilities * Verifying the legitimacy and stability of selected suppliers through background checks and credit reports * Conducting thorough evaluations to assess the supplier's ability to meet business requirements and comply with regulatory standards By completing this step effectively, businesses can establish strong relationships with trusted suppliers, ultimately leading to increased operational efficiency, reduced costs, and enhanced overall performance.