The manufacturing industry has become increasingly complex as corporations leverage suppliers, vendors, contract manufacturers, distributors, agents, freight forwarders, and resellers on a global basis.
Often, manufacturers and their suppliers are subject to government regulations and service level agreements to ensure quality, adherence to statues such as hygienic facilities, sources for components, etc. It is imperative that manufacturers manage their third parties so they are compliant with regulations, trade and commerce laws and especially international restrictions on sourced components or raw materials (i.e. conflict minerals).
Hiperos provides the leading solution for managing and monitoring third parties. For the first time ever, manufacturers can accurately identify all of their third parties, understand what business they’re doing with them and automatically manage them in accordance with the risks that they pose – in a way that is efficient and cost-effective without stretching the bandwidth of already-burdened IT and Purchasing departments. By removing many of the current inefficiencies, siloed and duplicative efforts and by using technology to help you continuously assess, monitor and manage your third parties from onboarding, through risk determination, compliance requirements and performance needs, Hiperos helps you transform how you engage with your third parties.
- Improve the accuracy and quantity of supplier and third party information
- Manage third party performance and quality
- Reduce third party and supplier administration costs
- Ensure compliance with domestic and international regulations, trade and commerce laws
- Optimize speed to market
- React quickly to incidents with an always available audit trail