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SAS Solution for Supplier Relationship Management (SRM) Release 2.2 includes new supplier ranking capabilities, as well as enhanced spend analysis and score-carding to help companies make the most of their supplier relationships.
The supplier ranking capabilities would enable customers to reduce overall spend, mitigate supplier risk and improve their bottom lines, said Christine Kelly, SAS's global strategist for SRM.
The scorecard feature allows executives and others to select key performance indicators, pull together relevant supplier and purchasing data, and perform detailed analysis.
The spend analysis functionality aims to allow purchasing and commodity managers to review summarised supplier and commodity data.
With SRM, companies can collect, analyse and leverage all aspects of their supplier data and purchasing history to create an accurate overview of total spending, said Karen Peterson, a research director at analyst firm Gartner.
Companies can also rank their supplier base, match their business objectives with individual supplier performance, identify areas for cost consolidation and predict optimal procurement strategies, she added.