Our clients tell us that there are three primary benefits they get from Panjiva’s intelligence platform:
1) Make Better Use of Time
Today, sourcing organizations have to do more with less. In this environment, your team can’t afford to waste time on low-value activities. With Panjiva, your team will never again spend months building lists of potential suppliers — or waste weeks visiting suppliers that were never worth your team’s time. Instead, your team can build supplier short-lists in minutes and focus their on-the-ground research on suppliers that have a reasonable chance of being a good fit. Similarly, your team will no longer need to scavenge for information about how healthy your suppliers are or what your competitors are doing. With the world’s best sourcing intelligence at their fingertips, your team can focus its time on taking action, instead of collecting data.
2) Reduce Costs
With Panjiva, you can cut out activities that waste not just time but also money, such as visits to suppliers that were not remotely a good fit. Perhaps more importantly, Panjiva can help you reduce your cost of goods sold. Use Panjiva to find a supplier that can provide you with products at a lower price. Or negotiate harder with your existing suppliers, knowing that you have back-up options. Finally, use information about your existing suppliers to identify the moments when you have maximum leverage on price — for instance, when your supplier’s other customer relationships are declining.
3) Reduce Risk
Your suppliers create risks for you. Panjiva helps you reduce the risk of supplier surprises. Get a warning that one of your suppliers is in financial trouble, and you can save your company hundreds of thousands of dollars. Receive a notification that your supplier has landed a major new customer, and you will have the opportunity to find alternative sources before prices rise or capacity disappears. There’s no silver bullet for managing risk in the global supply chain, but having the best available information at your fingertips gives your team a fighting shot at spotting risks before it’s too late.