SupplyHive: Vendor Analysis — Supplier Performance Management solution overview, competitors, user considerations, analyst summary

This Spend Matters Vendor Analysis gives an overview of SupplyHive, a supplier performance management (SPM) solution built to enhance how companies assess their suppliers and continuously improve their relationships with them.

The supplier management market is broad and fragmented. Procurement organizations have their choice of point solutions for single areas of the supplier management lifecycle. They can also choose from broader suites, consulting firms and service providers that offer technology as an add-on to engagements. And, there are still many organizations that rely on manual work to manage their suppliers.

An additional challenge for SPM in particular is that performance for indirect sourcing can be very subjective. Also measuring it may involve a large number of people in the organization (the ‘end-users’ of the purchased goods and services) which represent an effort to collect and analyze feedback. For direct sourcing, a frequent challenge is how various departments, business units and even plants can have different expectations. It is therefore often difficult to have a clear picture of a supplier’s performance and an objective synthesis of all components and KPIs.

These are the challenges that SupplyHive set out to address by creating a tool leveraging savvy UX/UI design, a configurable and flexible (performance) data model and an apt use of natural language processing (NLP) to enable companies to build their supplier performance framework.

This Vendor Analysis provides an overview of SupplyHive, a look at the competitive landscape, selection tips and an analyst summary.

Here’s why SupplyHive matters:

To the market — SupplyHive helps companies manage supplier relationships and performance more efficiently.

To potential buyers — SupplyHive can address the challenge of having a clear and complete understanding of suppliers by giving companies the opportunity to structure and execute a clearly defined SPM framework.