Supplier Management Yields RewardsSupplier Management Yields Rewards

With the economy's slow march to recovery, companies continue to look for more ways to save money. To help, PeopleSoft Inc. has enhanced its software suite designed to help businesses manage supplier relationships and procurement and ultimately squeeze more costs out of their supply chains.

PeopleSoft Supplier Relationship Management 8.8, unveiled Monday, includes new collaborative tools that make it easier for various parties, such as buyers, engineers, and plant managers, to access and participate in the sourcing process. "Often, sourcing is a collaborative effort with many different people in different departments," says Bob Shecterle, VP of supplier-relationship-management strategy at PeopleSoft. "Now you can involve key stakeholders in process and manage through workflow."

New procurement functions let companies manage spending across all types of goods and services, including services that typically are based on deliverables and milestones. For example, a company can track the progress of a contractor from the creation of the work order through each job completed, such as pouring the concrete foundation, to the creation of an invoice when the job is done. Rate controls have been added to ensure that companies aren't paying more than what was negotiated at the time the contract was written.

The software, which ships in December, also includes automation that electronically links request-for-information, request-for-proposal, and reverse-auction functions. It also supports Microsoft Excel and includes an improved user interface and automated links between PeopleSoft's manufacturing planning tools and sourcing software.