VIRTUAL ACCESS
The Web-based vendor management system can be accessed from anywhere in the world
Photo by: Bloomberg
Mining sourcing company Mining Web Index (MWI) will officially launch a Web-based vendor management system (VMS) next month to enable mining companies, service providers and vendors to conduct business in a corruption-free environment, the company says.
“Given the level of corruption in business today, especially in the mining industry, the VMS is a game changer. With the increased transparency between management and buyers, there is no room for corruption to take place,” says MWI founding director Jason Jones.
He notes that an unlimited amount of users can use the VMS.
“In using the VMS, the head of department has access to all the users’ account home page. This functionality eliminates any chance of corruption or misuse of the system. All transactions are recorded on the account home page of the user, as well as the relevant suppliers, promoting transparency and providing the head of department with evidence should suspicion or an irregularity arise,” explains Jones.
He further explains that when a preferred supplier replies to a request for a quote, the user will have access to the supplier’s company profile. Suppliers will manage their own company profiles
This profile will include information, such as the supplier’s industry experience, black economic-empowerment status, relevant certification and, if needed, a service-level agreement, as well as its products and services.
Further, in addition to being able to access a supplier company profile, the VMS user can use the query functionality – an instant messaging system between the user and the supplier.
“This function is included to enable the user to clarify any ambiguity regarding the quote.
Meanwhile, The VMS saves users and buyers time and money with its “one request, multiple quote” process, in cases where there are more than one preferred supplier in a specific category, Jones says.
“When a user requests a quote in a category, all the suppliers listed in that category will receive a notification that a request has been made and they can respond with their quotes through the system,” says Jones.
He adds that the VMS connects users to as many sourcing tools as they require, giving them access to additional suppliers, should the current suppliers not be able to meet the requirements.
“We had a soft launch of the VMS in January and received significant interest from companies in the mining, construction and engineering industries,” says Jones. MWI is negotiating the signing of contracts with mining companies that have decided to invest in the VMS.
He adds that MWI will reveal the names of some of the mines that have decided to use this business tool after the contracts have been signed.
Additional Benefits
Using the VMS does not require the downloading of any programmes. The system’s user interface is easy to use and the user can manage all operations, no matter their geographical location, from one site, says Jones.
He adds that the VMS categorises vendors by the products and services they are contracted to supply.
“Only the preferred suppliers listed in a category will be able to quote on a request made in that category, thereby preventing vendors from quoting on a product or service that they are not authorised to provide simply because they have a vendor number. “
Further, all requests, queries or any other informational transactions are recorded on the account home pages of the suppliers and buyers.
Jones says this serves the two-fold purpose of creating transparency between buyer and supplier, and enabling both parties to reassess the transactions, should there be a discrepancy.
The system also enables buyers to register any queries they might have. He says every company has different requirements that change over time regarding their vendor management needs.
MWI provides a dedicated development team that can develop any functionality needed to fit user requirements; this includes integrating the VMS into enterprise resource planning systems.
Jones highlights that an unlimited number of users can use the system and that using the system does not involve any licensing fees.