Siemens’ ability to deliver quality, availability, productivity, and innovation throughout the entire supply chain is crucial to our commercial success. To ensure we select our suppliers with care, we cross-functionally select them. Its products are among the best and most innovative on the market, and it continues to develop faster than other companies. Through Siemens, a global technology leader, proven suppliers are able to access worldwide markets. As well as expanding their product, solution and service portfolios sustainably, they can also increase their customer base.
Finance for Supply Chains at Siemens
Supplier Finance @ Siemens (SCF) is a financing and sales tool for a Siemens supplier which is independent from banks, facilitating the collection of receivables under attractive terms, regardless of the actual value of the receivables. By optimizing cashflow and working capital, the receivables administration costs can also be minimized. Additionally, Siemens Financial Services organizes collaborations with the business partners involved in the program.
Ready for business: How to get there
SCM STAR, our standardized company-wide IT application, is used for registration and qualification of suppliers. In the first step, suppliers are required to register and provide all their relevant details, along with a commitment to comply with our standards and principles on sustainability in the supply chain, as outlined in our Code of Conduct . Various categories, such as product/service portfolio, determine which modules are completed. Some of these are, for example, Corporate Responsibility Self Assessments (CRSAs) or pledges to comply with specifications in the areas of environmental protection, health management, and safety.
Suppliers who successfully complete these steps receive the status “Ready-for-Business” (R4B) and are allowed to participate in electronic invitations to tender and auctions.
With each other, we can improve even more
Besides focusing on innovative products and solutions, our collaboration with our suppliers enables them to continue their development. The performance and risk assessments conducted by our company in conjunction with our strategy form the basis of development measures. Those goals are set out in a target agreement, and they are implemented in collaboration with our suppliers. In order to achieve this, they need to optimize their performance and cost position, as well as identify and mitigate any risks at an early stage. Thus, we continually strive to improve ourselves in our rapidly and constantly changing environment to ensure future competitive advantage
By working together, we can create value
With Siemens Supply Chain Management, you can fully utilize the opportunities of global purchasing markets, while also providing dependable, end-to-end supply chains. Because of this, we are selective about which suppliers to work with. With them, we contribute in a meaningful and lasting way to our partners’ and customers’ success. The result is crucial competitive advantages.