Supplier Learning Center

Glossary of Terms

RFX:            
The term “RFX” refers to the following documents: Request for Information (RFI), Request for Quote (RFQ), and Request for Proposal (RFP).  Within the Interchange SRM system’s Enterprise Sourcing module, the contract negotiator will create the “RFX” from a template, which could be a RFI, a RFQ, or a RFP.  The title of the document will specify the type of RFX document to be created.

Interchange SRM Workbench:            
The Interchange SRM Workbench is a customizable home page within the Interchange SRM system containing information pertaining to all your sourcing events.  Such features include an interactive calendar populated with event reminders and key deadlines, additional project management tools, easy access links to your sourcing activities, discussion rooms, and links to commonly accessed sites, online training and technology support resources. 

Interchange SRM Toolbar:            
The Interchange SRM Toolbar (or toolbar) refers to the menu at the top of each page within SRM.  The main toolbar on the Workbench contains the Spend and Compliance Module (not utilized by Broadlane), Enterprise Sourcing module, Contract Management module, and Supplier/Client Management Module.  Within the modules, there will be additional toolbars that direct you to various actions such as attaching a document, creating a discussion thread, approving a contract, creating a contract document from a project, etc. 

Electronic Notification:            
When sending documents back and forth, invitations to various sourcing, events or communication regarding sourcing events between parties, the Interchange SRM system generates electronic notifications to alert the other party in two ways.  If the functionality is turned on, the Interchange SRM system will generate an email to the other party’s email account.  Additionally, users will receive electronic notification within the Interchange SRM system in the form of an alert on the user’s Workbench. 

Check-In/Check-Out Feature:            
The check-in/check-out feature within Interchange SRM allows the Suppliers and Broadlane employees the ability to reserve a document for editing purposes.  While one user checks out the document, all other parties are restricted to read-only access to preserve version control.  The user will check the document back into the system once all edits are made.  This is an iterative process and all versions of the document that are uploaded to Interchange SRM will be automatically stored within Interchange SRM for archival purposes. 

eSourcing:            
E-Sourcing is the utilization of the latest web-based tools to automate traditional sourcing processes including sourcing strategy, supplier selection, and supplier qualification, request for information, and proposal processes, contract negotiation, contract management, and supplier score carding.  Interchange SRM will enable Broadlane to reduce cycle time by providing existing templates for projects, RFXs, and contracts, and efficiently and effectively communicate with suppliers and customers.

SRM:           
 Supplier Relationship Management (SRM) is the coordination of all interactions with a supplier base in order to maximize value. SRM focuses on the people and processes that establish and deliver value; for example, knowing suppliers' capabilities, collaborating internally on sourcing, following a structured, repeatable contracting process, conducting performance assessments, and implementing supplier governance.