Supplier Performance Evaluation for Better Results
External suppliers are an indispensable asset to business organizations as these depend on the former for procurement of raw materials, tools, equipment etc. In fact, some organizations spend up to 50-60% of their revenue to purchase from external suppliers. Thus, it is safe to believe that a strong supplier base can act as a source of competitive advantage, and that they have a great role to play in the success and failure of an organization. In this whitepaper we will discuss in detail why supplier performance evaluation is quintessential and look at the various stages involved in the evaluation.