Supplier Performance Evaluation for Better Results
External suppliers are an indispensable asset to business organizations and a strong supplier base can act as a source of competitive advantage, and they have a great role to play in the success and failure of an organization.
Thus, having a formalized system in place to track and evaluate supplier and vendor performance is essential to evaluate supplier performance to mitigate risk and drive productivity.
In this whitepaper we will look at the various stages involved in supplier evaluation necessary to build a strong supplier-buyer relationship and achieve savings by:
- Tracking supplier performance to protect your brand or reputation
- Developing program for continuous suppliers monitoring and improvement
- Uncovering hidden cost drivers within supplier contract.
- Staying on top of your supplier relationships and improve collaboration