Supplier Performance and Financial Impact: Connecting the Dots.
Did you Know?
57% of business leaders recognize that greater transparency and control over supply chains are needed to minimize disruption-related costs and maintain operational efficiencies.
74% of Chief Procurement Officers choose operational efficiency as a primary objective.
40% of supply chain companies identified delivery delays as their biggest problem.
90% of procurement leaders said they need to view supply chain data by geography, but only 73% can easily access it.
The new economic, technological, and social realities have fundamentally shifted how suppliers perform. Manufacturing firms increasingly focus on their core competencies and consign to suppliers to design, develop, and deliver innovative, high-quality components. As a result, there is immense pressure on suppliers to perform well. As customers’ expectations evolve for quality products and services to be delivered on time, so does the need for companies to adopt best practices to improve supplier performance and exceed customers’ expectations.
What’s a Supplier Performance System All About?
Given highly interconnected supply chains, perfect supplier performance is seldom realized. Hence, the problems of consistently measuring and improving supplier performance become important. Underperforming suppliers simply means loss of money.
A robust supplier performance management system is critical in measuring and improving individual supplier quality, delivery, and service performance, and it goes a long way to meeting a company’s productivity profitability goals.
The Supplier Performance Whitepaper discusses what supplier performance metrics are, why these benchmarks are vital, and what practices you can follow to improve efficiency, accuracy, speed, and agility in managing your supplier performance.
DOWNLOAD YOUR FREE COPY of the whitepaper and find out how you can improve supplier performance.