Supplier Performance and Scorecards
Performance reviews are an annual rite of passage for employees but fewer than half of organizations have a process to review the performance of their suppliers under management. When you realize that most firms have as many suppliers as they do employees, this starts to seem like a problem with potentially significant consequences. Organizations that regularly assess supplier performance regularly achieve higher benchmarks than those without scorecarding programs.
Benefits of Supplier Scorecards and Performance Tracking
Increased Efficiency
Supplier scorecards can drive efficiency improvements by providing a consistent and easy-to-use evaluation method for evaluating suppliers.
Improved Performance
Consolidating data into supplier scorecards can help organizations to identify areas for improvement and track the performance of suppliers over time.
Cost Savings
Measuring and tracking supplier performance helps organizations to reduce costs by ensuring that they are sourcing from the most cost-effective suppliers.
Vendorful helps organizations maximize supplier value
Ready to dive in?
Whether you want to see how scorecards look or you're interested in seeing a point-and-click sourcing event, we're here to help you along with way. If you'd like to set up a conversation, we're ready to talk. And if you'd like to see some Vendorful videos and walkthroughs, we've got you covered.
