An organization monitors internal performance using a variety of systems, databases, and tools; these same processes can be adapted for use in monitoring supplier performance.
The tools and criteria used to measure internal processes provide a structure and criteria to measure supplier performance both at the macro level (overall performance) as well as the micro level (an individual supplier’s performance).
Benefits that can be realized from monitoring supplier performance include: supplier selection, compliance to contract requirements, and process improvement opportunities.
Supplier performance monitoring need not be a complicated or expensive process; it does need a defined process with regular reviews to ensure it is both efficient and effective.
In today's expanding global marketplace, competition for market share and resources is fierce. Product margins are shrinking as costs for goods and services are rising as well as impacts from disruptions in the supply chain.
Monitoring supplier performance is a method to manage the risks from suppliers, take advantage of opportunities with high performing suppliers and look for supplier development / improvement opportunities within the supply base.
Supplier performance monitoring is a key element to managing suppliers.
Monitoring performance of suppliers can be overwhelming. What to monitor? How often should performance be monitored? What should be communicated to suppliers?
This webinar will look at monitoring supplier performance across several levels and present tools that can be used to make the process efficient, effective, and less daunting.
Anyone engaging and interacting with suppliers: