Supplier Performance Management
Tracking Key Performance Indicators (KPI's) against supplier performance is crucial to managing today’s global supply market. Maintaining relationships with high performing suppliers and keeping a close eye on downward trends is a key ingredient in enabling firms to achieve business performance excellence. A strong Supplier Performance Management (SPM) process that actively monitors business needs and supplier performance will limit risk, reduce costs, and increase value.
SPM couldn't be easier to use and manage, and furthermore it puts the power of evaluation in the hands of those who know your suppliers the best – you! You can develop custom scorecards to track your company-specific performance KPIs and set up sessions to evaluate over time. Your evaluators simply input the score when prompted by the system triggers, and SPM does the rest. The system produces graphical performance charts that drill into company performance, KPI trends, and supplier comparisons.
You now have the information you can leverage to make crucial sourcing pipeline and business decisions. And where this gets truly interesting is when we pull your SPM information into our Executive Analytics Suite to relate your vendor performance metrics to your spend data, sourcing pipeline data, and so on. That’s when your SPM information becomes sourcing intelligence.