Accelerate Supplier Qualification Onboarding to Improve Agility
According to Gartner, "CPOs have a fundamental responsibility to monitor and improve the performance of their supply base".
Gartner continues to mention that, "this research provides an outline of the key elements need to build a best-in-class supplier performance management strategy".
Here are some key findings from the report:
- Implementing a best-in-class supplier performance management (SPM) program is a resource-intensive activity that can be prohibitive to deploy with a large supplier population.
- Metrics used to measure supplier performance are often operationally focused and don't always reflect the full value provided by suppliers in supporting broader business goals.
- Supplier ratings are often disconnected from category strategies and how rated suppliers are managed.
Understand the importance of proper supplier performance management and how to leverage that data to improve your supply base.
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Gartner, Supplier Performance Management: It’s More Than a Scorecard, It’s a Strategy 22 February 2023, By Miguel Cossio GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.