Managing supplier performance is not limited to procurement. It’s an approach and culture change to help cultivate more fruitful supplier relationships. Something that over time, drives value and innovation.
Supplier performance improvement is a collaborative process and is most effective when information from internal stakeholders, the suppliers, third parties and quantitative data can be amalgamated into one system.
Getting the most out of your suppliers is no longer just about bottom line savings. Research shows active management helps create more value in areas such as service, reliability, and innovation.
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