Many a time’s performance management initiatives within a supply chain are unsuccessful because they of a lack of structured approach to supplier Score Card (Performance measurement) and non-availability of right information. It is very important to improve supplier performance to have an effective and efficient supply chain.
The four best practices to improve are
Before developing scorecards, it is important to understand how supplier performance can affect the whole business. And for this one needs to reduce procurement cost, minimize supply chain risks, get new opportunities, and discover additional value from suppliers.
We at Enventure, will help you have better communication with the suppliers and maintaining score cards, as supplier performance is a key indicator for supply risks and may indicate trouble ahead. Our experts will help you indentify the signs and provide risk assessment and time to take necessary action.