Managing and optimizing supplier performance is both critical and challenging. Price isn’t everything. Your suppliers may be invoicing you within the agreed pricing, but if the service isn’t up to the mark or if the goods are substandard, you are not going to hit the savings target.
Measuring, evaluating and keeping track of supplier performance are key to ensuring that your projected savings are realized. GEP SMARTTM gives you a comprehensive set of vendor performance management tools to optimize your relationship with suppliers in a way that best suits your business needs.
Supplier scorecards give you the power to capture quantitative and qualitative performance data, opinions and feedback about each supplier. You can build scorecards for a category, on a country-by-country basis, for a group of selected suppliers, or even a different scorecard for each supplier. It’s up to you. The software doesn’t tell you how to evaluate your suppliers, you tell the software.
The scorecards can run automatically, perhaps every quarter, and the results can come in from across your company, from production data that’s straight out of the ERP system or even from the supplier themselves – including from their ERP. All your suppliers’ performance scores and KPIs are linked to the supplier master data in GEP SMART. So the next time you’re talking to a supplier, you’ll have all the details you need for the discussion in one place – with just a few clicks or taps.