Supplier Performance Evaluation can be challenging.

About 65% of innovations are sourced through external suppliers and partners (ISM). This makes supplier and partner contributions to a business’s production and profitability, very important. 

Unfortunately for many procurement teams, gaining basic buyer insights, from their supplier base, such as contract, spend, performance, risk, and compliance data isn’t so easy to get a hold of, or begin to analyze. In even the most mature of procurement organizations evaluating and managing a supplier base’s performance can be difficult. 

Your CPO looks in your direction at the next team meeting, and asks, “What supplier has performed best in Category X, Y & Z during Q1 & Q2?” 

Sure, you can try and shuffle through the rows and columns of your Excel Hell, build custom algorithms, and visualize a bar chart. But, within this scenario lies a question you must pose to yourself, and your broader procurement organization. Are you building procurement intelligence & insights that are driving supply chain performance forward, or are you simply reactionary in the way you obtain and utilize your supplier performance data at hand? 

Supplier Performance Evaluation doesn’t need to be so difficult.