Optimization of the supplier performance management can be challenging and critical and yes, always remember that price is not everything. The vendor may be charging you according to the agreed price, but if the service and goods are not qualitative then you are certainly not going to achieve the target.
Constant monitoring, measuring and evaluating the supplier performance is a prime key so that your projected targets are realized. ProcureAvenue’s supplier performance management will assist you to optimize the relationship with your vendor which is in sync with your business requirements. Having this software as a part of your business is one of the best business practice for you due to its several advantages that can be listed as follows.
1. Get rid of supply chain disruptions and risks:-
If the company is not very familiar with the suppler then it would be difficult to put the measure that prevents interruptions and decrease the risk exposure. Our software will enable you to gain the deep visibility into the probable risk factor that the vendor may pose. Thus, you can put the remedial measures well in advance to decrease or eliminate such risks and disruptions.
2. Safeguard and enhance your brand and reputation:-
There are number of companies that have been disgraced because of their suppliers’ actions. Procure Avenue’s software will assist you to track the vendor performance against such indicators. This will help you to take corrective actions in advance and protect your brand reputation in the eyes of partners, stakeholders and customers.
3. Avoid expenses and attain savings:-
You can track variety of factors related to suppliers and vendors with the usage of our software. Lack of accurate and timely supplier information may have vast impact on the expenses and can stop you from attaining savings. Our software will enable you to track not only the performance of the vendor but also you will be able to get the information that will be helpful to identify the factors that leads to more savings.
4. Segmenting and ranking the suppliers:-
Just in accordance with the above mentioned point, this software is advantageous beyond the supplier managers in the company. For instance, now you can divide the vendors according to specific segments such as geographical location, functionality etc. And you can even rank them according to their performance data which is provided by the software. Such segregation can be useful when you want to make a procurement decision for the organization.
5. Collaboration with vendors:-
The data collected through our software will enable you to collaborate more closely with vendors. It has numerous benefits such as trust establishment, formation of mutual goals, continuous process improvements, performance management and value addition to the overall process etc. Ultimately, this will lead to beneficial and meaningful relationships with vendors.
So, what are you waiting for?
Install Procure Avenue’s Supplier Performance Management software TODAY and take your business to the next level….