Supplier Performance Management
As your e-Sourcing program matures, your team may be finding it increasingly difficult to find new approaches that produce the savings you once found with even very simple sourcing exercises. To find more savings, you need to expand your efforts, supporting more complex sourcing events and helping to create additional efficiencies in your company’s vendor relationships. Add to that a volatile economy, ever-changing legal requirements, and the need to protect your brand against low quality products or poor labor practices, and your team is dealing with more complex challenges than ever before. Supplier performance directly impacts company performance: cost, product quality and market competitiveness can all suffer because of an underperforming vendor relationship.
You need the visibility to effectively track and manage performance over time to drive continuous improvement. BravoSolution can help: our supplier performance management (SPM) solution helps you more effectively track and manage performance, compliance and identify risk, trends and problem areas. We give you enterprise-wide supplier development and performance management capabilities including scorecards, actionable alerts based upon configurable key performance indicators and alert rules, and exception-based corrective action plans and compliance reporting.
An essential component of a strategic sourcing strategy, BravoSolution’s SPM solution enables you to develop optimal relationships with strategic sourcing partners and gain visibility into the compliance and performance of the supply base. This visibility can help to advise compliance and risk mitigation programs, improve supplier relationships, and execute sourcing strategies.
SPM enables the full performance management lifecycle: from strategy development, to scorecard execution, to corrective action plan development.