supplier relationship management (srm)

How Can Leaders Measure SRM Success?

1. Supplier Performance Scorecards: These scorecards track key performance indicators (KPIs) such as delivery times, quality levels, and cost efficiencies.
2. Feedback Mechanisms: Regular feedback from suppliers can provide insights into the relationship's health and areas for improvement.
3. Cost Savings: Measuring cost savings achieved through effective negotiations and collaborative efforts can indicate SRM success.
4. Innovation Metrics: Tracking the number of new ideas or products developed in collaboration with suppliers can highlight the value derived from SRM.

Frequently asked queries:

Relevant Topics