Supplier Performance Metrics

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No business can function alone. The supplier of a business is as important as the customer and all the businesses naturally rely on them for raw materials or other related services. While the businesses scale, the number of suppliers and interactions with them also increase exponentially. If the business is manufacturing, there is heavy dependence on suppliers throughout the business life cycle. The performance of supplier directly affects the business growth and efficiency and thus, it needs to be managed and monitored continuously to avoid major setbacks in the value chain of a business. Quantifying the performance in the form of metrics , tracking and monitoring it, is a difficult task in itself. To add to the hassle, ensuring that the metrics are met is taxing.

VComply’s one stop platform helps an organisation to better organise their supplier portfolio and assign Key Performance Indicator (KPI) goals to them periodically. It can be accessed from multiple locations by multiple users which makes monitoring and reporting a hassle free job. One can set alerts and generate reports to assess the risk to take a proactive action before it gets too late.

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