Define objective criteria for evaluating strategic supply partners and follow verifiable, near real-time metrics to help you answer critical questions and weigh your options.
Historically strategic sourcing has been difficult for a variety of reasons. First of all, Procurement professionals are often burdened with low-value tasks like manually gathering all the important data. Secondly, suppliers don’t have a clear understanding how their customers evaluate them and even when presented with guidelines often fear that the data is biased or inaccurate.
Lastly, evaluation criteria is not the same for every company and price is not always the deciding factor - quality and on-time delivery can be equally or more important. BI systems can help procurement professionals overcome all these obstacles and engage in truly strategic sourcing.