Managing supplier performance isn’t just a box-checking exercise – it’s a key component of driving your business forwards. By carefully managing your suppliers, you can ensure that they consistently meet their obligations to you and your customers, while keeping costs and risks in check. This means regularly evaluating how existing suppliers are performing against contractual terms, tracking KPIs, and proactively addressing any issues. It also involves establishing a process for onboarding new suppliers and regularly assessing their performance to ensure that the quality and consistency of their services meets the standards expected by your company.