Supplier Importance
Supplier Importance is a supplier performance metric that quantifies the importance or value of a supplier to an organization. The Supplier Importance score is generally used by organizations to help them make decisions about which suppliers to keep and which ones to get rid of.
A supplier’s importance can be determined by a number of factors, including the volume of goods or services they provide, the quality of those goods or services, their price point, and how easily they can be replaced by another supplier.