Supplier lifecycle and performance is a holistic approach to managing a supplier’s business relationship with a company. It looks at all aspects of the relationship from initial onboarding to ongoing performance reviews and continual improvement. By taking a broad view of the supplier-company relationship, companies can ensure that suppliers are aligned with their objectives, meet predetermined quality standards, and remain competitive in their markets. Additionally, this approach allows companies to maintain strong supplier relationships while still achieving cost savings. Supplier lifecycle and performance management helps organizations maximize the value they receive from their suppliers while ensuring that the highest levels of quality, efficiency, and responsiveness are maintained throughout the entire relationship.