Supplier Performance Monitoring Scheme (Spms) Definition
A Supplier Performance Monitoring Scheme (SPMS) is a quality assurance program implemented by an organization to evaluate and continuously improve the performance of its suppliers.
The SPMS definition includes a set of procedures and methods that are followed in order to assess supplier performance. It also takes into account customer feedback, as well as other factors such as on-time delivery, quality of products or services, etc.
In order to create an effective SPMS, it is important to involve all stakeholders in the process – from senior management to front-line employees. Furthermore, the scheme should be reviewed on a regular basis and updated as necessary to ensure that it remains relevant and fit-for-purpose.
