oboloo Glossary

Supplier Performance Supplier Scorecard Metrics

oboloo Glossary

Supplier Performance Supplier Scorecard Metrics

Supplier Performance Supplier Scorecard Metrics in procurement is the practice of assessing and monitoring the performance of suppliers against measurable criteria. This helps to ensure that suppliers are meeting their commitments, providing high-quality products and services, and ultimately contributing to the success of the organization. This can include tracking performance metrics such as on-time delivery, quality issues, cost savings initiatives, customer satisfaction scores, and innovation initiatives. By setting goals and standards for supplier performance scorecards, organizations can have more information on which to base decisions when selecting and evaluating suppliers.