Supplier Performance Management has emerged as a hot topic and area of priority from sourcing, procurement and category leaders in all supplier markets including HR, Sales & Marketing, Supply Chain, IT, and Finance. There is too much at risk and too much value to leave on the table when working with strategic, visible and costly suppliers. Hence more is being written and more tools are being produced to continue the discussion and advance the profession.
Below are some current resources in the news that highlight supplier performance management and ClientLoyalty, a supplier performance management software system.
Forbes “Great Suppliers Make Great Supply Chains,” by Paul Martyn, the author highlights numerous benefits accruing to organizations if they evolve and adapt modern day supplier performance management (SPM) capabilities, this includes as much as 15% in contract value cost savings. ClientLoyalty’s CEO, Kent Barnett is quoted in the article as well as other thought leaders seeking to advance the dialogue for increased emphasis resulting in real value from stronger SPM programs.
SpendMatters – Vendor Snapshot – This review provides a background and solution overview of the ClientLoyalty supplier performance management system. It explains how ClientLoyalty is going beyond traditional supplier scorecards to aggregate operational data, risk scores, 360 feedback and news/social sentiment into a consolidated and comparative supplier score.
SpendMatters – Product Review – This review provides a third party assessment of the ClientLoyalty supplier performance management system. It highlights a standardized yet flexible data model comprised of performance, experience, risk and reputation data. The article praises the systems import/export capability as well as its document management capability. There is additional discussion about the systems ability to summarize data and recommendations in concise statements for busy practitioners and highlights a major strength of the system in its simple and easy-to-understand user interface.
Additional Resources – For additional resources on furthering your supplier performance management business case consider these relevant resources:
Benefits Estimator – A free tool comprised of 16 easy-to-answer questions that will automatically provide you with a 3-year financial estimation accruing from the improvements that can be made in your current supplier management program.
Go to Benefit Estimator/
Webinar – Quantifying the Financial Impact of Improved Supplier Performance Management – Supplier Performance Management (SPM) is a critical process to mitigate risk, ensure quality, control costs, and sustain positive, collaborative relationships with suppliers. This webinar will share ways to quantify in dollars, the benefits to your entity over a three-year period if it makes upgrades to its current supplier management process. Additionally, the webinar will provide insights into building the business case for improving your supplier management process. Finally, specific tools will be reviewed and made available to assist you in quantifying the benefits of SPM and building your SPM business case.