The Importance of Ongoing Supplier Evaluation

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The Importance of Ongoing Supplier Evaluation
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When a company discovers that theyre either
purchasing something significant in an
unstructured way or the need arises for a new
category of purchases, its common for multiple
SUPPLIERS to be evaluated. During the evaluation
process, everything from best price to expected
reliability will be taken into account.
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Depending on the number of potential suppliers
that are being evaluated, the process can take a
little time. But because its the only reliable
way to optimize pricing while also ensuring that
delivery will be handled in an optimal way, this
process is a smart use of resources.
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The only real issue with supplier evaluations is
that within many organizations, they are
something that are only done one time. Once a
decision is made after the initial evaluation,
thats what everyone sticks with. Although its
easy to understand why people often fall into the
same pattern, that doesnt mean its the optimal
course of action.
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Why Strategic Sourcing Matters
As long as the supplier evaluation process is
completed prior to the start of a new
relationship, it generally ensures that supplier
relationships will start off on a positive note.
However, what many companies forget is just
because a supplier relationship starts off great
doesnt mean it will stay that way forever.
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Why Strategic Sourcing Matters
The reality of the modern business environment is
that things change. From pricing increases to
longer and longer lead times, there are a variety
of things a supplier may start doing that just
dont work for your company. While these types of
things may start off as inconveniences, they can
quickly snowball into very real problems.
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Why Strategic Sourcing Matters
Since a major problem with a key supplier can
leave a company in a significant bind, its a
great example of why supplier evaluation
shouldnt end after a relationship begins.
Instead, its something that should continue to
happen. By having policies and systems in place
for this type of evaluation, a company can
protect themselves against being in a situation
where they suddenly realize that a supplier is no
longer capable of properly delivering whats
needed.
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How PURCHASING SOFTWARE Can Help with Ongoing
Evaluations
Once companies realize the issues that can arise
if ongoing supplier evaluations arent in place,
they generally want to know what needs to be done
to get the ball rolling with this process. Of all
the possible answers to that question, the most
notable is ensuring that PURCHASING MANAGERS are
properly equipped to stay on top of this task.
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Contact US
The best way to give purchasing managers what
they need to regularly evaluate suppliers is
through software. By having access to BELLWETHER
PURCHASING SOFTWARE, purchasing managers will
have access to pricing information and other
historical data about VENDORS. This access makes
it easier than ever for purchasing managers to
periodically evaluate suppliers in the most
accurate way possible. To see how our purchasing
software can be customized for your business,
CONTACT US for a FREE LIVE DEMO, or try our
software FREE FOR 30 DAYS- no credit card needed.
Business Address
9900 Shelbyville Road, Suite 6B, Louisville, KY
40223, USA
Business Phone [phone]
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