Are you concentrating on the right suppliers?
Posted on 19th October 2018 at 15:57
Developing your relationship with your strategic suppliers is important but are they the suppliers that are causing you the headaches?
When we focus our time and effort on our strategic suppliers, it is often at the expense of the lower spend suppliers. After all, we only have a certain number of hours in the day.
The problem is, these lower spend suppliers can also bring your production to a stand still. Without the cardboard box, you can't send the product out with the carrier.
Developing Key Performance Indicators that you can monitor and respond to can give you an early warning that suppliers aren't performing. Asking your Accounts team to keep note of any suppliers chasing early payment to help cash flow can give you an indication that a supplier is struggling.
At Pro Outsourcing we can help you to develop meaningful KPIs, helping you to concentrate on suppliers that might let you down. If you require any assistance in highlighting failures and managing the change, get in touch today!
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