Episode 16: 15 Vendor Management KPIs (Key Performance Indicators) You Should Know

The connections you make with your vendors may have a significant influence on your procurement function’s capacity to create value for your firm as well as your organization’s overall bottom line.  However, you cannot rely on every provider to execute their job on their own. You must keep track of the progress over time to ensure they are meeting their contractual responsibilities. Key performance indicators for vendor management will help you achieve that. You can set a rich, data-driven approach to supplier management that is associated with high value, low risk, and strategic sourcing by developing, monitoring, and adjusting vendor management KPIs. https://blog.efex.asia/vendor-management-kpi/