In Hindsight...Supplier Scorecards

No matter the size of your organization or your procurement team, if you had a crystal ball in 2019, you may have adjusted your short-term goals to stand up a supplier scorecard program.

Supplier scorecards measure criteria based on quality, on-time delivery, and customer service. They can also measure variables like diversity, quality systems, financial ratings, etc. Prior to 2020-21 supplier scorecard programs were a “someday, maybe” mid-to-long term goal. Not anymore; welcome the myriad of supply chain challenges (shortages, inflation, lead times, logistics, raw material shortages/specification changes) that every buyer is faced with.

Don’t have a system to measure supplier performance, make improvements, build stronger supplier relationships, and optimize your supplier base to reduce risks? Source CNX can help because we are buyers who know procurement’s challenges.

The Hackett Group in their 2021 Key Issues Report, identified what those in procurement already know..they do not have the people, the financial resources, nor the executive support to accomplish many of their objectives. Using the proverbial phrase “changing a tire as the car speeds down the road,” illustrates how difficult standing up a scorecard program now, with current supply chain challenges, can be.

At Source CNX, our vision is to offer procurement solutions that can be activated by front line buyers to address common hurdles experienced by procurement. Limited human resources, financial resources, bandwidth, and executive support are just some of these limitations.

Our ProjectScorecard solution is technology wrapped in procurement support. It is packaged to avoid capital investment and personnel resource hurdles that stand in your way. Source CNX can setup an ongoing supplier scorecard campaign with minimal onboarding effort and maintenance, thereby, allowing your team to focus on the key matters at hand. Additionally, our nominal payment structure allows you and your suppliers to build a successful supplier scorecard program in a way that you can action the program today.

So, you didn’t have a crystal ball? Nobody did. But with Source CNX, you now have procurement solutions on demand that you can action today. You can now move supplier scorecarding out of the “someday, maybe” category and into an active procurement initiative.