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Vendor performance evaluation is the process that helps to choose the right suppliers. This is important because unreliable suppliers can have a devastating impact on a business’s success. The first task in vendor analysis is to determine your company’s purchasing needs.
Key benefit areas:

  • Benefit from Single, Centralized Vendor Directory
  • Manage New Vendor Selection & On-boarding
  • Create action plans and manage progress from start to completion.
  • Gain Insights and Monitor Third Party & Vendor Risk Trends with Analytics

With Vendor 360 dashboards:

    • Measure the Vendors Performance based on the 2 main parameters – Quality and On-time delivery
    • All the transactions with Vendors can be summarized at the single place
    • Vendor ratings can be assigned based on their performance which are primarily based on

the 4 parameters – PO value, Repeat order, Billing and Payments

  • The parameters can be customised as per your requirement. Weights can be added to each parameter for accurate approximation.