Biznet Solutions
January 2012
In the most recent ISM Report On Business®, it was reported that Supplier Performance Management will be the most sought after initiative for organisations to implement in 2012
A recent forecast issued by the Business Survey Committee of the Institute for Supply Management™ (ISM) indicated that supply chain management practices will be improved in 2012 across manufacturing with supplier performance management as the leading technique that is planned to be implemented.
The panel asked what supply chain improvements respondents plan to make in 2012. Seventy-four per cent stated they plan to take steps during the coming year to improve their supply chain management practices. The five most frequently cited approaches are listed below:
1. Supplier performance management
2. Strategic sourcing/supply base rationalization
3. Demand planning to reduce supply lead times
4. Inventory management and control
5. Process and information systems improvements.
Supplier performance management (SPM) is a business practice that is used to measure, analyze, and manage the performance of a supplier’s performance in an effort to cut costs, alleviate risks, and drive continuous improvement. The ultimate intent is to identify potential issues and their root causes so that they can be resolved to everyone’s benefit as early as possible.
Biznet Solutions are leading experts in Supplier Performance Management. For more information contact us at marketing@biznetsolutions.com or call (US): +1 713 589 9236 or (ROW): +44 28 7127 7050.
