In the benchmarking world, one of the axioms is to “steal shamelessly” from other companies, meaning: don’t be afraid to borrow ideas from others (not steal proprietary information). When it comes to supplier performance metrics, one of the first questions firms ask is: What metrics do others use? The idea is the borrow supplier [...]
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In my last post, I listed 11 reasons why supplier scorecards fail. I’d like to write about the first reason – measuring what is easily measured instead of measuring what is meaningful or important. This assumes that you already know what is important for your company to measure, but that’s a future topic. Let’s look [...] Scorecards have become the Holy Grail of supplier performance management. I find that most companies have some kind of supplier scorecards. And if not, they are in the process of developing them or want to develop them. Expectations for results are high. However, very few firms are satisfied with either their scorecards or the results [...] |
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