Supplier Performance Management

Supplier Performance Management (SPM) is a vital business process designed to assess, analyze, and effectively oversee the performance of an organization's suppliers. The primary purpose of Supplier Performance Management is to align supplier performance with key business objectives, including but not limited to cost reduction, risk management, and quality improvement.

This comprehensive process involves continuous evaluation and measurement of supplier performance against predefined benchmarks and key performance indicators (KPIs). By leveraging data-driven insights, organizations can identify areas for improvement, mitigate risks, and enhance collaboration with suppliers. Supplier Performance Management contributes significantly to the overall efficiency and success of the supply chain, fostering a proactive and strategic approach to supplier relationships.

Learn more about Ivalua's Supplier Management Solutions.