Digital SPM Solutions Drive Accountability in Supplier Partnerships
Effective digital SPM platforms should enable organizations to streamline and enhance their SPM program. The platform solution should include the following crucial functionalities:
- 360-degree Supplier-Client Communication
- Supplier Segmentation
- Performance Management
- Supplier Development and Innovation
- Ability to measure Sustainability and Diversity metrics of individual suppliers
To manage a supplier’s performance is to hold them accountable for the services they are contracted to provide. Traditional SPM methods, unfortunately, make this difficult to execute because, suffice it to say, the process is onerous. Think about the tedious spreadsheets that capture limited information on a quarterly basis—sound familiar?
SupplyHive transforms the supplier evaluation experience in the following ways to propel an organization’s ability to hold its supplier partners accountable:
- Eliminate the tedious spreadsheets that create a hurdle to collecting timely, meaningful data about a supplier’s performance.
- Faster and frequent data collection -> faster and frequent feedback provided -> faster and more productive course correction.
- Easy-to-use interface yields sentiment data that spreadsheets simply cannot produce.
- Digital platform to set goals, develop action plans, and track progress.
SupplyHive empowers your team to share feedback; set and track goals; manage supplier performance reviews; and drive accountability in a fun, fresh, easy way — helping you make a return on that SPM investment even sooner.