To assess the health of your supplier relationships, use this checklist:
Do your internal stakeholders …
- Understand the value your suppliers are supposed to provide?
- Believe your suppliers know how to get new projects up and running in a timely manner?
- Report consistent receipt of the supplier value they expect to receive?
- Praise your suppliers for being responsive to their daily needs?
- Enjoy working with your suppliers’ employees?
- Believe your suppliers are worth the prices they charge?
- Deem your suppliers worthy of recommendations to their colleagues?
By assessing supplier-stakeholder alignment in this manner, you will discover the relational dynamics that are enabling or undermining business relationships with your suppliers.
If your total number of “yes” answers are: …
- … 6-7, use stakeholder feedback to document/leverage the strengths of your strong performing supplier community.
- … 4-5, use stakeholder feedback to identify unknown supplier performance gaps, and task the supplier(s) with developing an action plan for improvement.
- … less than 4, use stakeholder feedback to overhaul your SRM (supplier relationship management) strategy.
For more insight on how to integrate stakeholder feedback into your SRM strategy, download one of our white papers: