The supplier relationship gap is a real barrier to profitable growth. Consider the definition: An inability to diagnose, at any point in time, how your stakeholders “feel” about the performance of your suppliers.
Enterprises fall into the supplier relationship gap for reasons including:
- Manual stakeholder feedback processes
- Stakeholder feedback processes without budget
- Complex, time-consuming feedback processes
As a result, the enterprise is slow to answer key strategic questions, like:
- Which suppliers should be tier-1 strategic partners?
- Which suppliers need to be on performance improvement plans?
- Which suppliers need to be replaced?