What are the best practices in supplier management?

What are the best practices in supplier management?

Best practices in supplier management include establishing clear communication, setting performance metrics, and fostering strong relationships.

How can I improve communication with my suppliers?

You can improve communication by scheduling regular check-ins, using collaborative tools, and being transparent about expectations.

What metrics should I use to evaluate supplier performance?

Key metrics include on-time delivery rates, quality of goods, responsiveness, and cost management.

How often should I review supplier performance?

It's advisable to review supplier performance at least quarterly, but more frequent reviews may be necessary for critical suppliers.

Can you suggest ways to build stronger relationships with suppliers?

Building stronger relationships can be achieved through regular feedback, recognizing their contributions, and involving them in planning.