How does supplier performance affect business success?
Supplier performance is crucial as it directly impacts product quality, delivery times, and overall customer satisfaction.
Can you give examples of how poor supplier performance can harm a business?
Certainly! Poor supplier performance can lead to delays in production, increased costs, and ultimately, loss of customers.
What metrics should businesses use to evaluate supplier performance?
Key metrics include on-time delivery rates, quality defect rates, and responsiveness to issues.
How can businesses improve their supplier relationships?
Businesses can improve relationships by maintaining open communication, providing feedback, and collaborating on solutions.
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