Measure your vendor performance with Vendor Rating

Who doesn’t want optimal performance from suppliers? By reviewing your suppliers periodically, you create immediate insights into supplier performance in relation to contract agreements. With Vendor Rating from Vendor Management, you collectively construct optimal insight into vendor performance. This allows you to monitor and encourage your suppliers to perform to the best of their ability.

Share your supplier assessment with your supplier and discuss improvements

The results of your supplier rating from Vendor Rating can be shared directly with your supplier in the Supplier Portal. It is also possible to include your supplier in the assessment, so that a fair and transparent overview of the cooperation can be provided. This transparency provides a solid foundation for making improvements in services for both parties.

Evaluating suppliers is often a time-consuming task that involves using several Excel files and emailing them to various respondents. With Vendor Rating from Vendor Management, you avoid this workload. The vendor rating is conducted completely digitally based on best practices including questions, shipping and rating.

Performance improvement through collaboration with your organisation

Depending on the type of purchasing category, you may want to assess the supplier briefly or very comprehensively. In Vendor Management, you create survey templates with ease using different response options such as drop-down lists, numbers or comment boxes. Select the survey template regarding supplier and respondents in order to send out the assessment all at once. You can track progress, review results and sit down with your supplier to make purchasing improvements.

Set your KPIs and get a clear picture of your supplier’s performance

An important part of supplier evaluation is measuring whether your supplier is performing in accordance with the SLA and contract. Within Vendor Management, you do this by adding KPIs and setting a standard. Clear dashboards show the progress of the set KPIs and directly show how far performance deviates from the standard. You can then share these dashboards with your colleagues to work together toward the right performance!

Compare your supplier's performance within the purchasing category and determine your success strategy

To execute a proper procurement strategy for each procurement category, it is necessary to understand the mutual performance of the various suppliers within the respective procurement category. The supplier assessment that has been conducted is displayed in a clear matrix, which allows you to immediately see the supplier performance per quarter and per year. The results can also be shared with your supplier through the Supplier Portal, so you can work together to improve relationships and collaboration.

Assess and verify your new suppliers through pre-qualification

In some cases, you want your new supplier to meet certain requirements and certifications before contracting them. Through the pre-qualification process, new suppliers are asked to answer questions and provide documents of proof. After review and approval, the supplier can be created. This way you guarantee that your suppliers meet set requirements before contracting.

Measure supplier performance quickly and easily
Satisfy compliance (including ISO)
Avoid administrative burden in Excel and emails
Simple (pre-)qualification suppliers

Provide current supplier information
Timely notification of the expiration of important documentation and certificates

Are you also interested in achieving optimal supplier performance? 

Vendor Management in 8 steps

Download the whitepaper Vendor Management in 8 steps and discover how to get the most out of your supplier relationships. Learn the essential steps to manage risks, improve performance, and build strong partnerships. Start optimising today!