Vendor scorecards are an essential component of effective Supplier Relationship Management (SRM). A vendor scorecard is used to measure the performance and effectiveness of vendors and suppliers that provide goods or services to your business.
In their latest release of their Procure to Pay software i2B Connect, i2B have introduced the ability to upload and share Vendor Scorecards.
The scoring categories are completely configurable, each business can decide how they wish to score their vendors. The following screen shot (example vendor scorecard) shows one of our clients scoring on quality, delivery, cost, local factors and the vendors rating and status.
These scores can be automatically refreshed from their ERP system or manually updated by their procurement team.
The scorecard can be used to measure the key performance indicators (KPI) that the vendor is bound to. Whether you want to share these scores with your vendors is configurable as well.
i2B Connect builds a full history / timeline of your vendors scores as well, meaning you can analyse and report on your vendors performance trends.
If you are an existing i2B Connect user and want to switch vendor scorecards on, or you’re interested in sharing scorecards with your vendors please get in touch.