From the course: Purchasing Foundations
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Supply management performance measurement
From the course: Purchasing Foundations
Supply management performance measurement
- There's an old saying that if you can't measure something, you can't improve it. Most companies do a pretty good job of measuring the performance of their suppliers and working closely with them to improve that performance. But it's also important that the purchasing department measures their own performance and works to make themselves even better. Most important, purchasing needs to demonstrate how well they contribute to the company's overall performance and goals. But that's not so easy to do, measuring and evaluating purchasing performance has traditionally encountered several issues. The first issues involves the large amount of data collected by most purchasing departments. Having too much data is the most common problem when quite often, this can cause managers to focus on the wrong data. I recently read an article about this, a survey of purchasing managers in the U.S. stated that one of their biggest needs is people who can help them turn data into information and use that…
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