Improvement is not simply an idea: it is a process. And processes without frameworks are recipes for underachievement, or worse, chaos. For this reason, value leakages in procurement functions must be resolved in a systematic, progressive, incremental, and formalized manner.
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parameters like supply reliability, financial capability, reference feedback, quality levels, location, and so on. Better performance from suppliers enables companies to deliver higher performance levels in terms of supply chain responsiveness and reliability. It is thus imperative for companies to set performance levels for suppliers every year, based on these metrics (percentage of on-time deliveries, rejections, stock-outs, and so forth). These metrics must be measured and discussed with suppliers to