How do you communicate and measure supplier value and contribution to your business outcomes?

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How do you communicate and measure supplier value and contribution to your business outcomes? This is a crucial question for any business that relies on external partners to deliver products or services. In this article, you will learn some practical tips and tools to assess and enhance your supplier management communication and feedback.

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Oscar Benítez Cárdenas

MBA | Especialista en Abastecimiento | Adquisiciones | Compras Estratégicas | Procurement | Sourcing | Importaciones |…
Oseghale Okohue BEngr. Msc. MBA. DBA. Prince2?Practitioner

Accredited NEC4 ECC Project Manager & Snr. P6 Planner | EPICM, Offshore Engineering,Renewable Energy (HVDC & HVAC Power…
Olga C.

Consultora de Compras | Formadora | Mentora. Soy una apasionada consultora de compras con un enfoque en ayudar a las…

1 Why communicate and measure supplier value?

Communication and measurement are essential for effective supplier management as they help you to align your expectations and objectives with your suppliers, monitor and evaluate their performance and quality, identify and resolve issues and risks, recognize and reward their achievements and innovations, build trust and collaboration, and improve your business outcomes and customer satisfaction. By leveraging these two strategies, you can ensure that your suppliers are meeting your expectations while also optimizing the quality of their services.

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Oseghale Okohue BEngr. Msc. MBA. DBA. Prince2?Practitioner

Accredited NEC4 ECC Project Manager & Snr. P6 Planner | EPICM, Offshore Engineering,Renewable Energy (HVDC & HVAC Power Cables, Wind, Solar, BESS, Grid Code Compliance (G99, G5/5, P28) & Integration, GIS/AIS Sub-Station)
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From experience, communicating and measuring supplier value is crucial for transparency, performance optimization, and informed decision-making. It ensures alignment with business goals, fosters accountability, identifies areas for improvement, strengthens partnerships, and justifies investments. Regular assessments, KPIs, and collaborative feedback mechanisms help quantify and enhance the overall contribution of suppliers to business outcomes.

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Olga C.

Consultora de Compras | Formadora | Mentora. Soy una apasionada consultora de compras con un enfoque en ayudar a las PYMEs a alcanzar la tranquilidad y rentabilidad que merecen con mi metodología exclusiva 7C.
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Communicating and measuring supplier value is crucial for any business. I start by setting clear KPIs with each supplier, focusing on metrics like on-time delivery, quality, cost savings, and innovation contributions. Regular performance reviews help track these metrics and provide a forum for open discussion. I make sure to quantify the supplier's impact on our bottom line, whether it's through cost reductions, improved efficiency, or revenue growth. This data is then shared with key stakeholders through reports and presentations, highlighting how the supplier's performance aligns with our business goals. I also encourage suppliers to share their own success stories and innovations, which we can showcase internally.

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2 How to communicate with your suppliers?

Regular, clear, and consistent communication with your suppliers is essential. To ensure this, you should create a communication plan that outlines the frequency, format, and channels of communication, as well as assign roles and responsibilities for communication between your team and your suppliers. Additionally, you should use a variety of methods for communication, such as meetings, emails, calls, reports, and surveys. Providing constructive feedback and listening to your suppliers' concerns and suggestions is also important. Lastly, any issues or disputes should be addressed promptly and professionally.

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3 How to measure supplier value?

Measurement is the process of collecting and analyzing data to evaluate supplier value. To do this, you should define key performance indicators that reflect your business goals and expectations, agree on the measurement criteria and methods with your suppliers, collect and track data from various sources such as contracts, invoices, delivery records, quality reports, customer feedback, etc., use a balanced scorecard or dashboard to visualize and compare the data, review and report the results regularly and transparently, and adjust your strategies and actions based on the findings.

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Oscar Benítez Cárdenas

MBA | Especialista en Abastecimiento | Adquisiciones | Compras Estratégicas | Procurement | Sourcing | Importaciones | Comex | Supply Chain | Sostenibilidad | Economía Circular | Cadenas de Abastecimiento Sostenibles
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Es clave revisar los antecedentes y certificaciones que poseen los provedores, por ejemplo, de casas certificadoras, premios, niveles y volumenes de venta interna en el mercado local y exportación. Licencias de exportación / importación, publicaciones en medios tradicionales y en redes sociales, presencia online y posicionamiento en buscadores web. Todos estos aspectos nos dan una idea preliminar de la posición del proveedor en el mercado y cómo éste comunica su propuesta de valor.

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Oseghale Okohue BEngr. Msc. MBA. DBA. Prince2?Practitioner

Accredited NEC4 ECC Project Manager & Snr. P6 Planner | EPICM, Offshore Engineering,Renewable Energy (HVDC & HVAC Power Cables, Wind, Solar, BESS, Grid Code Compliance (G99, G5/5, P28) & Integration, GIS/AIS Sub-Station)
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From experience, measure supplier value through KPIs like on-time delivery, quality metrics, cost savings, and innovation contributions. Implement regular performance reviews, surveys, and collaboration forums. Quantify impact on operational efficiency, risk mitigation, and overall strategic alignment. Utilize data analytics for objective evaluation, fostering transparent and effective communication about supplier contributions to business outcomes.

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4 How to use supplier value analysis tools?

Supplier value analysis tools are techniques that help you to assess and improve your supplier value. For instance, supplier segmentation involves categorizing suppliers based on their strategic importance, performance, and potential. This can be done using a matrix or map to allocate resources and efforts. Additionally, supplier relationship management (SRM) is the process of developing and managing long-term relationships with key suppliers, which can be facilitated through a framework or model. Furthermore, supplier innovation management (SIM) is the process of encouraging and facilitating ideas from suppliers that may enhance your value proposition and competitive advantage. This can be accomplished through a platform or program.

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Oscar Benítez Cárdenas

MBA | Especialista en Abastecimiento | Adquisiciones | Compras Estratégicas | Procurement | Sourcing | Importaciones | Comex | Supply Chain | Sostenibilidad | Economía Circular | Cadenas de Abastecimiento Sostenibles
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El desarrollo de plataformas que faciliten el desarrollo de nuevas ideas, mejoras en procesos y desarrollo de productos es clave para facilitar procesos de innovación, ahorros en costos y además generación de procesos cada vez más simples y esbeltos. Una plataforma de comunicación entre las áreas de desarrollo de productos y suministro, tanto del proveedor como del cliente serán una gran facilitador de procesos de mejora y finalmente de propuesta de valor de ambos, tanto proveedor como cliente.

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Oseghale Okohue BEngr. Msc. MBA. DBA. Prince2?Practitioner

Accredited NEC4 ECC Project Manager & Snr. P6 Planner | EPICM, Offshore Engineering,Renewable Energy (HVDC & HVAC Power Cables, Wind, Solar, BESS, Grid Code Compliance (G99, G5/5, P28) & Integration, GIS/AIS Sub-Station)
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From experience, use supplier value analysis tools to assess performance metrics, cost-effectiveness, and innovation. Implement scorecards, balanced scoreboards, and analytics for data-driven insights. Regularly review these tools, ensuring alignment with business objectives. Engage in collaborative discussions, share findings with suppliers, and seek continuous improvement. This strategic approach enhances communication and enables precise measurement of supplier value and contributions to business outcomes.

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5 How to communicate supplier value to your stakeholders?

It is essential to communicate supplier value to your stakeholders in order to gain their support and recognition. To do this, you should identify your internal and external stakeholders and their interests and expectations, then tailor your communication messages and methods accordingly. Furthermore, emphasize the benefits and achievements of your supplier management, as well as how your suppliers contribute to business outcomes and customer satisfaction. Additionally, share best practices and lessons learned from supplier management experiences, and solicit feedback from stakeholders to improve processes.

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Oscar Benítez Cárdenas

MBA | Especialista en Abastecimiento | Adquisiciones | Compras Estratégicas | Procurement | Sourcing | Importaciones | Comex | Supply Chain | Sostenibilidad | Economía Circular | Cadenas de Abastecimiento Sostenibles
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Es importante, en especial hoy en día, el tener en cuenta aspectos de sostenibilidad en la cadena de suministros. Aspectos como condiciones éticas de trabajo, obtención responsable de materias primas, elaboración de productos de forma que se generen ahorros de agua, electricidad y combustibles; utilización de empaques con materiales reciclables, medir huella de carbono, etc. son aspectos que podemos integrar a nuestra comunicación corporativa como parte de una estrategia integral de abastecimiento sostenible. Son aspectos de la cadena de valor del proveedor que a su vez nos dan valor a nosotros como clientes.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Tiffany Snyder, MBA, CSCP, CPSM, CTSC, CPSD

Head of Procurement, Museum of Fine Arts, Houston | Strategic Advisor for Clearwater Purchasing Group | Supply Chain Leadership | Procurement Strategy | Speaker
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While creating Key Performance Indicators (KPIs) is essential, our primary focus should lie in effectively utilizing the insights derived from these metrics and understanding their impact on the business. Often, we observe instances where supplier KPIs are diligently monitored, yet the subsequent actions based on the gathered data are lacking. Furthermore, there's a disconnect when the collected data fails to directly align with the overarching goals of the corporation and the interests of shareholders. Therefore, it's imperative to ensure that our KPIs are not just monitored but leveraged to drive meaningful outcomes that contribute to the company's strategic objectives and stakeholder value.

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How do you communicate and measure supplier value and contribution to your business outcomes?

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1 Why communicate and measure supplier value?

2 How to communicate with your suppliers?

3 How to measure supplier value?

4 How to use supplier value analysis tools?

5 How to communicate supplier value to your stakeholders?

6 Here’s what else to consider

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