Can You Predict Vendor Performance?
"The key to superior vendor performance is measuring vendor performance." Let me unequivocally say that this statement is a myth.
Yes, it's true that measuring vendor performance is very critical for improving vendor performance. However, the most important element in achieving superior vendor performance is sourcing and selecting the right vendor.
There is no foolproof way of selecting a vendor whose performance will never disappoint you. However, there are three questions you can ask about a vendor that will help you better predict that vendor"s future performance:
1. Is this category the vendor's core competency?
Some vendors do only one thing and do it well.