The Vendor Performance Myth
PurchTips - Edition # 149
By Charles Dominick, SPSM
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:
Some vendors do only one thing and do it well. Others do a multitude of things but specialize in one. That area of specialization is called a core competency. An office supply vendor may also provide printing services. A computer manufacturer may also make printers. You need to identify what the vendor's core competency is. If you purchase products or services outside of a vendor's core competency, the risk of poor performance is greater.
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Spotlight On Professional Development Opportunities
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Earning your Senior Professional in Supply Management® (SPSM) Certification is the action to take if you want to bring the most modern purchasing practices into your organization and achieve your career potential. Learn how to earn your SPSM® Certification (and perhaps get an iPod) at:
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