5 ways Supplier Ratings can help Procurement to Buy Smarter!

1. Owning KPIs & Targets

  • Key Performance Indicators (KPIs): What criteria/parameters do you want to measure & rate in your supplier rating?
  • Goal/Targets: What is the desired output of suppliers?
  • Acceptance Criteria: What is the minimum & maximum output to be accepted?

2. Buyer-Supplier Alignment & Engagement

3. 360º View — Balanced Scorecards

Source: Kodiak Rating SRM Solution
  • 3rd party data sources: Covering social, environmental, financial, media, and sanction-related risks.
  • Company-Specific KPI definition: social, environmental, quality, IT, financial, supply chain, industry-specific compliance.
  • Company-Specific KPI definition: quality, commercial, delivery, innovation, collaboration, and sustainability performance.

4. Supplier Segmentation

5. Sustainability & Governance at Scale

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