[RESEARCH SPOTLIGHT] Roadmap to Supplier Status: Think Risk Performance, Not Compliance
It’s no secret … delivered product quality is one the most critical metrics on every supplier scorecard. Your quality performance as a supplier directly impacts your risk rating and in turn contract awards. Many customers rate suppliers as low-, medium-, and high-risk. They phase out high-risk suppliers, monitor and selectively award contracts to medium risk vendors, and preferentially award contracts to low-risk, "preferred suppliers."
Manufacturers that are suppliers to other industrial organizations and looking to improve recurring revenue and bottom line performance should take the proper approach to quality – shift the enterprise perspective on quality from conformance to performance, from cost-prevention to designed-in quality.
Read this spotlight to learn:
Which market trends and mega-trends influence the supply chain today
What the current state of the market is in risk management
Why risk plays a role in achieving differentiated supplier status
How and when to apply the "right" risk strategy
What Quality 4.0 is, how it creates the next generation of insights
Which actions to take now and moving forward
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