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