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The Top 10 Vendors/Suppliers Template is a dashboard that can be used to track the performance of the top 10 vendors or suppliers. The template includes columns for the vendor/supplier name and it is flexible to create the top 5 or 10 or 20 vendors or suppliers.
How to prepare the Top 10 Vendors/Suppliers Template?
LiveFlow has the top 10 vendors/suppliers template that can be used to track and monitor suppliers/vendors' spend, just make a copy of the template and change the underlying company to Expenses by Vendor report within the “Manage reports” tab. Once done, your top 10 vendors/suppliers template will be updated in google sheets.
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Why is the Tracking of Supplier/Vendor Performance so Important?
The tracking of supplier/vendor performance is important in terms of money because it can help organizations save on costs. By monitoring the performance of suppliers and vendors, organizations can identify issues early and address them before they become too costly. Additionally, by having a good understanding of the quality and timeliness of product delivery from suppliers and vendors, organizations can better plan their production schedules and ensure that they are getting the best possible prices for the products they are purchasing.
What are the benefits of Supplier/Vendor Performance Management?
Some benefits of supplier/vendor performance management include:
1. Reduced costs - Having a system in place to measure and manage supplier performance can help to identify and correct issues early, before they become too costly.
2. Improved quality and compliance - By monitoring supplier performance, organizations can ensure that they are meeting quality and compliance standards.
3. Increased efficiency and productivity - When suppliers are meeting performance targets, it can lead to increased efficiency and productivity within the organization.
4. Better decision-making - By having accurate and up-to-date information on supplier performance, decision-makers can make more informed decisions about which suppliers to work with and how to best utilize their resources.