Tip #4 of this series is that purchasing departments should evaluate suppliers on their ability to provide the breadth, quality and timeliness of the information buyers need to complete their shortage transaction. For every order, buyers track what was promised, when it was promised and the eventual accuracy rate. Frequent reviews of supplier performance, tied to a review of the approved vendor list, will highlight which vendors save buyer time and cut buyer risk the most. When applied regularly, this simple process will reveal patterns that can make shortage purchasing easier, more reliable and faster.
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