Vendor Scorecard for Inventory Management

Track the performance of the vendors you're purchasing from to better estimate everything from lead times to damage rates.

Wilson Silva

Overview

With inventory management, everything starts when you order supplies and products. Long before you’re selling to customers, you’re stocking up. If received items are damaged, late, or tagged wrong you could be losing money.

The Vendor Scorecard for Inventory Management allows you to track these occurrences so you can shift your ordering to higher performing suppliers as well as provide actionable criticism for the vendors that are underperforming.

This doc covers:

Damaged Items

Open NCR’s (Non-Conformance Reports)

On-Time Deliveries

Shipping Notice

Qty Received

Packing Slip Info

Returns

The importance of each topic varies for each business. Within this doc, you can set the weight each attribute carries according to your own scale. Put in the percentage you think each field should count for and the template handles the rest. See these ratings month over month and track trends at a glance with color coded charts.

Should you run into issues with a particular vendor, sort the ratings page to that vendor for a set of statistics you can share with them. Providing statistical feedback on actionable items will help you either negotiate new terms or help you make a decision to allocate orders elsewhere.