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Rate Vendor Performance

Do you want to identify which vendors are doing the best work on-time and on-budget?

Overview

Your procurement vision hinges on the performance and accountability of your vendors. In order to achieve procurement excellence you must successfully assess and leverage your vendors’ capabilities and capacity to deliver while identifying meaningful cost savings with minimal risk. Ultimately it is your responsibility to identify vendor risks and take corrective action before they have a substantial impact. MERX Vendor Performance management provides the essential vendor interaction tools to continuously monitor fulfillment against contractual commitments and evaluate performance against your standards, service level commitments and industry norms.

Key Challenges:

How MERX4 Helps

MERX Vendor Performance Management (VPM) lets you define, collect, score and measure vendor performance metrics. Our approach strengthens vendor relationships by involving the vendor throughout the entire assessment process. By using MERX4 to manage the process, you will capture all information in a central repository with full management reporting capabilities.

Create and Administer Vendor Performance Programs

VPM enables you to model and administer performance programs supported by various assessment forms. VPM lets your procurement team identify individuals or groups who are responsible for completing the assessment questionnaire and determine the frequency evaluation of each project. Each assessment program is linked with a scoring algorithm to calculate the overall score of a project. In addition, an algorithm can also be set up to determine the overall score of a supplier. VPM also supports the inclusion of penalties and infractions allowing you to track and collect negotiated savings.

Reduce vulnerability and exposure to risks

MERX Vendor Performance Management includes powerful risk assessment tools that allow procurement teams to quickly identify and take action against vendor risk, quality and compliance issues. By establishing a vendor performance program, you gain feedback and insight into performance on a periodic basis. This allows you to analyze performance while projects are being executed. This information can be used to support discussions and corrective actions with vendors.

Benefit from Interactive Evaluation and Automated Scorecards

MERX provides easy to use tools to assess and report vendor performance at agreed upon intervals. Your evaluators have powerful risk identification and audit tools to collaboratively review assessments, resolve disputes and revise before completion. VPM applies your scoring algorithms and provides measures and scorecards that can be consolidated and applied to the By Invitation or Qualification process to automatically organize, rank and list vendor bids according to configurable criteria. These criteria include but are not limited to deficiencies, infractions, and which vendor met or missed expectations.

Fully Integrated Vendor Relationship Management Framework

MERX4 is a comprehensive strategic sourcing solution that enables your procurement teams to factor vendor performance throughout the entire lifecycle. From vendor rotation and renewals through to By Invitation solicitations – vendor performance matters. MERX places vital vendor performance information at your fingertips allowing your teams to make informed decisions to improve vendor quality and predictability.