vendor scorecard

A vendor scorecard is a tool that evaluates and tracks a supplier’s performance based on important factors like quality, delivery, cost, and responsiveness. It helps businesses measure how well their vendors meet expectations and standards over time. By reviewing these scores regularly, companies can identify strong performers, address issues with underperforming vendors, and make informed decisions to improve supply chain efficiency. Essentially, it's a structured way to ensure vendors provide consistent value and align with a company's goals.