Why Measuring Supplier Satisfaction Is More Critical Than It Looks?

There’s no room for argument with the statement that supply chain is the backbone of organizations, especially that of the manufacturing sector. And every CPO or relevant business stakeholder would strongly agree that suppliers are the backbone of the supply chain. However, here lies the irony. We are well aware that customer satisfaction is considered to be at the root of business prosperity that organizations enjoy. Obviously, businesses invest a considerable amount of time, effort, and money to capture, understand and analyze how happy and satisfied are their customers. So is the case with the state of employee satisfaction as well. Organizations, rightly so, are investing their resources to keep a tab on the employee satisfaction as the old adage goes: happy employees mean happier customers. Somehow, supplier satisfaction, on the other, seems to usually get taken for granted and relegated to pricing and payment terms. This is rather unfortunate because employees from within and suppliers from outside the organization complete the ecosystem that, along with the company’s processes, strategies and continuous innovation, fuels the engine that keeps the customer ultimately happy.
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