COSMO Vendor Rating - You can’t manage what you don’t measure

As a stable supply chain is the basis for increasing competitiveness, supplier evaluation is of crucial importance.

Our COSMO Vendor Rating app for Microsoft Dynamics 365 Business Central (formerly known as Dynamics NAV) is used as a basis for decision-making in the allocation process and also for the ongoing control of supplier relationships. This function ensures that the desired standard of quality is achieved — even in the upstream sectors of materials management. The assessment is made on the basis of awarding points for individual criteria. The use of the supplier evaluation software ensures a more objective assessment because all suppliers are assessed on the basis of standardized criteria and the scores are calculated by the system. Both suppliers and individual deliveries can be evaluated according to various criteria, ensuring that the reliability of a supplier can be qualified at any time.

An enterprise should measure supplier performance because:

• You can’t manage what you don’t measure.
• If you measure suppliers, they will improve.
• You can facilitate supplier performance improvement.
• You can make informed business decisions that impact the enterprise.

None of the before mentioned supplier performance evaluation benefits can be gained through sporadic or one-off exercises. Only a continuous approach will provide the data necessary to cultivate positive supplier relationships and encourage collaboration. Supplier performance evaluation is an ongoing process.