360 degree feedback
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The document discusses the importance of 360 degree feedback between suppliers and customers. It notes that suppliers add value rather than just passing value, so relationships should graduate to mutually beneficial partnerships beyond simple vendor relations. 360 degree feedback involves obtaining feedback from suppliers on a company's practices, systems, and methodologies to identify best practices and areas for improvement. A sample supplier-customer feedback form is provided that rates various aspects of the relationship on a scale from 1 to 10 and includes space for comments on improvements.
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- 1. 360 Degree Feedback Suppliers are associated with customer on the business relation. The healthier the business relation between the customer and the supplier better the performance of the supplier, which in turn improves the business of the customer. Sourcing activity is not head on purchase; we are not dealing with traders we have to deal with manufacturers. Our suppliers are value adders not just value passers. In such a situation our relationship with our supplier should graduate to mutually beneficial partnerships and just “vendor relations” The usual relationship of supplier and customer is based on the customer being The criticism based approach to suppliers’ working does not give joy to either of the two and fosters a climate of fear and suspicion between them. Instead a transparent approach and systematic communication of lacunas on either side would give rise to constructive corrections. There is a lot of interaction between our suppliers and us in the following areas: 1) Delivery on time 2) Delivery of quality supplies 3) Payments made by customer within the stipulated time .Making and honoring of commitments 4) Inputs and query resolution by customer 5) Clarity of communication on delivery schedules, snag sheets In this era of intense competition there is a need to attain higher levels of efficiencies and benchmark best industry practices or make your current practices best in the industry. 360 degree feedback in this context is a methodology of obtaining feedback for our practices, systems and methodologies from our suppliers, know from them best practices followed elsewhere to improve upon our own.
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