Vendor scorecarding is becoming more prevalent in today’s retail supply chains. In this podcast, Jim Frome shares how retailers and suppliers are using scorecards to improve their margins and reduce the amount of inventory each must carry. By first understanding the baseline performance of the supply chain by product and by vendor, merchandisers and suppliers can co-develop plans to improve performance. The end goal for all trading partners is to reduce the amount of inventory they carry without worrying about losing sales. Mr. Frome explores how to measure key performance indicators (KPI), such as fill rates and on-time deliveries, capture the information needed from the retailer's or supplier's systems to monitor and analyze these KPIs, and leverage today’s vendor scorecarding tools to build collaboration and trust within the supply chain.
