Supplier Network Fitness Plan

Are you ready to take a deep dive into your background check supply chain?

Given the daily priorities of selling your services, delivering customer orders, ensuring compliance, paying employees and so much more, supplier analysis may be pushed to the bottom of your to-do list. What better time than now to run a vendor review to understand your accuracy, reliability, expense and opportunity for improvement?  Continuous vetting is required to keep control over your risk, your bottom line and to maintain a competitive edge.

A vendor review can be fruitful. Find the right partner after scouring the many supplier options who compete for your business. Identify savings after looking at your supplier costs. You know that criminal record searches compose about 40-60% of your expenses. Imagine if your bottom line could gain 10 cents in savings for every dollar of revenue you bring in. Lastly, understand the timeliness and accuracy of your suppliers to deliver a product catered to your customer’s needs.

If you need a starting point, take a look at a few key pieces of information you already have:

  1. Vendor list
  2. Number of searches per vendor
  3. Cost per search, by vendor
  4. % Hit Rate of each vendor by jurisdiction
  5. Turn around time by vendor

Armed with this information you can start to ask: Who are my biggest suppliers? Who is taking the longest at turning around reports? Are hit rates at the industry standard level? Are my customers happy with the information they are receiving?

Information is power. Harness this and make it work for your benefit.

Evaluating supplier networks is our strength. Our 27 years of supply chain optimization have saved customers up to 50% of their costs while improving quality and turnaround time. We use our experience and premier network to create a customized report at no cost to you. In the report we detail opportunities that will strengthen your supplier network. An optimized supplier network will further strengthen your customer relationships and position your business to beat the competition.

Reach out to us today for help with a supplier health assessment.

For more information, read on…..