Learn some methods and tools to measure stakeholder satisfaction in supplier sourcing, and how to use your results to improve your process and outcomes.

When defining the KPIs for the supplier sourcing, one should consider both the tangible, measurable criteria as well as the non-tangible or soft criteria for stakeholder feedback. For example, if the selected supplier achieves the cost reduction metric by offering huge price reductions upfront but is notorious for delayed shipments resulting in expediting costs that offset some savings, the consequential effects should be considered as well. Multiple stakeholders have different evaluating criteria to measure satisfaction so all these should be considered and weighted appropriately.

How can you measure stakeholder satisfaction in supplier sourcing?

Supplier sourcing is a complex process that involves multiple stakeholders, such as buyers, suppliers, managers, and end-users. How can you ensure that you meet their expectations and deliver value to your organization? One way is to measure stakeholder satisfaction in supplier sourcing, which can help you identify areas of improvement, increase trust and collaboration, and demonstrate your performance. In this article, we will discuss some methods and tools that you can use to measure stakeholder satisfaction in supplier sourcing.

1 Define your objectives and criteria

Before you start measuring stakeholder satisfaction, you need to define your objectives and criteria for supplier sourcing. What are the goals and priorities of your organization and your stakeholders? What are the key performance indicators (KPIs) and metrics that you will use to evaluate your suppliers and your sourcing process? How will you align your objectives and criteria with your stakeholders' needs and preferences? By defining your objectives and criteria, you can establish a clear and consistent framework for measuring stakeholder satisfaction.

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Saraj Gupta

Head of Procurement | PAC HOU
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When defining the KPIs for the supplier sourcing, one should consider both the tangible, measurable criteria as well as the non-tangible or soft criteria for stakeholder feedback. For example, if the selected supplier achieves the cost reduction metric by offering huge price reductions upfront but is notorious for delayed shipments resulting in expediting costs that offset some savings, the consequential effects should be considered as well. Multiple stakeholders have different evaluating criteria to measure satisfaction so all these should be considered and weighted appropriately.

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2 Choose your methods and tools

There are various methods and tools that you can use to measure stakeholder satisfaction in supplier sourcing, depending on your objectives, criteria, and resources. Surveys and questionnaires can be used to capture feedback from stakeholders on various aspects of supplier sourcing, such as quality, cost, delivery, service, innovation, and risk. You can also use interviews and focus groups to have more in-depth conversations with stakeholders about their experiences, opinions, challenges, and suggestions for improvement. Reviews and ratings are also useful for collecting and displaying feedback from stakeholders on suppliers and the sourcing process. Additionally, they can be used to compare and benchmark suppliers and the sourcing process against industry standards or best practices. All of these methods and tools can be used with online platforms or software to design, distribute, record, analyze, document, and display feedback from stakeholders.

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3 Analyze and report your results

Once you have collected feedback from your stakeholders, you need to analyze and report your results. You need to use appropriate methods and tools to process, summarize, and visualize your data. You need to identify the main themes, trends, patterns, and insights that emerge from your data. You need to highlight the strengths, weaknesses, opportunities, and threats that affect your supplier sourcing. You need to communicate your results to your stakeholders in a clear, concise, and compelling way. You need to use different formats and channels, such as reports, dashboards, presentations, or newsletters, to share your results with your stakeholders.

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4 Act on your results

The final step in measuring stakeholder satisfaction in supplier sourcing is to act on your results. You need to use your results to inform your decisions, actions, and improvements for supplier sourcing. You need to address the issues, concerns, and gaps that your stakeholders have raised. You need to implement the changes, solutions, and recommendations that your stakeholders have suggested. You need to monitor and evaluate the impact and outcomes of your actions and improvements. You need to follow up and update your stakeholders on your progress and achievements.

Measuring stakeholder satisfaction in supplier sourcing is not a one-time activity, but an ongoing process. You need to measure stakeholder satisfaction regularly and consistently, to ensure that you meet and exceed their expectations and deliver value to your organization.

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5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you measure stakeholder satisfaction in supplier sourcing?

1

2

3

4

5

1 Define your objectives and criteria

2 Choose your methods and tools

3 Analyze and report your results

4 Act on your results

5 Here’s what else to consider

Supplier Sourcing

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How can you measure stakeholder satisfaction in supplier sourcing?

1

2

3

4

5

1 Define your objectives and criteria

2 Choose your methods and tools

3 Analyze and report your results

4 Act on your results

5 Here’s what else to consider

Supplier Sourcing

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