April 3, 2017

ClientLoyalty: Beyond the Scorecard, Redefining SPM Practice

Please read the latest article on ClientLoyalty as published in Healthcare Matters today by Thomas Finn.

By way of definition, SPM means managing a supplier’s ability to comply with and preferably exceed its contractual obligations. So clearly, it’s much more than keeping a record of a supplier’s capabilities, financial structure and other organizational details.

Historically, procurement departments have maintained “scorecards” for these purposes. Although the term “scorecard” is still used, it is hardly defining, as SPM practice is all over the map. In industries like automotive (where SPM is mission critical), it has evolved beyond quality tracking and supplier delivery performance. It’s now about identifying areas of improvement and opportunities to collaboratively innovate. Elsewhere, however, the thinking has stagnated, as reflected by the tools of the trade (e.g. spreadsheets and shareware).

New entrant ClientLoyalty, a Chicago-based firm, recognized the market opportunity. I found it interesting that its founding executives shared backgrounds in Employee Performance Management (EPM). And I say that because EPM, SPM and even CRM are logical bedfellows.

Continue to the full article at http://hcmatters.com/2017/04/clientloyalty-beyond-scorecard-redefining-spm-practice/

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