Supplier transparency is critical. For example, for all purchases made through a specific supplier, what invoices are coming back? Do the invoices match the purchases? If not, why, and what are the differences? Are goods being received within the timeframe stipulated in the contract?
It is essential for organizations to have a system in place that collects and makes accessible all the data that show how trading partnerships are performing. The purpose of the system is not to try to leverage more savings with suppliers or drive down costs—it is to nurture a fantastic relationship between buyers and suppliers by helping them identify potential issues before the relationship reaches a point of discontent.