VCW for Nova SBE Procurement: Supplier Performance Evaluation
Strategies to improve the quality of Nova SBE's procurement process based on supplier performance evaluation.
How can we improve the quality of Nova SBE's procurement process based on supplier performance evaluation?
This project addresses the challenge of implementing a supplier performance evaluation system at Nova SBE, utilizing the Value Creation Wheel (VCW) framework.
Overview:
Nova SBE's procurement department sought to improve its procurement process by implementing a supplier performance evaluation system. The team used the VCW framework to develop a comprehensive solution, focusing on creating a custom-designed dashboard.
Application and Process:
The process began with a diagnostic phase, analyzing the current procurement process, supplier relationships, and internal and external factors influencing procurement. The core challenge was defined: improving the quality of Nova SBE's procurement process based on supplier performance evaluation. The team then generated ideas and filters through brainstorming, surveys, and interviews. The POCR method was used to refine these ideas and filters. Through VCF, the team narrowed down potential solutions, focusing on developing a custom procurement dashboard.
Key Takeaways:
Supplier Performance Evaluation: Implement a comprehensive supplier performance evaluation system to improve supplier quality and reduce costs.
Custom Dashboard: Develop a custom-designed dashboard to facilitate the evaluation process, track supplier performance, and enhance communication.
Stakeholder Engagement: Engage key stakeholders, including suppliers, Nova SBE faculty, and the IT department, throughout the process.
Data-Driven Decisions: Utilize data from the evaluation process to make informed decisions about supplier relationships and procurement strategies.
Value Creation Funnel: The VCW funnel effectively narrowed down a large number of ideas to the most feasible and impactful solution.
Conclusion:
The VCW framework effectively guided Nova SBE's procurement department in developing a supplier performance evaluation system, demonstrating the methodology's effectiveness in helping organizations optimize procurement processes and improve supplier relationships.